Three States Add Medigap Birthday Rule Benefits For Seniors Reports AA

Slomemedicare — Fri, 24 Dec 2021 08:32:27 -08:00

Three states are making available a significant benefit for seniors with Medicare Supplement insurance starting January 1 reports the American Association for Medicare Supplement Insurance. “The Medigap birthday rule will now be available to seniors in Illinois, Nevada and Idaho,” states Jesse Slome, director of the Medicare advocacy organization. "Previously only California and Oregon offered this unique benefit available for consumers with Medicare Supplement coverage.” Medicare Supplement insurance is often referred to as Medigap coverage. The birthday rule is a nickname for the special opportunity that enables residents of the five states to switch Medigap coverage. “The rules are not the same in each state,” Slome explains. “However, in general the key benefit is the ability to switch plans without having to undergo health underwriting. This can be a significant benefit as one ages.” The Association recently posted a webpage with state specific Medigap birthday rule details. “This is probably one of the least known opportunities available to seniors,” Slome admits. According to the Association some 14 million Americans have a Medicare Supplement insurance policy. “If you are interested in knowing more about the rule and the opportunity to switch it pays to connect with a local Medicare insurance agent,” Slome advises. “Switching the right way is critically important.” The American Association for Medicare Supplement Insurance advocates for the importance of educated planning and supports insurance professionals who market Medicare insurance solutions. For more information, visit the organization's website at https://www.medicaresupp.org.
Learn more: Three States Add Medigap Birthday Rule Benefits For Seniors Reports AA

Long-Term Care Insurance Claims Probability For Men Reported

Slomemedicare — Fri, 24 Dec 2021 08:39:48 -08:00

A 65-year-old man who lives to age 90 faces a 51 percent likelihood of needing long-term care according to the American Association for Long-Term Care Insurance. A woman living to age 90 faces a 58 percent likelihood. "Living a long life comes with the increased risk of needing long-term care," says Jesse Slome, director of the American Association for Long-Term Care Insurance. "Women face a higher risk but the risk for men is something few men want to acknowledge?" Slome followed up previously shared risk information with insurance professionals. “We shared data specific to women because it’s been proven that they face a greater risk of needing long-term care," Slome acknowledged. "Because we were questioned about the risk men faced, we sought the data." According to Slome, a man age 65 faces a 38.7 percent probability of needing long-term care when he reaches the ages 85-to-89. The risk for a woman is 43.9 percent according to the previously published long-term care insurance statistics reported by AALTCI. “The vast majority of long-term care insurance claims are still paid to women,” Slome adds. “However, this data proves that men who anticipate some risk of living a long life need to at least consider the benefits of owning a traditional long-term care insurance policy.” The American Association for Long-Term Care Insurance (AALTCI) advocates for the importance of planning and supports insurance professionals who market both traditional and hybrid LTC solutions. The data was shared with permission by HealthView Services LLC. To access the latest long-term care insurance statistics and data visit the organization’s website at https://www.aaltci.org/LTCFacts-2022/. To obtain long-term care insurance costs from a long-term care insurance specialist call the organization at 818-597-3227 or visit their website https://www.aaltci.org.
Learn more: Long-Term Care Insurance Claims Probability For Men Reported

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Three States Add Medigap Birthday Rule Benefits For Seniors Reports AA

Long-Term Care Insurance Claims Probability For Men Reported