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December 3, 2014

Parents’ Medical History May Make Long-Term Care Insurance More Expensive

The Affordable Care Act prohibits medical insurers from denying coverage to applicants due to pre-existing conditions, but the same rules do not apply to long-term care insurance. Your parents’ health could be one of the many factors that long-term care insurance providers take into account when deciding how much to charge you. Be sure to do your research while shopping for long term care insurance. Strohschein Law Group is here to help you plan out your long term care options for you to make to most affordable decisions and protect what matters.

5 Tips on Deciding Whether to Buy Long-Term Care Insurance

On the one hand LTCI premiums are high, they may be raised in the future, and if you are purchasing policies in your 50s and 60s, the need is probably many decades in the future. On the other, many are saved by their LTCI, able to choose their own care setting rather than rely on what is covered by Medicaid in their state, more comfortable hiring necessary help if doing so doesn’t mean dipping in to their savings, and able to protect an inheritance for their children and grandchildren.

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