Long Term Care Benefits – “Your Care 360”

Key Facts You Should Know about Long Term Care:  

• 70% of Americans over age 65 will need long term care services, largely not covered by Medicare or Medicaid.
• 25% of Baby Boomers now provide personal care and financial help to an aging parent, triple over 15 years ago, at an average cost of over $300,000.
• 42% of employed Americans (54 million people) have provided eldercare in the past 5 years, spending out-of-pocket an average of nearly $7000 on caregiving.
• Significant tax advantages and financial incentives are now in place for Private LTC insurance under State LTC Partnership programs

Sources:  International Society of Certified Benefit Specialists, April 22, 2021, HealthView Services, June 29, 2021 and Daily Insurance Report, February 22, 2021.

Long Term Care:  Awareness and Education is the Important First Step

It’s possible you have already heard of long term care, but do you really know what LTC is?

Long term care is the medical term for the help, care and assistance people need when they develop incapacities, disabilities or chronic conditions, often simply due to aging, and they are no longer able to do all the activities of daily living for themselves. These are not medical treatment costs covered by regular medical insurance.

The costs of long term care, both direct and hidden, are increasing as more working Americans find themselves caring for aging parents and Baby Boomers enter their retirement years. These ongoing care and maintenance costs are largely not covered by Medicare or private major medical insurance.

Most people who need long term care want the care provided to them in their own homes, although it could be in an expensive nursing home or assisted living facility.  Most families try to step up and give care themselves, so the person needing long-term care can stay at home.

How Long Term Care insurance can benefit you

The U-Haul Dealer Benefits Program is pleased to sponsor “Your Care 360” – the nation’s leading long term care education and benefit resource powered by ACSIA Financial Partners – for dealers and their employees and families.  The  goal is to help you access the LTC services you need when you and your family need them.  This benefit can even help you create your own tax-favored benefit fund to cover long-term care, using private LTC insurance that is suitable for you.

LTC costs may be covered in part under state government Medicaid for people who qualify with low incomes or who first spend down their personal income and assets. Recognizing the increasing costs of LTC, most states have put LTC Partnership programs in place that give people financial incentives to plan ahead and buy private LTC insurance.

Protecting yourself from bearing the cost of long term care services is extremely important, but understanding the available options can be difficult. Through the “Your Care 360” benefit, you can become educated about long term care and connect with reliable resources and coverage options.

How does LTC insurance work?

The Long Term Care benefits available through the U-Haul Dealer Benefits Program simplify matters.  As with all of our Program benefits, this “Your Care 360” LTC education and resource benefit is completely voluntary. The key feature of our LTC benefit is the emphasis on awareness and education. The program is private and secure, to help you understand the risks and costs of long term care, so you can confidently review your options for LTC services and coverage.

For example, you can select an LTC “benefit bank” amount for LTC that fits your needs and requirements.  You will have the help and guidance of a local LTC insurance producer of ASCIA Financial Partners, the national firm of LTC specialists we have contracted to represent our program, because they have dedicated themselves professionally to only providing LTC education and resources and to maintaining the highest industry standards.

We Help Make it Easy for You to Decide and Enroll