There was an interesting Q&A in the New York Times yesterday. Readers’ questions about Long Term Care Insurance (LTCI) were submitted and answered by Vincent J. Russo, an attorney specializing in financial issues and the elderly, including Medicare and Medicaid reimbursement. A follow up Q&A will be published next week.
Mr. Russo covers issues ranging from whether high net-worth individuals should purchase LTCI, maximum benefits to purchase, and supplementing federal government plans.
While the information is interesting, and education on the subject will help you make an informed decision, the bottom line is if at the end of the day, with a good understanding of the risks and benefits, you decide that owning an LTCI policy gives you peace of mind it is probably a good idea that you should have it. For more resources please visit the Consumer Library in our Resource Center.
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