New long-term care coverage made available

Long-term care insurance (LTCI) has become available to ISBA members through Marsh Affinity Group Services, the association's insurance administrator.

Marsh offers Genworth (formerly GE Capital), John Hancock and MetLife Long Term Care (LTC) insurance plans from carriers rated A+ or higher by A.M Best who have been leaders in the industry for many years. Previously, only the Genworth Plan was available through Marsh Affinity.

Quotes now may be obtained from up to three of the-top rated carriers offering long-term coverage. Purchasing decisions can be made by comparing rates and benefits of more than one plan.

LTCI has typically covers a broad range of services that include nursing homes, home health care, adult day care and assisted living facilities. It is designed to protect individuals from catastrophic costs and allow them to keep nest eggs.

Most LTCI policies have triggers to determine when one's physical or mental condition is such that he or she is entitled to benefits.

If you cannot perform a certain number (often 2 of 6) of the “activities of daily living,” or have a cognitive impairment, you qualify for benefits. The customary activities in policies are bathing, dressing, toileting, continence, transferring (moving out a chair, bed, etc.), and eating.

LTCI benefits don't start when you move to a retirement home; you must qualify for benefits by the standards of your policy.

There are really only three ways to pay for the expenses of long-term care expenses: cash, Medicaid or insurance. Although Medicare provides health coverage for many over age 65, it has very limited LTC coverage.

Call Marsh Affinity Group Services for a no-obligation, free quote on LTCI policies from multiple carriers. The number is (800) 358-3795.

For information about other insurance plans offered through Marsh, such as Health Savings Accounts, PPOs, major medical, life, disability, dental, and business owners, call (800) 503-9230 or visit www.isba.healthinsurance.com.

For professional liability insurance, contact the ISBA Mutual Insurance Co. at (800) 473-4722.