By: Revanche

Long term care insurance

July 24, 2006

DL at My Money Path brought up the topic of long term care which has been on my mind … well, on the periphery anyway, and that reminds me that I should take a long look at the materials I have at home to see if this is something I need to consider setting up for my parents in the near future or if this can wait another year or two. I also wonder if the Cancer Expense Protection is just too paranoid, I just recall overhearing people at the orientation saying they’d used it and were very happy to have it offered again (or was that just a planted conversation to lure in the gullible??):

Long-Term Care Program

Benefits from this program help pay the cost of nursing home care, convalescent care, or home health care for patients requiring special care due to illness, injury, or the natural aging process. This includes expenses not normally covered by Medicare, Medicaid, and most other medical insurance policies. Costs for coverage are based on your age at the time you first enroll and do not increase as you grow older. Parents and grandparents of eligible employees and their spouses or domestic partners also may purchase this insurance.

For more information, contact your benefits office. Brochures and enrollment kits are available. You can enroll in this program at anytime with proof of insurability.

Cancer Expense Protection Insurance
This insurance provides direct cash payments to the insured who is diagnosed with cancer. It also pays for several types oexpenses associated with the treatment of cancer. These benefits are paid regardless of any other insurance you may have.

For more information, contact your benefits office. Brochures and enrollment kits are available. You can enroll in this program at anytime.

2 Responses to “Long term care insurance”

  1. Daniel says:

    Thanks or the credit on the long term care insurance. I’m adding you to my regular reads.

    My work doesn’t offer anything like that, but I’m not sure I would consider it for myself quite yet, although at the age of 29, I imagine the premiums would be dirt cheap. I think it is great that your parents can enroll through your work.

    I also haven’t heard much about the cancer treatment insurance, so I can’t say much about that.

    My parents are 57 and 63 and from what I have read thus far, it is best to lock in this insurance before age 60. If it is after age 70, it may not be cost effective. So, I’m hoping to get them set up on this soon. It is awfully time consuming what my parents are going through with my grandfather, and the only option they have is to deplete his assets before Medi-Cal will kick in. I don’t want that to happen to my parents.

    I urge you to read the links in my post in full, as the three-part post I read was pretty good. I’ll post updates on my site as I get them. Thanks! Keep up the Blogging!

  2. You’re welcome!

    I did go back to check out the links in your post when I had some time and you’re right, there is quite a lot of information in there that I’d not known before. This definitely requires some project time!

    Thanks for checking my blog out!

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