Long Term Health Insurance Toledo Ohio

	Long Term Care Insurance Quote
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The information you'll find here about the risks of needing long-term care someday, and the costs involved, can help you make an informed decision about whether Toledo long-term care insurance should be part of your financial planning. If you feel insurance protection is important, Contact Beacon Associates to hear a wide variety of benefit features and associated costs for you, your partner, or eligible family members. Once you've selected the features that are important to you, our associates will guide you from the application to the approval process.

Chances are, you've saved for retirement and have the coverage you need for medical care. But what if you develop a physical or mental impairment someday and need assistance with routine daily activities, such as bathing, dressing, or eating? Who would help you? What would it cost?

Long-term Care is the everyday help a person may need due to an injury or illness, mental deterioration, or advancing age. The need for long-term care is not limited to the elderly. Accidents and unexpected illnesses can happen at any time, any age. The risk may be greater than you expect. This year, about 9 million Americans over the age of 65 will need long-term care services. By 2020, that number will increase to 12 million. While most people who need long-term care are age 65 or older, a person can need long-term care services at any age. Forty (40) percent of people currently receiving long-term care are adults 18 to 64 years old. About 70 percent of individuals over age 65 will require at least some type of long-term care services during their lifetime. Over 40 percent will need care in a nursing home for some period of time. (U.S. Department of Health and Human Services)

Long-Term Care insurance can't prevent you from ever needing long term care, but it can help you protect yourself and your family from the financial impact. As you will see from the information we present, it is an issue that bears consideration. Please take the time to learn more about this coverage and the valuable protection it provides.

Long-term care is one of the biggest financial risks left unprotected as we approach and enter retirement. Consider:

• People are living longer.
• The cost of long-term care is high and rising. The national average cost for a nursing home stay is $74,285 for a semi-private and $83,585 for a private room per year and can run as high as $222,650 in some areas. (Metlife Mature Market Institute, October 2010) The study shows that:
  1. The national average daily rate for a private room in a nursing home is $229, while a semi-private room is $205, up from $219 and $198 respectively in 2009.
  2. The national average monthly base rate in an assisted living community rose from $3,131 in 2009 to $3,293 in 2010.
  3. The national average: hourly rates for home health aides ($21) and homemakers ($19) and daily rates for adult day services ($67) were unchanged from the previous year.

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• The risk is high. According to estimates, the odds are 70%. Currently, six out of every ten Americans who reach age 65 may need long-term care at some point during their lives. (U.S. Department of Health and Human Services)
• It is difficult to predict how much or what type of care any one person might need. On average, someone age 65 today will need some long-term care service for three years. Service and support needs vary from one person to the next and often change over time. Women need care for longer (on average 3.7 years) then do men (on average 2.2 years). While about one-third of today's 65-year-olds may never need long-term services, 20 percent of them will need care for more than five years.
• Neither company nor private health insurance plans cover the cost of long-term care. Government programs provide only limited assistance (tell me more)

The Todd Benefits Group offers you, your partner, and other family members affordable coverage that will protect your assets from the high cost of long-term care. Key features of your coverage include:

• Protection covering home care, adult day care, assisted living facilities*, Alzheimer's facilities, and nursing homes.
• Flexibility to choose levels of coverage and benefit features that meet your personal needs.
• For an additional initial premium, you may elect an inflation protection that automatically increases your benefits by 5% each year without raising your annual premium.
• Portability, so you can take your policy with you if you move-with no change in your premiums.
• Guaranteed renewability, meaning your policy cannot be canceled as long as you pay your premiums on time. You won't lose your coverage due to an illness or disability**.
• Personalized service from your personal Todd Benefit Specialist.

Eligible family members can apply for the same coverage and reduced rates. Contact Us for more information or proceed to the Premium Calculator to review rates for family members.

*In California, assisted living facilities are referred to as "Residential Care Facilities".
**The insurer reserves a limited right to increase premiums by class.

Currently, long-term care insurance premiums may be deductible for federal income tax purposes if your total un-reimbursed medical expenses exceed 7.5% of your adjusted gross income. (tell me more)

In addition, more and more states are providing a tax deduction or tax credit for long-term care insurance. 30 states currently provide incentives. (tell me more)

A Health Spending Account is a trust created or organized in the U.S. to pay for qualified medical expenses (including long-term care expenses and long-term care premiums) of the account holder. An HSA is available only to an employer or individual who participates in a high deductible medical plan. Individual contributions to the account are tax deductible and payments from the account for qualified medical expenses are not taxable. Tax qualified long-term care expenses are considered qualified medical expenses, and can be paid for from an HSA. Please note that this is a very brief summary of complex rules that govern HSAs.

This information is not a substitute for expert tax advice. Please contact a tax professional for complete details.

Here are some important points to consider when selecting the right policy for you:

• Use the nursing home table (below) to find the average nursing home cost in your state. Some people choose to insure the full cost of nursing home care; most choose to self-insure a portion of the cost that represents expenses they would no longer have, then insure the rest.
• In determining the right level of coverage for yourself, consider your family's health history and longevity.
• You and your partner may elect different coverage options, depending on your needs and budget.
• The cost of waiting to obtain coverage is significant. The longer you wait, the more coverage you'll need to purchase because of the increasing cost of long-term care. Also, the older you get, the more expensive coverage becomes. Please contact us to find out more about what a long term policy will cost for you and your partner
• Because eligibility for coverage is based on your medical history, waiting increases the chance that you won't qualify for coverage due to a medical condition or disability.
• However, depending on your health and medical history, you may qualify for an additional Preferred Health discount . Contact us for details.

Average Daily Nursing Home Costs
Alabama	$166	Nebraska	$156
Alaska	$610	Nevada	$199
Arizona	$177	New Hampshire	$265
Arkansas	$134	New Jersey	$277
California	$227	New Mexico	$184
Colorado	$198	New York (metro)	$361
Connecticut	$345	New York (non-metro)	$319
Delaware	$238	North Carolina	$182
District of Columbia	$272	North Dakota	$149
Florida	$218	Ohio	$194
Georgia	$164	Oklahoma	$141
Hawaii	$331	Oregon	$222
Idaho	$207	Pennsylvania	$248
Illinois	$167	Rhode Island	$250
Indiana	$173	South Carolina	$173
Iowa	$145	South Dakota	$167
Kansas	$144	Tennessee	$171
Kentucky	$181	Texas	$135
Louisiana	$131	Utah	$156
Maine	$246	Vermont	$243
Maryland	$235	Virginia (Arlington)	$191
Massachusetts	$310	Virginia (Richmond)	$191
Michigan	$208	Virginia (State Avg)	$191
Minnesota	$134	Washington	$231
Mississippi	$185	West Virginia	$209
Missouri	$140	Wisconsin	$223
Montana	$167	Wyoming	$184
Data based on MetLife Mature Market Survey, October, 2010 (Average Semi-private Nursing Home Rates).
The national average daily rate for a private room in a nursing home is $229, while a semi-private room is $205, up from $219 and $198 respectively in 2009.
The national average monthly base rate in an assisted living community rose from $3,131 in 2009 to $3,293 in 2010.