The Pension Protection Act and Long-Term Care Coverage

By Brenton Fewox

Choosing whether or not to purchase long-term care insurance is one of the most important retirement decisions we will make. Despite the benefits, most of us do not have long-term care insurance.

What deters us from purchasing long-term care insurance? Here are the two most common reasons. First, we think it’s too expensive. Second, we don’t want to pay for something we might never use. 

Because the government currently pays a significant portion of the long-term care costs in our nation, policymakers are highly motivated to find ways to encourage us to cover our own long-term care expenses; hence, the creation of the Pension Protection Act of 2006. This new legislation defines new long-term care solutions offered by insurance companies available in January 2010. When compared with traditional long-term care insurance policies, these new products are groundbreaking.

Even though the government has done an admirable job creating these new long-term care programs, they have not done a very good job of marketing them. Consequently, Senior Review is sponsoring a special educational event at a location near you. At this
free-to-the-public event, attendees will learn about these new government-defined long-term care programs—what they are, how they work, and how they differ from traditional long-term care insurance policies.

Whether you have recently purchased long-term care insurance, are considering buying long-term care insurance, or have determined long-term care is not for you, do yourself a favor and attend a workshop to learn about new long-term care coverage options offered under the Pension Protection Act of 2006.

To reserve your spot at an upcoming Pension Protection Act workshop, please refer to the advertisement on the next page for seminar dates, times, and locations near you.

For more information, please contact Brenton Fewox, IAR, LUTCF, from Anthem Financial at 505-338-0206.