Life and Health Insurance Policies

What is the future of the Long Term Care insurance industry under Obama? Will national healthcare cover LTC?

Long Term Care insurance protects families from the costs of in-home care givers, assisted living facility costs, and nursing home costs that will often run from $50,000 to over $100,000 per year, and can wipe out most families. Around half of us will need this extended care.

Public Comments

1. There won't be national healthcare. That's not in his plan, so neither will LTC.
2. Most likely it won't cover LTC. Any of the countries that HAVE socialist health insurance, they don't cover LTC, AND, as a matter of fact, they cut off most services when you hit 70 or 75, depending on the country. Regarding Obama's plan, it's going to be just like Hillary's plan, 10 years ago, when SHE was pushing universal health coverage. It's not fiscally possible, it's just political talk. It's not going to happen.
3. The LTC is completely separate from health care! Some states are becoming "partner" states and are pretty good at protecting your assets. The actual projection is that about 80% of the US population will need some form of coverage in their lifetime. While LTC premiums are high, It doesn't take long to "break even" where care costs average about $5000 per month and the average stay is at least 2 years.
4. Very unlikely that universal health care would ever cover long term care. It is simply too expensive to do so. Medicaid is a state entitlement program that accounts for huge deficits as it is - how could they offer more coverage to those who can self pay for at least some time. Savvy middle aged and senior consumers will purchase long term care policies and take care of themselves. It is simply not fiscally responsible to offer universal health care - especially a plan that pays for long term care as well. http://www.ohioinsureplan.com/index.php/insurance/long-term-care-insurance/
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6. I live in Canada, where we have universal healthcare. Our health care system covers bare bones treatments. Doesn't cover LTC, doesn't cover travelling or accomodations for treatments if you need to go to a different city for treatments, doesn't cover parking at the hospital (which is about $10 a day at most places), doesn't cover your food, if you want a telephone or TV in your room it's not covered, if you want a semi-private room it's not covered, doesn't cover lost wages while you're sick, doesn't cover any optional or elective procedures, doesn't cover modifications to your home if you suddenly need wheelchair access or something, doesn't cover ambulence rides. There are TONS of expenses not covered under universal health care. Our health care is 'free' here, but there is still huge demand for LTC and critical illness insurance, infact statistics say that the largest demographic of people that by LTC and CI insurances are doctors, nurses and medical care workers. Goes to show how much faith they have in Universal Health Care being 'free'. I would assume that if Obama goes ahead with universal healthcare it there would still be a need for extra coverage through LTC and CI unless he comes up with some new wage plan that will cost tax payers litterally billions upon billions of dollars.