Long term care insurance

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thenewmarket

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Tennessee
Thankfully, my husband had more than enough life insurance in place before we found out he had an aneurysm and bicuspid valve. He is now two years plus out from surgery and he is 53. Will he be able to buy long term care insurance at a reasonable price? Have others in this position tried to purchase long term care insurance, if so, what were your experiences? At what age did you get long term insurance? Any information would be appreciated!
 

barbwil

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Jun 9, 2005
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317
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NE Ohio
My husband and I took out long term care insurance in 1995 when he was 71 and I was 65. We payed one lump sum; they would not let us take out the amount we first asked because I was taking medicine for an arrhythmia. A nurse was sent to our home and she took an exhaustive medical history. Also they contacted our internist for his take on our health situation. They estimate the average amount of time one spends in a nursing home to be 2 years. A few years after we took it out they included home health care as well. This policy will give us an amount for a total of 50 months. If neither of us uses any of it, it will go into our estate and our children will be the beneficieres. Thank goodness that nurse isn't coming around to do a history since then!!!! Our "social" life is either at a doctor's office or the grocery store, other than our involvement in our church.
 
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Hmmm...my long term care policies came from the opportunity to sign up through employers.... I grabbed the highest coverage I could "without an exam" or answering too many questions....



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csutherland

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Springfield Mo area
Jerry has not been able to get long-term care insurance at any price. He has had AVR, 1 bypass, and has an aneurysm that has been stable (no enlargement at all) for 5 years.
 

Laura R

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Sep 1, 2008
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California
Hi.
I had my valve replacement surgery in Sept 2008 and am doing well, but I've now been turned down for long term care insurance based on "History of Atrial Fibrillation in combination with Mitral and Aortic Valve Replacements". This seems terribly unfair to me, but I'm not here to vent, would like to know what insurance company or companies offer us valve replacementees long term care insurance. Any suggestions? Thanks!
Laura
 

Ross

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Hi.
I had my valve replacement surgery in Sept 2008 and am doing well, but I've now been turned down for long term care insurance based on "History of Atrial Fibrillation in combination with Mitral and Aortic Valve Replacements". This seems terribly unfair to me, but I'm not here to vent, would like to know what insurance company or companies offer us valve replacementees long term care insurance. Any suggestions? Thanks!
Laura
Laura I'd appeal that decision. It's pre existing and they can no longer deny you based on that, at least for health insurance. Thinking about it, they may be able to for long term care.
 

Jkm7

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Has the no denial of health insurance for pre-existing actually gone into effect? I was confused and thought not until next month. I think they still have through August to dump people who have pre-existing. Hope I'm wrong.
 

Lynlw

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Has the no denial of health insurance for pre-existing actually gone into effect? I was confused and thought not until next month. I think they still have through August to dump people who have pre-existing. Hope I'm wrong.
I thought pre existing not being used against to to get health insurance , didn't go into effect this year, but I haven't read up on it lately
 

Luana

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Has the no denial of health insurance for pre-existing actually gone into effect? I was confused and thought not until next month. I think they still have through August to dump people who have pre-existing. Hope I'm wrong.
No. And I don't think it's going into effect that soon, though I could be wrong; however, you can get health ins with a pre-existing condition if you can meet the 5 criteria which I wrote about here:
http://www.valvereplacement.org/forums/showthread.php?34481-Guaranteed-Issue-Medical-Plans&highlight=

You may also want to check this out:
http://www.insurancejournal.com/news/national/2010/07/01/111230.htm

I used to sell IFP (individual and family plans) medical insurance, but the last few years have mostly done Medicare, so I am a bit rusty with IFP, though I have been trying to follow some of what the new stuff entails. Most of it, from what I understand, does not go into effect until 2014. You can also find more info at:http://www.healthcare.gov/

A friend told me that the insurance companies are being more lenient with some pre-exisiting conditions, but he's dealing with much smaller potatoes in his health history than most of us here. Supposedly there should be more accessibility to the high-risk pools, but, they really are fairly limited in what they pay.

I did look at healthcare.gov the other day, but I am better off staying on COBRA, and when that ends, because I meet the 5 criteria (post in first link above), I will be eligible for a guaranteed-issue plan, higher premiums, but covers more and does more than the high-risk pools and are not all that great; in California the high-risk plan is MR MIB, which is the Major Risk Medical Insurance Board, fairly pricey, and pays an annual maximum benefit total of $75,000, and a lifetime annual benefit of $750,000. For those of us who've been through surgery, you know that $75,000 doesn't come close to covering VR surgery and the stuff before and possibly after it.
 
