NYC Healthcare News

Panelists urge consumers to prepare for possible long-term care issues in the future

March 14, 2016

"Lincoln is committed to helping financial planners, attorneys and other intermediaries become comfortable in bringing up the long-term care conversation with their clients," said Schmitt.

"Through extensive research conducted by Lincoln Financial Group, our findings have concluded that to many consumers buying a long-term care plan gave them a sense of helping to extend their ability to remain independent," she said. "Many felt having the conversation about long term care and putting a plan in place helped them to ensure greater control over when, where and how they wanted to receive care, should they need it."  

Schmitt said, "Lincoln believes it is critical that everyone involved in long-term planning have a deeper understanding of what drives consumers to take that next step and also what gets in their way, so they can better help them decide on the best funding options to meet their specific needs."

"The good news is that when you do pay privately you command red carpet access to top quality care in your own home or the very best care facilities," said Moses. "That cannot be assured if you rely on Medicaid, which often pays nursing homes and other long-term care providers less than the cost of providing the care," he said.

"It is critical to ensure Americans are properly educated and that they understand the risks they face, the sense of urgency needed to properly prepare for possible long-term care issues in the future, and the funding options available for mitigating those risks," said Bucklee.

Bucklee said, "Once people are in the right frame of mind consumers should discuss long-term care issues with their loved ones and with their financial advisors."

Source: Lincoln Financial Group