Long Term Care Insurance

[LinkC]

I was just told today that my OSA may make me ineligible for LTC insurance. The company (John Hancock) hasn't officially nixed my app yet, but the agent seems doubtful it will go thru.

Anyone had experience with OSA disqualifying any kind of insurance??

[Janknitz]

Some companies will disqualify you if you sneezed last week. They are betting on NOT having to pay out, and any medical condition is likely to make them think twice about insuring you.

If they do turn you down, check with a broker to see about other companies and if you strike out there you should see if your state has a state-sponsored alternative like a high risk pool. A state sponsored plan still may be affordable, because the state would rather you pay for insurance instead of depending on state Medicaid/Medi-Cal funds later on to pay for your long-term care.

Long term care insurance provides not only nursing home care, but may also cover care at home or in a less restrictive environment like residential care or assisted living. But you should keep things in mind: Benefits for LTC are usually for a limited period of time, typically 3 to 5 years. They often have a lot of restrictions on how and where they can be used. Make sure you understand the inflation provisions--a policy that sounds good now may turn out to be just a drop in a bucket if you need care later. Also, be sure that you understand that if you pay for many years on a LTC policy and then they raise the rates so high you can no longer pay, you will lose all the money you have already invested in that policy--most don't carry any cash-out value. Some states limit the amount of premium increases each year, but if you are on a fixed retirement income, you have to consider if you will still be able to pay as the premiums rise or if you are better just setting that money aside for yourself.

If you or your spouse was a veteran of a war (served during wartime for even just one day), there are some very valuable VA benefits you may be entitled to if you need care at home or in a long term setting, commonly known as "Aid and attendance" benefits (the real name is "Veteran's pension"). Make sure your spouse or other family members know where your discharge papers are if you think you might be eligible for this benefit if you become ill or incapacitated. Your local VA service organization can tell you more if you are interested.

[Wulfman]

I was just told today that my OSA may make me ineligible for LTC insurance. The company (John Hancock) hasn't officially nixed my app yet, but the agent seems doubtful it will go thru.

Anyone had experience with OSA disqualifying any kind of insurance??

This has been a hot subject (here) at various times through the years.
From following those threads over the years, the answer is "Yes".


Den

[Guest]

Anyone had experience with OSA disqualifying any kind of insurance??

No. But no discounts for CPAP.

Genworth Financial.
Genworth Life Insurance Company.

[LSAT]

I believe OSA can kill you, but, should not disable you to the point of needing a nursing home. It would disqualify you or make life insurance very expensive, but, problibly will not affect LTC insurance. There are some things like arthritis that could put you in a nursing home, but will not kill you...then there is high BP or heart disease that could kill you, but, not put you in a LTC facility. It will be interesting to see your outcome. I sold insurance for 15 years prior to retirement and my wife and I took out LTC insurance 5 years prior to being diagnosed with OSA.....

[Janknitz]

believe OSA can kill you, but, should not disable you to the point of needing a nursing home

I disagree, unfortunately. OSA is documented to be the precursor to conditions that CAN put you in a nursing home--diabetes, stroke (secondary to hypertension and/or diabetes), multi-infarct dementia, acquired heart disease. These are among the most common diagnoses in long term care facilities. Not everyone is in long term care because of Alzheimers, and it seems to me there have been links drawn between Alzheimers and OSA also. Strokes don't always kill, but they can cause devastating impairments that often require long term care. Bad news for all of us!

The question is, does treating OSA really lower your risk of these conditions? If there is documented proof that CPAP lowers your risk of the bad things OSA causes--then that SHOULD (but probably won't be) considered by the LTC insurance underwriters. I'm not so sure there is that much documented proof that treatment lowers the risk-- I've seen lots of studies that say "UNTREATED OSA causes such and such", but very few that actually say "treating OSA with CPAP lowers your risk of such and such". We make a lot of assumptions that treatment reduces the risk, I sure hope that's true.

[DreamStalker]

I was just told today that my OSA may make me ineligible for LTC insurance. The company (John Hancock) hasn't officially nixed my app yet, but the agent seems doubtful it will go thru.

Anyone had experience with OSA disqualifying any kind of insurance??

Gosh darn. Too bad Obama pulled a bait and switch on everyone with that single payer health insurance he promised.

Hope you get something worked out with those greedy insurance SOBs ... you betch'a!

[Janknitz]

Gosh darn. Too bad Obama pulled a bait and switch on everyone with that single payer health insurance he promised.

Nobody ever promised us long term care insurance--it is not the same as medical insurance. It was never on the table when national health care was discussed, but it is always on the table when states and congress are looking to cut their budgets.

There is very little coverage for this expensive need unless you purchase long term care insurance or are willing to go on state and federal welfare to receive it. Nursing home care can cost $7000 to $10,000 a MONTH in my state. 24 hour home care is MORE--$10,000 to $15,000 per month from a home care agency. Residential care (elder care in small group homes) is the most economical but the least covered option.

People don't like to think about this until it slaps them in the face--very few people plan for it. It is a national shame.

