Published:
Social Security Statement Advises Seniors to Consider Private Long-Term Care Insurance, LTC Agency Reports; Medicare Won't Cover It
KIRKLAND, Wash., June 12 /PRNewswire/ -- A few months ago, members of
Congress asked the Social Security Commission to clear up a misperception of
many Americans approaching retirement age. "A lot of seniors had the idea that
Medicare would cover their long-term care expenses," says Cameron Truesdell,
CEO of LTC Financial Partners LLC (LTCFP), one of the nation's largest and
most experienced long term care insurance agencies. "It wasn't so, but the
wording of the Social Security Statement left some doubt."
*(PHOTO Link 72dpi: Send2Press.com/mediaboom/08-0505-
LTCTruesdell_72dpi.jpg)
*(Photo Caption: LTC Financial CEO Cameron Truesdell.)
Congress asked for clarification. The Social Security Commissioner,
Michael J. Astrue, responded with a letter saying the wording of the Social
Security Statement -- found at
http://www.socialsecurity.gov/mystatement/sample4.htm -- would be changed to
make the meaning crystal clear. The section titled "About Social Security and
Medicare" now reads as follows (emphasis added):
"Social Security pays retirement, disability, family and survivors
benefits. Medicare, a separate program run by the Centers for Medicare &
Medicaid Services, helps pay for inpatient hospital care, nursing care,
doctors' fees, drugs and other medical services and supplies to people age 65
and older, as well as to people who have been receiving Social Security
disability benefits for two years or more. Medicare does not pay for long-term
care, so you may want to consider options for private insurance."
"This clarification is long overdue," says Truesdell. "Only about 10% of
those who should have long term care insurance do. Part of the reason may be
simple misinterpretation of what the government meant."
"It is vital for millions of Americans to do what the statement says, look
into private LTC insurance options," Truesdell continues. "There's now no room
for doubt. Paying for long-term care is beyond the scope of Medicare. It's
also beyond the scope of ordinary health insurance."
Truesdell's organization includes about 500 independent long-term care
insurance agents. "Our experts are available to advise all Americans and
American companies on their options," he says. "In the private sector, we're
the people to come to when you need to know whether the insurance is right for
you, and which carrier or policy best fits your situation." LTCFP's experts
answer questions, by phone or in person, in all states. A listing of them, by
state, is available at http://www.ltcfp.com.
This release was issued on behalf of the above organization by
Send2Press(R), a unit of Neotrope(R). http://www.Send2Press.com
SOURCE LTC Financial Partners
Copyright © 2009, PRNewswire
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