As today’s article in the Philadelphia Inquirer details, traditional long-term care insurance policies are in disfavor.  The primary factor is due to unexpected substantial increases in insurance premiums.

As a result, it is incumbent upon both the public and private sectors to be innovative in offering alternatives to traditional LTC insurance.  The State of Minnesota has been a leader in long-term care delivery reform.  Minnesota may soon experiment with two ideas.  The first is allowing an individual to buy a term life insurance policy that automatically converts to long-term care coverage once you reach retirement age.  The second would be a modest additional premium to add some home care benefits to a Medicare Supplemental (Medigap) insurance or a Medicare Advantage plan.

We need more of these innovative ideas if we truly are to provide for our country’s increasing aging population.  Minnesota’s ideas are a good start.

Minnesota Considers Two New Ways To Pay For Long-Term Care

Long-term care insurance premiums are rising again in Pennsylvania, by a lot. Here’s why.

About Jerry

Jerold E. Rothkoff, a practicing New Jersey and Pennsylvania attorney, is the Principal of the Rothkoff Law Group, an elder care law firm. Jerry dedicates his practice to serving clients in the areas of life care planning, long-term care planning, Medicaid & VA benefits, and advocacy for the elderly and disabled. He is past President of the NJ Chapter of the National Academy of Elder Law Attorneys, former chair of the elder law section of the NJ State Bar Association, and past President of the Life Care Planning Law Firm Association. Jerry continues to be an outspoken advocate for the rights of the elderly and disabled. He writes for and gives presentations regularly to attorneys and other professionals about legal issues related to seniors and those with disabilities. Jerry’s community activities include the Twilight Wish Foundation, the Delaware Valley Stroke Council, the Alzheimer’s Association, as well as numerous other advocacy groups. When not in the office, Jerry spends time with his wife, Erica, and their five children, eighteen-year old identical twin girls, Liza and Julia, fifteen-year old fraternal twin boys, Evan and Gregory, and six-year old Aitan.

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