How lowering the age for Medicare eligibility could help LTC Insurance

Posted by Tom Riekse Jr on Aug 9, 2017 9:00:00 AM

Although major health care reform is on hold, ideas from Washington continue to percolate to help deal with the increasing cost of health insurance.

One of the most frequent ideas is Medicare expansion. On August 8th eight Democratic Senators introduced the Medicare 55 Act. The idea is to allow Americans from 55 to 64 to buy Medicare coverage - a "public option" to private insurance.  

Read More

Topics: Current affairs, LTC legislative news

New ideas on how to fix the LTC Insurance market

Posted by Tom Riekse Jr on Jun 15, 2017 12:09:58 PM


Recently I had a great experience of participating in a one-day conference at New York University in which a group of academics tried to get the answer to a simple question - what's holding back the LTC Insurance market in the United States? The conference featured participants from schools like NYU, University of Chicago, Stanford, Duke and others. There were also attendees representing insurers, government agencies, and researchers from LIMRA, Fidelity and Vanguard.

Read More

Topics: Current affairs

People are delaying their purchase of LTC Insurance - why?

Posted by LTCI Partners on Sep 1, 2016 3:32:58 PM


Remember the first few years after the financial crisis when car sales plummeted and General Motors had to be bailed out?  At the time, even when gas prices were very low, people were cautious about making a big purchase. Due to unemployment and uncertainty, people delayed buying cars, the average age of cars got older, and repair shops reaped the benefits.

Now, of course, we have seen several recent great years for the auto business as pent up demand led to sales. In addition, during the lean years companies like GM learned how to build better products and be profitable on each sale instead of having finance driven sales.  As this recent article notes, "Everything is sunshine and smiles over at General Motors"

Read More

Topics: Current affairs, Long-term Care Insurance in the News

Would new LTC financing proposals benefit advisors?

Posted by Tom Riekse Jr on Feb 26, 2016 9:00:00 AM


Long-term care financing is an issue that affects a lot more than just people planning or paying for care.  It is a huge issue for the federal and state governments who foot the bill through Medicare and Medicaid.  LTC financing is also a big deal for providers of care - home health care firms, assisted living communities and nursing homes.

No one disagrees the current system is a mess, with a lack of understanding of who will pay for what. It's not surprising that more people don't buy long-term care Insurance or properly plan.  But what is the answer? Two organizations have recently issued reports which give some ideas on reforming LTC.  Sure, we've seen these types of proposals in the past but what is striking is how the diverse stakeholders seem to be working together to solve problems - despite the popular view that we are completely divided on policy questions and unable to come to a consensus.

Read More

Topics: For financial professionals, Current affairs, LTC legislative news

The biggest reason for the slump in LTC sales - and the key to a turnaround

Posted by Tom Riekse Jr on Jan 15, 2016 4:42:55 PM

Standalone long-term care insurance sales are in a slump. According to most industry estimates, new policy sales are about a third of what they were just 10 years ago. The primary reason for the decline - a crisis of confidence of both buyers and sellers of the product. Like most slumps, the reasons have their roots back to the days when sales were booming.

Read More

Topics: For financial professionals, Advice articles about planning, Current affairs, Sales Tips, Financial Wellness, John Hancock