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Medicaid Squeeze Hurts Nursing Home Quality: Witnesses | ThinkAdvisor
Why This Matters to Agents
The nursing home quality issue is of vital importance of life insurance agents in the retirement planning sectors, because many clients end up using their annuities and life insurance-based savings arrangements to pay for LTC services.
Even purchasers of short-term care insurance or stand-alone long-term care insurance may eventually exhaust their LTCI benefits and use Medicaid to pay for nursing home care.
In spite of insurers’ efforts to expand sales of LTCI, and life insurance and annuity hybrid products that offer LTC benefits, Medicaid pays for two-thirds of all nursing home care, Grabowski said
Why This Matters to Agents
The nursing home quality issue is of vital importance of life insurance agents in the retirement planning sectors, because many clients end up using their annuities and life insurance-based savings arrangements to pay for LTC services.
Even purchasers of short-term care insurance or stand-alone long-term care insurance may eventually exhaust their LTCI benefits and use Medicaid to pay for nursing home care.
In spite of insurers’ efforts to expand sales of LTCI, and life insurance and annuity hybrid products that offer LTC benefits, Medicaid pays for two-thirds of all nursing home care, Grabowski said