With new Medicaid laws in place, long-term care insurance has become a much talked about subject. Older policies had the reputation of having more holes than a sieve. Newer policies are promoted as far better buys. There are a couple of resources along the right rail of this blog that can help you check out options. However, double and triple check companies.
Bill Toland of the Pittsburgh Post-Gazette wrote an article titled "Some long-term care coverage can hurt." It's a good read that is well worth your time.
Toland begins:
"When her sister suffered a massive stroke 14 years ago, then lost her house and assets in trying to pay for nursing home care, Anne Donner vowed that the same would never happen to her.
'You get that fear in you,' she said, a fear of destitution, of becoming a burden. So the Bridgeville woman began paying on a long-term care insurance policy, which promised to cover a certain percentage of the nursing home tab if she became unable to care for herself."
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