Rising Costs of Long Term Care and Long Term Care Insurance and Taxation.
Choosing and Comparing Nursing Homes and Health Care at Home.

Elderly Health - Nursing home scandals and news. Long term care insurance



 

LTC Insurance can be a solution to help pay the rising costs of nursing home care,
and for those receiving health care at home, discount medical supplies and
assistive devices for independent living are increasingly important.


Important Issues for the elderly, seniors and others with disabilities 
The Cost of Nursing Homes: survey results  
Long Term Care Insurance - what is it Nursing Home Scandals - Latest Reported
Long Term Care Insurance QuotesSenior and Elderly Health News and Comment
Taxation Rules For Long Term Care Insurance  
Other Health and Disability Insurances  

 

Private nursing home costs continue to rise.

According to a recent survey from the MetLife Mature Market Institute: in 2011 the average
daily cost of a private room in a nursing home in the United States is $87,2355 per year, or
$229 per day. Alaska has the highest rate, where the cost is FROM $665 to $668 per day on
average (depending on the room). The lowest rates were found in Louisiana at $141 per day.


Most people can't afford to pay for this level of long-term care expenses out of their retirement
savings. That's why Long-Term Care Insurance Programs were designed. These Insurance
Programs gives members and their families valuable benefits to help pay for nursing home or
home health care expenses. They can help preserve financial assets and the ability to control
your own health care choices, while maintaining your personal and financial independence. 

 

Taxation Rules For Long Term Care Insurance Premiums and Benefits
Many states allow deductions for
long-term care insurance premiums.
 
The Health Insurance Portability and
Accountability Act of 1996
(Kennedy-Kassebaum) established
Tax Qualified Long-Term Care Plans
and defined the rules regarding the
taxation of any benefits and the
deductibility of premiums:
Taxation of Benefits:
The benefits received under a Tax Qualified Long-Term
Care Plan are generally not taxable as income.
Benefits from reimbursement policies, which pay for the
actual services received, are not included in income.
Benefits from indemnity policies, which pay the
beneficiary and not the nursing home direct are not
included in income except amounts that exceed the
beneficiary's total qualified long-term care expenses
or $310 per day (in 2012), whichever is greater.

Premiums for "qualified" long-term
care policies will be treated as a
medical expense and are deductible
to the extent that they, along with
other non reimbursed medical
expenses (incl "Medigap" premiums),
they exceed 7.5% of gross income.

For the self-employed, premiums
can be deducted as long as a net
profit has been made.
The medical expenses do not have
to exceed 7.5% of income.

Deductibility of Premiums:

The deductibility of premiums is limited by the age of
the taxpayer at the end of the year, as shown below:
(the limits will be adjusted annually with inflation)
The maximum long-term care premium you can add to
your other deductible medical expense is based on
your age at the end of each tax year. For example:


Tax Year: 20122011
40 or under
41-50
51-60
61-70
71 or older
$350
$650
$1,310
$3,500
$4,370
$340
$640
$1,270
$3,390
$4,240
  
LTC Insurance: Long Term Care Insurance
We all get older and now you can protect your future with free Long Term Care quotes
Just some of the insurance carriers represented by agents in the Insureme Network:
Allstate, Farmers, MetLife, State Farm, American Family, Nationwide, United American

Long-term care insurance provides services for
individuals who cannot complete everyday tasks
without assistance, due to reduced physical and/or
intellectual functioning. These services can be rendered
at home, in the community, or in a residential facility.


To find out the cost of long term care insurance and to
compare companies who offer long term care insurance,
select the LTC option from the drop down list on the
left, enter your zip code and request a quote.
We all get older and now you can protect your future with free Long Term Care quotes


Health Care at Home

If you have a health problem or are receiving health care at home, the need for acquiring
appropriate medical equipment and supplies has become very important to you.
Whether you simply need a bandage, or something more substantial like a hospital bed,
acquiring them can often prove to be difficult and extremely costly.
Even though some costs may be covered by private insurance, Medicare or Medicaid, in many
cases you will find yourself having to use your own financial resources — plus, you will soon
begin to realize that many things are simply not available at your local drug store.

As the costs for supplemental health care products and services continue to rise, it becomes
increasingly important to find affordable alternatives for consumable medical supplies and
both large and small specialist medical equipment (see below)


For Discount Prescription Drugs - see full drug list in pharmacy section.

For Natural Remedies and Vitamins and Supplements - see alternative remedies section


 

Consumer Comment and Health News Affecting The Elderly Plus Nursing Home News



Kenwood Manor
Kenwood Manor in , Oklahoma is listed as a special focus facility nursing home. Last heatlh inspection date: 06-15-16

Apple Rehab Cooney
Apple Rehab Cooney in , Montana is listed as a special focus facility nursing home. Last heatlh inspection date: 02-08-17

Lomond Peak Nursing and Rehabilitation, LLC
Lomond Peak Nursing and Rehabilitation, LLC in , Utah is listed as a special focus facility nursing home. Last heatlh inspection date: 09-27-16

South Shore Health and Rehabilitation Center
South Shore Health and Rehabilitation Center in , Indiana is listed as a special focus facility nursing home. Last heatlh inspection date: 02-16-17

Nms Healthcare of Hagerstown, LLC
Nms Healthcare of Hagerstown, LLC in , Maryland is listed as a special focus facility nursing home. Last heatlh inspection date: 12-09-15

Brookdale Smithfield
Brookdale Smithfield in , Rhode Island is listed as a special focus facility nursing home. Last heatlh inspection date: 01-20-17



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