This presentation uncovers the 9 myths associated with long term care insurance.

1. The 9 Myths of Long Term
Care
Long Term Care Myths vs. Facts
Martha M. Zukowski, MBA, CLTC
Long Term Care Specialist & Educator
Toll Free: 877-516-7755

2. Myth #1
Most people won’t need long term care.”
70% of people turning age 65 can expect to use some
form of long term care in their lives.
- U.S. Department of Health & Human Services
Martha M. Zukowski, MBA, CLTC – 877-516-7755 Long Term Care Specialist & Educator
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12/3/2015

3. Myth #2
“I have enough savings to pay for care.”
The median annual rate of care in the U.S. is $45,188
for home health care and $87,600 for nursing home
care, and yet the average savings of a 50 year old is
only $43,797.
- Genworth 2014 Cost of Care Survey
Martha M. Zukowski, MBA, CLTC – 877-516-7755 Long Term Care Specialist & Educator
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12/3/2015

4. Myth #3
“I don’t need to plan. I’m still young.”
Nearly 41% of long term care is provided to people
under 65 years old who need assistance due to
diseases, injuries, disabling conditions, or accidents.
- Federal Long Term Care Insurance Program
Martha M. Zukowski, MBA, CLTC – 877-516-7755 Long Term Care Specialist & Educator
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12/3/2015

5. Myth #4
“I don’t need to plan. There’s
Medicare/Medicaid.”
Medicare does not pay the largest part of long term
care services, which include personal care and custodial
care. On the other hand, Medicaid does pay for
custodial care and medical care, but only for people
with low income and assets.
- U.S. Department of Health & Human Services
Martha M. Zukowski, MBA, CLTC – 877-516-7755 Long Term Care Specialist & Educator
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12/3/2015

6. Myth #5
“Health insurance covers long term care.”
In general, health insurance covers only very limited
and specific types of long term care – even less than
Medicare.
- U.S. Department of Health & Human Services
Martha M. Zukowski, MBA, CLTC – 877-516-7755 Long Term Care Specialist & Educator
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12/3/2015

7. Myth #6
“My family can take care of me.”
Family members who provide long term care
experience negative effects. 53% of family caregivers
had lost personal time which affects their relationships
and well-being. 44% had to work fewer hours and 20%
had direct loss of career opportunities.
- Genworth Beyond Dollars 2013
Martha M. Zukowski, MBA, CLTC – 877-516-7755 Long Term Care Specialist & Educator
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12/3/2015

8. Myth #7
“Long term care means going to a nursing
home.”
Long term care doesn’t necessarily mean entering a
nursing home right away. In fact, most care is provided
at home. Around 43% of all individual long term care
insurance policy benefits went for home care.
- American Association for Long Term Care Insurance
Martha M. Zukowski, MBA, CLTC – 877-516-7755 Long Term Care Specialist & Educator
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12/3/2015

9. Myth #8
“Some illnesses are incurable, so there’s no sense
in preparing for them.”
Incurable conditions like Alzheimer’s disease actually
require more careful planning because it involves loss
of executive function. You will need to take certain
measures to make everyone know your wishes if the
time comes.
- U.S. Department of Health & Human Services
Martha M. Zukowski, MBA, CLTC – 877-516-7755 Long Term Care Specialist & Educator
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12/3/2015

10. Myth #9
“I’m retiring soon. I don’t have time to plan anymore.”
Average life expectancy in the U.S. did not reach 65
until 50 years ago. But now, at age 65, you could expect
to live up to 18.4 years more, which could be
comfortable with sufficient planning.
- American Association for Long Term Care Insurance
Martha M. Zukowski, MBA, CLTC – 877-516-7755 Long Term Care Specialist & Educator
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12/3/2015

11. Is Long Term Care Insurance Right For You?
 You SHOULD consider buying long-term care insurance if:
 You have many assets and/or a good income.
 You don’t want to use most or all of your assets and income to pay for
long-term care.
 You can pay the insurance premiums, including possible premium
increases, without a problem.
 You don’t want to depend on support from others.
 You want to be able to choose where you receive care.
Source: © 2013 National Association of Insurance Commissioners-A Shopper’s Guide to Long Term Care Insurance
Martha M. Zukowski, MBA, CLTC – 877-516-7755 Long Term Care Specialist & Educator
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12/3/2015

12. Is Long Term Care Insurance Right For You?
 You should NOT buy long-term care insurance if:
 You can’t afford the premiums.
 You don’t have many assets.
 Your only source of income is a Social Security benefit or Supplemental
Security Income (SSI).
 You often have trouble paying for utilities, food, medicine, or other important
needs.
 You’re on MEDICAID.
Source: © 2013 National Association of Insurance Commissioners-A Shopper’s Guide to Long Term Care Insurance
Martha M. Zukowski, MBA, CLTC – 877-516-7755 Long Term Care Specialist & Educator
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12/3/2015

13. What Now?
Set Up an Appointment
 Let’s discuss your options together via a shared computer/webinar to learn more
about this important plan and understand the consequences of needing care.
 Don't mistake long term care to mean only insurance. A long term care insurance
policy is only one of the many ways you can prepare for your future long term care
needs. Long term care involves many concerns, from the type of services you'll
need, to where you live as you receive them, who provides them, and how it affects
the rest of your family as well.
Martha M. Zukowski, MBA, CLTC – 877-516-7755 Long Term Care Specialist & Educator
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