Why are LTC premiums going up?

The premiums for your long-term care insurance policy are going up an average of 83 percent, an increase of $111 per month. And that’s the average. For roughly 102,000 enrollees, premiums will go up about $200 per month, an increase of between 100 percent and 126 percent.

So what now? Is there any way you can reduce the premium increase coming your way? Short answer, yes? There are a variety of ways including downsizing your current policy. You may be able to opt for a lower daily payment, reduce the number of years your LTC policy covers or make changes in inflation-adjustment options. Where to go first:

This week onYour Turn“, our guests will be Paul Forte and Joan Melanson with Long Term Care Partners. They’ll explain why what happened happened. And talk about new rates and options, and key dates enrollees need to be aware of in the EDP (enrollee decision period). That includes how much time you will have to shop around and possibly make changes. This includes a promised state-of-the-are customer website, webinars and videos, and call centers where you can talk to customer reps who understand the program and your options.

Because this is to spell out changes, and your options, we can’t take individual questions on air although we will do that in upcoming shows on the subject. But if you have a question email it to Mike and we will get it answered.

So listen today (and tell a friend) and remember all our shows are archived on our homepage so you can listen or pass them on anytime.


Your Turn with Mike Causey


Learn about everything from pay, benefits and retirement, to buyouts, COLAs and pay freezes. Call the show live Wednesdays from 10-11 a.m. at 202-465-3080 with your questions. Dial 605-562-0264 to listen live from any phone. Follow Mike on Twitter and send him an email with your questions and comments. Subscribe on Apple Podcasts or Podcast One.

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