Course Description
This course was updated on 1/8/2021.
Long Term Care Update is a basic long term care course that examines the subject in four chapters. Chapter 1 considers the nature of long term care, including the typical conditions requiring long term care, the differences between skilled and custodial care, and the settings in which long term care is delivered.
Chapter 2 addresses the issues of long term care costs and payers, including the national average costs for skilled and custodial care in nursing homes, assisted living facilities, adult day care facilities, and in the care recipient’s home. Population trends and the effects on long term care are discussed, with particular consideration given to the baby boom generation. Chapter 2 ends with an examination of the various long term care cost payers, including Medicare, and Medicaid.
Chapter 3 discusses long term care insurance and various alternatives to stand-alone policies for payment of benefits. The chapter considers the various approaches used by insurers to deliver benefits, benefit triggers, basic and optional long term care insurance provisions, and the tax treatment of long term care insurance premiums and benefits. The chapter ends with a consideration of the various alternatives for long term financing.
Chapter 4 addresses the suitability and ethical issues that impact the long term care insurance sale, including the need to provide full disclosure to enable the client to make an informed decision, and the requirements for making an appropriate long term care insurance policy replacement.