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Lynlw

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I thought it wasn't going into effect until 2014, Justin did a paper on it a few month ago, but I hoped it had changed since then.
NJ just started their program for preexisting conditions, and you have to not had insurance for 6 months ANd I personally thnmk it is pretty expensive, for 'affordable' insurance http://www.nj.com/news/index.ssf/2010/08/nj_opens_federally_funded_heal.html
It’s open to New Jersey residents with specifically defined pre-existing conditions who have not had health insurance for six months. Only U.S. citizens, nationals or legal residents are eligible. The coverage will cost between $212 and $768 a month, depending on the person’s age and plan selected.
 

Maryka

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Did anyone see that there is another thread on this same topic, but by a different member? "Great minds have the same questions" I guess.
 

Lynlw

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Did anyone see that there is another thread on this same topic, but by a different member? "Great minds have the same questions" I guess.
The member that brought up this old thread, also started a new one
 

Laura R

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Sep 1, 2008
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California
Thanks Ross. I was thinking of appealing it based on my atrial fibrillation having been caused by diseased valves that have now been replaced, but they already knew that. I may do it anyway, but I don't have much faith in insurance companies...

Hope you're having a good weekend.

Laura

Laura I'd appeal that decision. It's pre existing and they can no longer deny you based on that, at least for health insurance. Thinking about it, they may be able to for long term care.
 

Laura R

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Thanks for the info, Luana! I'll look into it.

By the way, I love both your adorable genius cat picture and your quote about chocolate! ("Save the earth. It's the only planet with chocolate.")

Laura
 

Laura R

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That was me. I wasn't sure where to post my question, so I decided to post it both places.

Laura
 

Mentu

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My surgery was performed at Oklahoma Heart Institu
Pre-existing Conditons Eliminated for Adults in 2014

Pre-existing Conditons Eliminated for Adults in 2014

Here is the summary of the new health care reform law Elizabeth Deckman prepared in July, 2010.

"Pre-existing condition exclusions

Health care reform prohibits group health plans from imposing pre-existing condition exclusions on participants under age 19 effective for plan years commencing on or after Sept. 23, 2010. Pre-existing condition exclusions can continue to be applied to participants age 19 or older until the 2014 plan year, at which time no such exclusions are allowed. This prohibition on pre-existing condition exclusions applies to both grandfathered and nongrandfathered plans.

The regulations amend the definition of “pre-existing condition exclusion” under the Health Insurance Portability and Accountability Act (HIPAA). Under this change, a pre-existing condition exclusion includes both a limitation and an exclusion of benefits for a specific pre-existing condition, as well as an exclusion of coverage under a plan as a whole, based on such condition. Currently, HIPAA prohibits group health plans from denying plan coverage on the basis of certain pre-existing conditions."


http://www.dwt.com/LearningCenter/Advisories?find=304555

Larry
 

Laura R

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California
Hi Larry and thanks for the very helpful information. It's good for all of us to know that there's a change in sight, even if it's a few years away.

Here is the summary of the new health care reform law Elizabeth Deckman prepared in July, 2010.

"Pre-existing condition exclusions

Health care reform prohibits group health plans from imposing pre-existing condition exclusions on participants under age 19 effective for plan years commencing on or after Sept. 23, 2010. Pre-existing condition exclusions can continue to be applied to participants age 19 or older until the 2014 plan year, at which time no such exclusions are allowed. This prohibition on pre-existing condition exclusions applies to both grandfathered and nongrandfathered plans.

The regulations amend the definition of “pre-existing condition exclusion” under the Health Insurance Portability and Accountability Act (HIPAA). Under this change, a pre-existing condition exclusion includes both a limitation and an exclusion of benefits for a specific pre-existing condition, as well as an exclusion of coverage under a plan as a whole, based on such condition. Currently, HIPAA prohibits group health plans from denying plan coverage on the basis of certain pre-existing conditions."


http://www.dwt.com/LearningCenter/Advisories?find=304555

Larry
 

bvdr

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Mar 13, 2003
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Pinehurst, NC
My husband and I are in the process of trying to get long term insurance. It is a type of plan similar to what Barb mentioned earlier but it now also includes assisted living facilities. The premium is all paid up front. I have the phone interview with a nurse tomorrow evening and if we are approved I'll give more details. If we don't get approved then we are putting the premium into a separate account set aside for the same purpose. It is a difficult situation. We have complicated health histories so we will just wait and see.
 

bvdr

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Mar 13, 2003
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Pinehurst, NC
Well, I was turned down for the combination Life/Long term care insurance. It was a policy by John Hancock. I anticipated they would decline my application so I'm not really surprised. I look worse on paper than I think I really am. We haven't heard back on my husband yet. At least he got to complete his phone interview with the nurse which I didn't.
 

kpearse

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Jan 13, 2009
Messages
252
Location
Colonia,NJ USA
My long term care policies come from my company, never a problem. But I did look for life insurance outside of work. The prices were so high. I was told mostly because I was not to far out from my surgery. Thank God my company has it, and it's not a bad price.
 
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