Long Term (not So Rare) Care

[CALTCAgent]

Are the costs and/ or benefits in the "light plans"that much different?

That depends on what you consider "that much"?

Its possible to design a plan with a little difference or a lot of difference.

 

[billberry12]

csalter,

"light" means "less" .....less benefits-less premium etc. Compare it to getting cars. You could buy a loaded full size BMW, or a base Hyundai with no options. They are both cars, and they both do the same thing...get you from point A to point B. But they do it a lot differently.
The Hyundai would be considered the "light" version of the two.

 

[ltcadviser]

I see the same thing. Partnership and cash plans have so many advantages and yet clients tend to gravitate towards "light" plans. It's not always a bad deal...after all, some coverage is still better than none.

In 96% of States, requirements for Partnership plans are not cost prohibitive.

 

[Arthur Rudnick]

originally posted by LTCAdviser

In 96% of States, requirements for Partnership plans are not cost prohibitive.

I'm a proud resident of NYS, the other 4%.

Here, the Partnership mandates a minimum daily benefit of $270/day and also mandates a 5% compound inflation rider.

Premiums for a 60 yr. old couple are $7,100/year. Forget about 61+

 

[Tahoe Ray]

In 96% of States, requirements for Partnership plans are not cost prohibitive.

You mean there are other states besides NY?