[Guest]

I have had LTC insurance for a few years now. Recently, I tried to increase the coverage. They sent me a what seems like a 50 page questionnaire. I spent a long time filling it out and then near the end, it asked if I used CPAP. If you answer yest to this question, you DO NOT qualify for increased coverage. Glad I bought mine when I did.

[PST]

Gosh darn. Too bad Obama pulled a bait and switch on everyone with that single payer health insurance he promised.

Hope you get something worked out with those greedy insurance SOBs ... you betch'a!

Perhaps there is a joke intended here that's going over my head, but if not, this is dead wrong. Obama never promised a single payer system or anything like it. There is a good summary of Obama's and McCain's positions in an old New York Times pre-election piece at http://elections.nytimes.com/2008/presi ... ealth.html. Neither of the other major Democratic candidates proposed single payer. I'll recant, cheerfully, if you can show me a reliable source where Obama promises single payer, but I don't think there are any. In addition, in case anyone here has forgotten, the plan that passed did so after more than a year of effort and by the narrowest of margins. Even full of compromises, with no public option at all, it was touch and go until the last moment. Anyone who thinks that Obama could have obtained something closer to single payer by being tougher and more uncompromising is living in a dream world. I'm sorry, but it's just crazy to assert that the plan we got represents some kind of broken promise on Obama's part. Love it or hate it -- and I have no stomach myself for debating this again -- he (and many others) showed remarkable persistence and fidelity to the idea of getting most Americans on the health insurance rolls, with guaranteed issue, community rating, and no exclusion of pre-existing conditions.

[DreamStalker]

Gosh darn. Too bad Obama pulled a bait and switch on everyone with that single payer health insurance he promised.

Hope you get something worked out with those greedy insurance SOBs ... you betch'a!

Perhaps there is a joke intended here that's going over my head, but if not, this is dead wrong. Obama never promised a single payer system or anything like it. There is a good summary of Obama's and McCain's positions in an old New York Times pre-election piece at http://elections.nytimes.com/2008/presi ... ealth.html. Neither of the other major Democratic candidates proposed single payer. I'll recant, cheerfully, if you can show me a reliable source where Obama promises single payer, but I don't think there are any. In addition, in case anyone here has forgotten, the plan that passed did so after more than a year of effort and by the narrowest of margins. Even full of compromises, with no public option at all, it was touch and go until the last moment. Anyone who thinks that Obama could have obtained something closer to single payer by being tougher and more uncompromising is living in a dream world. I'm sorry, but it's just crazy to assert that the plan we got represents some kind of broken promise on Obama's part. Love it or hate it -- and I have no stomach myself for debating this again -- he (and many others) showed remarkable persistence and fidelity to the idea of getting most Americans on the health insurance rolls, with guaranteed issue, community rating, and no exclusion of pre-existing conditions.

Yes. Post begins with "Gosh darn ..." and ends with " ... you betch'a" = Palanite speak.

True, Obama did not promise or support single-payer system during his 2008 presidential run but he DID pledge that, "if elected, all Americans would have health care coverage by the end of his first term" and he DID support a single-payer system as a US senator in 2003. True, Obama had much better intentions for increasing coverage for all than previous presidents but still fell short in my opinion and by his own pledge. The so-called reform was more of a give-away to the big money-making health industry than to the people who need dependable health care. There are two more major congressional elections before 2014 ... giving the insurance lobby plenty of time to buy up candidates to repeal the whole thing before it even goes into effect. So there.

[sleepycarol]

Aflec denied me short term disability (3 months) due to OSA. Thank goodness our school has now increased the number of sick days we can accumulate. I figure by the time I am retirement age I will be close to the maximum days allowed (we get 10 per year up to a maximum of 30 accumulated and it went to 90 accumulated.)

[onetimer]

My experience with LTCi and John Hancock is that if your pulmonary function tests are normal, are a non smoker and using the CPAP with no additional oxygen, there is a good chance that you will be insured. I know people using the CPAP that have applied for and received LTCi policies. Glad to hear that you are taking care of yourself and planning for the future.

[streitmore]

I was just told today that my OSA may make me ineligible for LTC insurance. The company (John Hancock) hasn't officially nixed my app yet, but the agent seems doubtful it will go thru.

Anyone had experience with OSA disqualifying any kind of insurance??

Most of companies providing long term care insurance employ strict underwriting guidelines since this kind of insurance is no joke. There are certain medical conditions that are disallowed to serve the interest of both company and the insured invididuals

[ZQuest]

I was just told today that my OSA may make me ineligible for LTC insurance. The company (John Hancock) hasn't officially nixed my app yet, but the agent seems doubtful it will go thru.

Anyone had experience with OSA disqualifying any kind of insurance??

Hello:LinkC

You brought out a good point,about insurance coveraged we on this forum pretty much know the down side of OSA health wise,now i'm wondering what other negative side effects does having OSA would have( with our employer's knowing or even better yet Our Automobile policy holdel's) this would be a good reason for the auto insurance companies to greatly increased their premium,or perhaps even denied the policy for OSA patients. I am also wondering if this is another reason that we need a script to buy Cpap equipment. ( For insurance purposes) Hmmm just a thought.


Regards: Phil