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Social Security Statement Advises Seniors to Consider Private Long-Term Care Insurance, LTC Agency Reports; Medicare Won't Cover It

Thursday, June 12, 2008 General News J E 4
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KIRKLAND, Wash., June 12 A few months ago, members ofCongress asked the Social Security Commission to clear up a misperception ofmany Americans approaching retirement age. "A lot of seniors had the idea thatMedicare would cover their long-term care expenses," says Cameron Truesdell,CEO of LTC Financial Partners LLC (LTCFP), one of the nation's largest andmost experienced long term care insurance agencies. "It wasn't so, but thewording 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 SocialSecurity Statement -- found athttp://www.socialsecurity.gov/mystatement/sample4.htm -- would be changed tomake the meaning crystal clear. The section titled "About Social Security andMedicare" now reads as follows (emphasis added):

"Social Security pays retirement, disability, family and survivorsbenefits. 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 65and older, as well as to people who have been receiving Social Securitydisability benefits for two years or more. Medicare does not pay for long-termcare, so you may want to consider options for private insurance."

"This clarification is long overdue," says Truesdell. "Only about 10% ofthose who should have long term care insurance do. Part of the reason may besimple misinterpretation of what the government meant."

"It is vital for millions of Americans to do what the statement says, lookinto private LTC insurance options," Truesdell continues. "There's now no roomfor doubt. Paying for long-term care is beyond the scope of Medicare. It'salso beyond the scope of ordinary health insurance."

Truesdell's organization includes about 500 independent long-term careinsurance agents. "Our experts are available to advise all Americans andAmerican companies on their options," he says. "In the private sector, we'rethe people to come to when you need to know whether the insurance is right foryou, and which carrier or policy best fits your situation." LTCFP's expertsanswer questions, by phone or in person, in all states. A listing of them, bystate, is available at http://www.ltcfp.com.

This release was issued on behalf of the above organization bySend2Press(R), a unit of Neotrope(R). http://www.Send2Press.com

SOURCE LTC Financial Partners
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