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Insurance stressed for aging at First National Long Term Care Forum Long term health care called growing need.

Over 500 insurance agents from across the country who specialize in selling long term care insurance convened in Washington D.C. recently for the First National Long Term Care Forum to better their knowledge and understanding to the complexities of selling long term care insurance, Medicaid and estate planning well enough to give the American public the proper background and knowledge the public will need in preparation for a revised Medicaid system.

With Congress rapidly changing Medicaid regulations and the 80 and-older segment of the population growing fastest, long term care insurance has become the best way to keep nursing home costs from wiping out a person’s life’s savings. That’s the opinion of Harley Gordon, a nationally recognized attorney specializing in laws affecting the elderly. Gordon spoke in premiering the first professional designation for the long term care insurance agent. The designation known as CLTC (Certified in Long Term Care) assures the public that an agent holding this designation has the right educational background to sell long term care insurance and to advise on estate planning and Medicaid issues.

With nursing home costs ranging from $60,000 to $70,000 a year, an extended stay in a nursing home can quickly wipe out a person’s savings. That leaves long term care insurance.

The problem, Gordon said, is that few people understand the complexities of long term care insurance, Medicaid and estate planning well enough to give their clients good advice. A certification program is needed to properly educate insurance agents selling long term care insurance and to protect the consumer.

The three day conference was highlighted with legislative updates on health care reform at the nation’s Capitol. Held in the prestigious Cannon Caucus Room, Joel White, Senior Legislative Assistant to Congressman Christopher Shays (R) Connecticut announced Shays bill (Proposition 210) that calls for the Federal government to educate the American public on preparing themselves for long term care needs and tax deductions for all
Americans who pay long term care insurance premiums. This bill will be presented to Congress when it convenes in January and has bipartisan support in congress and the senate.

Jennifer Baxendell, a majority staff member of the Senate Finance Committee for Medicaid spoke on the committee’s active legislative agenda on Medicaid reform for the 107th Congress. All this met with great applause.

The conference, held at the Renaissance Hotel in Washington D.C. was arranged by G. J. Luque & Company, specialists in long term care education and marketing for the insurance industry. President Gregory Luque said he organized the conference to honor the insurance agent who specializes in selling long term care insurance. "The long term care insurance specialist recognizes the need to educate the public, particularly with the future of federal programs uncertain. It’s very important that the American public be educated on this", Luque said. "Medicaid and Medicare are not going to be there for us..."Even though it’s starting to get recognition, the general public is not aware (of the need)," Luque said.