Long-term care: public, advisers need education.I am writing a response to the article written by Robert MacDonald Robert MacDonald may refer to:
n. 1. An imperfection, often concealed, that impairs soundness: a flaw in the crystal that caused it to shatter. See Synonyms at blemish. 2. and his article entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: "The Lost Promise of Long-Term Care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. " has totally missed the mark. Is it true and accurate to state that this product to date has been underbought and undersold un·der·sold v. Past tense and past participle of undersell. undersold undersell ? Absolutely. Is it true that the perception of many is that it is too complicated? No question. However, a good part of that has to do with lack of proper carrier funding and focus to get the word out to the "credible centers of influence." MacDonald writes--"remember all that long-term-care insurance does is to pay doctors, nurses, and hospitals directly for long-term care" and "why not offer senior disability income and pay the cash directly to the person who is sick and he or she can decide who and what to pay"--both need a direct and public response. Long-term-care insurance specifically does not pay benefits for care provided by doctors and hospitals. No long-term-care insurance contract ever written, that I am aware of, has ever paid for hospital stays or doctor bills. Traditional reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. long-term-care insurance model contracts do pay insureds directly (if benefits have not been assigned) by reimbursing insureds for actual expenses incurred for nursing home stays, assisted-living costs, adult day center care, Alzheimer's facility charges, at-home care provided by nurses, home-health-care aides (certified See certification. nurses assistants), various types of therapists, provided through a home-health-care agency or registry or in some cases directly by a nurse or other caregiver. There are many other features and benefits that current long-term-care insurance contracts offer at this time. Additionally, referencing MacDonald's second statement, "senior disability income" has existed for quite a number of years within the long-term-care insurance industry and is an excellent choice for all consumers considering long-term care insurance. This is a version of "indemnity" coverage referred to as "cash benefit or disability model" long-term-care insurance. Once qualified, this coverage does exactly what MacDonald requests of our industry, "it pays the cash directly (currently $260 per day tax free) to the person who is sick and he or she can decide what and whom to pay." Ironically this is the type of coverage my wife and I own and my wife is currently on claim and receiving these benefits. The long-term-care insurance industry has done a wonderful job of responding to a broad segment of consumers and has addressed, in various ways, their wants and needs. What we have not done is an adequate job of educating the public or their advisers. We are working diligently dil·i·gent adj. Marked by persevering, painstaking effort. See Synonyms at busy. [Middle English, from Old French, from Latin d on this issue. Peter S. Gelbwaks, President Gelbwaks Insurance Services Immediate Past Chairman, LTC LTC abbr. lieutenant colonel Network |
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