Buy Long Term Care Insurance - CompleteLongTermCare

There are still some people who are quite confused whether they need to apply for long term care insurance or not. The question here is who should buy long term care insurance? This is one of the toughest questions one has to answer and I hope this video can help them come up with a decision before it's too late.

Long Term Care Pharmacy in Atlanta

Guardian Pharmacy, LLC, one of the largest long-term care pharmacy companies in the U.S., in partnership with Matt Hopp and Kathy Gibson, announced the opening of Guardian Pharmacy of Atlanta. The pharmacy serves residents of long term care facilities and group homes, assisted living and skilled nursing communities in metro Atlanta and surrounding areas.

According to Matt Hopp, owner and president of Guardian Pharmacy of Atlanta, “Guardian has a reputation for exceptional customer care which was extremely important to Kathy and me when selecting a partner to help build our business. Guardian’s unique “local autonomy” business model enables us to focus on superior customer service to meet the specialized needs of our residents, while the company’s corporate team assists with the time-consuming business operations like payroll and IT, as well as the complex revenue cycle.”

Based in Marietta, the nearly 10,000 sq. ft. pharmacy opened with 11 employees. Hopp expects to grow that number by the end of 2012. They have invested heavily in technology including eMars and robotic systems to help serve patients faster and more efficiently.

In metro Atlanta, there are more than 1,000 long-term care homes serving approximately 80,000 residents.

No strangers to the long-term care industry, Hopp and Gibson met while working in another pharmacy where they discovered they had similar business philosophies and goals. Hopp has a degree in health administration with an emphasis on geriatrics and an MBA from Georgia Tech. Gibson, who serves as chief pharmacist and director of operations, is a graduate of Samford University in Birmingham, Ala. She oversees the pharmacy’s consulting services, which focuses on quality care through appropriate use of medications and patient education.

Fred Burke, CEO and co-founder of Guardian Pharmacy, LLC, said “We’re excited to partner with Matt and Kathy in opening Guardian Pharmacy of Atlanta, which expands our footprint in the Southeast and provides a pharmacy in one of our core markets. Their experience in long-term care pharmacy and passion for this industry makes them ideal business partners.”

Guardian Pharmacy, LLC has a reputation for superior customer attention, rapid response to client needs and continuous 24/7 service. The company completed a record-breaking 2011 adding five new pharmacies and boosting revenue 35 percent over 2010. The combined Guardian entity serves more than 42,000 long-term care patients nationally through 18 pharmacies across 11 states.

Long Term Care Insurance for Couples

It’s the financial protection that many will need in retirement but few are willing or able to buy. Expensive long term care insurance costs scares off most people.

For married couples, an increasingly popular option called ‘‘shared care’’ may make it more feasible by providing expanded coverage for less money than would otherwise be the case.

Under these joint policies, couples purchase a combined pool of benefits that can be used by either or both spouses. Like most everything in the world of long-term care insurance, it’s complicated. But what’s clear is that fast-rising costs have made shared care a more appealing option.


Q. What does long-term care insurance cover?

A. It pays for personal care received at home, assisted-living facilities, adult day care or nursing homes. Benefits typically kick in when a person needs help performing at least two of the basic activities of daily living, which include bathing, dressing, eating, transferring to and from a bed or chair, and using the toilet.

Q. Who needs it?

A. Long-term care insurance is considered essential for those who can afford it but don’t have the resources to pay for years of future care. Health insurance and Medicare do not cover long-term care needs. And the financial burden is heavy for those without coverage. A semiprivate room in a nursing room costs an average of $76,285 a year, an assisted-living facility runs $40,200, and a year of part-time home care typically ranges from $18,000 to $25,000, according to the insurance association.

Q. How does shared care work?

A. Instead of purchasing a future pool of benefits for each spouse, the policies are combined into a pool they can each use. So, buying a three-year shared care policy each gives a couple up to six years of benefits; each buying a five-year policy gives them 10. If one spouse develops a need for extended long-term care, such as from Alzheimer’s or a stroke, he or she could access most or all of the benefits. And if one dies without having used any coverage, the full benefits generally transfer to the surviving spouse.

Q. So what’s the typical overall cost?

A. Let’s use as an example a 55-year-old couple in good health who purchase a fairly representative amount of insurance with a current value of about $200,000 — or a $180 per-day benefit for three years each of future coverage including 3 percent compound inflation growth. They would pay an average yearly premium of $1,950 for two standard policies without shared care, according to the American Association for Long-Term Care Insurance.

Attaching a shared-care rider would push the cost to $2,260. But it could save them money by ensuring that one can get five or six years of coverage if needed — more than the length of the policy. Couples over 60 or 65 will pay significantly more.

Steps in Choosing Long Term Care

With the continuous rise in long term care insurance costs, people should plan this accordingly and choose the kind of long term care they think will be appropriate for their situation in the future. Most people have no idea how to go about this and that's why Medicare provides interested parties with all the information they need in order to have a comfortable and secured future. Here are the steps in choosing long term care:

1. Assessing your Needs

Will You Need Help with These Daily Living Activities?

• Bathing
• Dressing
• Eating 
• Toileting
• Getting in and out of bed, chair or wheelchair

Will You Need Additional Help in These Activities?

• Shopping
• Preparing Meals
• Going to Medical Appointments
• Household Chores
• Using the Telephone

Will You Need The Following Care?

• Medication Management
• Monitoring your Diabetes
• Getting Oxygen
• Taking Care of Catheters

2. Researching Facilities

There are many types of long term care and living choices for older people. Check out your options first. Find out more about assisted living facilities, nursing homes and other senior care communities before you make a choice.

3. Finding What is Right for You

You can ask recommendations from friends who have already tried this certain facility or you can simply ask your local long term care ombudsman to give you information regarding the facilities you are interested in.

4. Visiting Facilities

It is important to visit facilities first before you make a decision. Don't be shy in asking questions or if you have things you need to clarify. In order to help you, these are some of the questions you can answer after visiting a facility:

• Did they listen to me and make me feel comfortable?
• Did I ask all my questions?
• Did they give me answers that satisfied me?
• Are the employees helpful and respectful?
• Does the facility meet my needs?
• Is the facility clean?
• Can I afford the facility?