Defusing the Care-Cost Time Bomb Before It Busts Budgets — Federal, State & Family
KIRKLAND, WA – Oct. 7 (SEND2PRESS NEWSWIRE) — As 77 million baby boomers approach retirement and most Americans enjoy longer life spans, a time bomb ticks. What happens when tens of millions succumb to longer-lasting illnesses or injuries? Regular health insurance won’t cover it. Uncle Sam doesn’t want to. State-run Medicaid does contribute to long-term care expenses — for the indigent. But Medicaid costs are ballooning to the breaking point. Family assets are commonly tapped, but soon run out except for the very wealthy. So who’s going to protect longer-living Americans, so they can bounce back from down time without somebody going broke?
Editor’s Note: a CORRECTION was issued for this news release on Oct. 11, 2005. Click this link to read.
On October 17 key VIPs will congregate in Kansas City to start defusing the time bomb. The event — a briefing for the press and concerned experts — will be hosted by LTC Financial Partners LLC, the nation’s largest long-term care insurance brokerage representing multiple carriers. The briefing will feature U.S. Senator Kit bond (R, MO) and executives from MetLife, John Hancock, Genworth, and MedAmerica. “We’ll hit the issue head on,” says Cameron Truesdell, LTC Financial’s CEO, who will moderate. “Government alone can’t solve the problem,” he asserts. “Neither can the private sector alone. But together, we can do it. We can protect everyone without bankrupting anyone.”
*(Photo Caption: Cameron Truesdell, CEO of LTC Financial Partners LLC, host of the October 17 briefing.)
The briefing’s theme is a question that will be answered by each presenter: “How can we make long-term care protection as common as auto insurance … so no American risks financial ruin from longer-lasting health needs … and government doesn’t go broke trying to fill an unfillable gap?” The solutions to be presented are likely to be a combination of legislative reform, tax breaks, and insurance-industry moves to make care policies more pervasive. For example, Senator Bond has sponsored the Ronald Reagan Alzheimer’s Breakthrough Act, which includes an above-the-line tax deduction for the purchase of long-term care insurance.
The other featured speakers will be Christopher Perna, President of MedAmerica; Joe Catalano, Vice President of John Hancock Long Term Care Insurance Distribution; Buck Stinson, President of Long Term Care Insurance at Genworth; and a senior executive from MetLife. They will talk about the role their respective companies will play in solving the problem. Cameron Truesdell will talk about the role to be played by specialists in the field: the nation’s insurance agents and allied professionals such as financial advisors. “This briefing is just a start,” says Truesdell. “There will be other events on the road to 100% success.”
The briefing will be held on Monday, October 17, from 9:15 to 10:45 AM in the Roanoke Room at the Westin Crown Center Hotel, Kansas City, MO. Attendance is limited to 100 representatives of the media, elected officials, and other people in a position to act toward a solution. More information is available at — www.eranova.com/LTCFP/kc-briefing.htm
News issued by: LTC Financial Partners LLC
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Original Story ID: (884) :: 2005-10-1007-001B
Original Keywords: LTC, Cameron Truesdell, Kit Bond, Missouri, Long-Term Care, conference, briefing, Medicaid costs, longer-living Americans, MetLife, John Hancock, Genworth, MedAmerica. LTC Financial Partners, Washington, healthcare, insurance, brokerage LTC Financial Partners LLC