Questions about Long-term care coverage

[Jody]

Just as Rocky asked about whether to become a domestic partner, I also have a question...I have the opportunity to joing the City of New York LTC (Long term care) program now offered through Met Life as a Group Long term care insurance policy...It says I do not have to "provide evidence of good health".  It does state that eligible family members must complete a medical underwriting questionnaire...Rates are based on age (I'm 51)... Does this sound like a good deal for me or will my HIV status come up in the future if I need the care someday?  If I am not required to provide evidence of good health while joining up, will that be enough?

Thanks for your input, Jody

[poobear]

Jody,
    Wish I could help you with this one but I do not know.  Just wanted to wish u luck.  I am sure someone will have good advice for you.  Rachel

[whizzer]

It sounds like a very good deal.  You would be crazy not to jump on it.  About the only way an HIV positive person can get long term care coverage is through a group policy offered by a large employer.  When they say you do not have to provide evidence of good health, they mean it.  They cannot consider your HIV status if you need long term care, unless the policy provides a specific exclusion for it (which I would bet it does not).

Being positive, you are more likely to need long term care than most people.  That is why insurance companies will not sell individual long term care policies to HIV positive folk - they are simply too expensive to underwrite because the risk is so great.   When you are lumped in a large group of mostly healthy people, your individual cost is spread across the entire group, and it is less expensive to underwrite the policy.

Trust me, if they were worried about your HIV status, they would ask about it prior to writing the coverage.  I would bet, however, that they are far more worried about the (many)people with chronic high blood pressure than the (few) people who may have HIV.  Those with chronic hypertension are far more likely to have strokes and require long term care.


If they cost is bearable, I would sign up for the policy.  In a heartbeat.

[RAB]

Jody

If they are not asking for a health statement then I don't see how your HIV status could be a disqualifying issue in the future.

Long Term Care insurance is something I know little about.  But I'd assume 2 big advantages would come:

1.  Quality of care should you need it.  (If you need LTC would it be in your home or would you be required to move into a LTC facility?  Etc.)

2.  Asset protection (vs having to liquidate everything should you require care/become a medicaid patient)

If the premium is affordable and predictable, I'd go for it.

RAB

[Cliff]

Go for it Jody (for all the important reasons Rocky mentioned).  LTC is the only thing I'm taking with me from my previous employer (that's how much I considered it a blessing to have access to).

[Eldon]

Hi Jody, it is Eldon.

I would definitely consider making this decision for the long-term. I beleive you are in NYC. You may also want to check this out:

http://www.health.state.ny.us/health_care/medicaid/program/longterm/


Make the BEST of each Day!

[Jody]

Thanks to all for your excellent comments, this is such a bright, educated group.  I sent away the postcard and if I don't get my package to sign up in a few weeks I have a number to call or to logon online.

I have started to think about such issues, not that I am ill today but I live alone and while I have friends, old and new, cousins, co-workers and neighbors, I just don't have that ONE person who will be there 24-7 for me should I ever require it, heaven forbid.  My mother and step-father are well into their 80's. I'm very self-reliant which is both good and bad.  I have not taken a sick day at work in well over 2 years but who knows what tomorrow or next year will bring. 

I often think I really can't afford to get sick or disabled, what if I can't even get up to throw myself off a cliff- LOL. 

Take care all and thanks again.

Jody   

[aztecan]

Hey Jody,

Sorry I'm late with this, but I'd go for it. I am in much the same situation as you, and, coincedentally, about the same age.

If/when the time comes I need long term care, I don't know how-who-where it would happen. I can't really see my self becoming a burden to my sister, I have no partner and my mother is in her 80s.

Luckily, I still have a gas oven. (LOL)

HUGS,

Mark