Long Term Care Consultants…there’s just no substitute for:
Long-Term Care Consultants was founded in 2000 in Richmond, VA. Our mission is to provide education and awareness to individual clients, employer groups, financial advisors, other insurance professionals, certified public accountants, attorneys, physicians, caregivers and anyone who wants to understand what is the best way to leverage their money and most tax efficient way to pay for long term care based on their individual circumstances.
What is Long Term Care Insurance?
but the idea of getting old doesn’t appeal to anyone.”
– Andy Rooney
Most of us don’t think we are getting old. I mean, 50 is the new 30, right? And 65? Well, that isn’t “over the hill” it is “just right to play more golf.” While tongue in cheek, there is truth in these adages. We are living longer in the USA than ever before. Further we live with better health and better care than generations behind us.
No matter how we laugh it off, or shrug and assume we can deal with this later…the truth is that expensive, extended care can happen to you at any age. We have all heard of someone who had a stroke at a young age, had an accident that left them paralyzed, or were diagnosed with a degenerative disease like Lou Gehrig’s or MS. And, if we are lucky enough to live to a ripe old age, time and gravity eventually take their toll. We are very likely to need care simply because our mind and body has become frail.
If you don’t have a plan for your long-term care needs, someone will have a plan for you. In fact we are seeing a whole new “plan for you” sweeping across the USA.
In 2021 there was an unprecedented tax in the state of WA specifically to fund a small pool of money to pay for a year or less of care. It is clearly a mechanism to take some of the stress off Medicaid (the old welfare program), which pays for about 53% of all senior care in the USA. This new tax on W-2 employees is the state’s hedge to protect their creaking Medicaid program. The good news, though, was that folks who owned a long term care policy were exempted from the tax. There was such a run on long term care insurance sales in the state that insurance companies could not keep up. In fact, many of the top companies stopped offering coverage in the state until the dust settled.
What, you ask, has that to do with us here in Virginia? Well, it is only a matter of time before something similar is proposed here. Already 12 other states have initiatives in place. VA is not one of the 12, but it surely will not be long before Virginia legislatures take up this same issue.
The time to deal with long term care planning is not when the state is forcing you to decide between a tax and a policy – such emergency, reaction planning is sure to give you least advantageous results. It is far better to have a plan in place while you have time to consider it carefully and make the best choice for you and your family. Below are some of the most common FAQs.
What does Long Term Care Cost?
Frequently Asked Questions
Q: What age should I be to consider Long Term Care coverage?
A: Most insurance companies require you to be at least 18 years old and under 80.
Q: What does Long Term Care cover?
A: This type of coverage pays for home care, assisted living care, memory care, and skilled nursing care – all the types of care that health insurance will not pay for. How much it pays for each type of care depends on how much benefit you buy.
Q: What if I don’t choose to own Long Term Care coverage?
A: Until Virginia passes a similar tax as described earlier, you would pay for the care completely out of pocket until you hit the state poverty floor (under $2K in net worth) and then Medicaid would pick up the cost of your care. If Medicaid steps in to cover the cost of care, they are the payor of last resort. Your income will be used to cover your care first, then Medicaid pays any shortfall. Further, care must happen in a Medicaid-approved skilled nursing home.
Q: How much does Long Term Care insurance cost?
A: The cost varies with age, type of product, discounts for good health or spouse/partner, and amount of benefits. The only way to know with accuracy is to get a quote from a qualified long term care specialist.
What our clients say
Several years ago, I took out long term care insurance policies for myself and my husband. It seemed like a smart thing to do and the agent representing the company, Linda Caruthers, was both knowledgeable and clearly invested in providing excellent service. Over the years, as questions about one thing or another have surfaced, I have always felt comfortable in knowing that I could reach her directly should there ever be a problem concerning a policy. That kind of personal attention is particularly important when you need quick reliable aid and only have at your disposal a computerized help station! The human touch really matters, and Linda makes your needs her priorities!
I have known Linda Caruthers for several years. She is caring, compassionate and always willing to help others. I highly recommend Linda as the premier expert in the area of long-term care protection, chronic care and any assistance related to these pressing issues. Linda is our go-to-expert for anything related to long-term care insurance. I have several clients that I’ve referred her to, with tremendous results. We even went to Linda to manage our own long-term care insurance needs – and we are thrilled.
“Linda Caruthers is a valuable resource, and her knowledge and work experience in the long-term care insurance industry provides insight into the issues we face as we age. In addition, her compassion for others and her strong work ethic add to her expertise, and she has been a pleasure to work with when planning educational programs and personalized, one-on-one meetings for employees. Linda and her team of long term care professionals have also been available to join us at annual Wellness Fairs, Benefit Fairs and Retirement Planning Workshops. I am very thankful for Linda’s commitment to employees and appreciate all she does to promote wellness on our campus. Thank you, Linda,!”
“I have known Linda Caruthers for many years as a professional in Long Term Care Insurance (LTC). She is one of the most knowledgeable, if not the most knowledgeable persons in the industry. Linda is always thinking and researching what is the best strategy for her clients. She has assisted me as a LTC broker with saving many of my client’s time and money in finding the right company and product to meet this need. But more important, she is one of the most sincere and caring persons you will ever meet. She takes each of her client’s concern to hear and it shoes in her service to them.
I highly recommend Linda for any of your Long Term Care needs. You do not know when you may need that financial security no matter your age.”
“Our firm has worked with Linda for the past 10 years. Not only is she extremely knowledgeable about long-term care, but she is able to educate and communicate with clients in a very comfortable fashion. I trust Linda to help address and solve any long-term care concerns my clients have.”
A shout out to Linda Cauthers!
My wife and I worked with Linda over a number of months to dive deeply into the LTC insurance products and processes. Linda was generous with her time and talent, explaining concepts and evaluating different options for us. She was especially helpful in guiding us to focus on what we envisioned for our “golden years” and then strategizing on solutions to meet those goals. We highly recommend partnering with Linda when considering LTC options. As we learned, it is never too early to start this journey.
This is a testimonial about the wonderfully helpful, insightful and professional advice from Linda Caruthers, one of your Long Term Care Specialists. After carrying a very expensive and valuable policy for almost twenty years, I am at that point of how and when to move ahead with claims for home care assistance. Thanks to Linda’s tremendous help, I’m much better informed and able to understand my policy more fully and make important decisions. In short, Linda is the best, and I’m very lucky to be working with her.
I consider myself fortunate to have met Linda Caruthers and subsequently enlisted her help in purchasing a LTHC plan. She did a thorough job of researching several plans and giving me options to choose from. It has been approximately 15 years since Linda became my agent, and I’m still glad I made the decision to allow her to represent me in such an important life decision. She even agreed to meet w/my children so they would understand the plan. This was especially important to me, since I am a widow. It also gave my two sons confidence that I was being well cared for in a professional way.
An excellent speaker who really knows her subject and is aware of all the gaps in people’s knowledge of LTCI and can propose ways to follow up on issues. She also knows what people do not know about the use of the insurance and gives good tips on how best to use it.
Complete review of Long-Term Care Insurance by an expert.
Her mastery of the content!!
I learned so much!
The instructor, Linda’s, expert knowledge.
useful information, well presented
Recently, I had the opportunity to hear Long-Term Care consultant Linda Caruthers speak about long-term care. She delved deeply on all facets of long-term care…from benefits for which these policies are best known to the much lesser known benefits and how to best utilize policies. Honestly, I was surprised by the myriad of benefits that I had overlooked in our policies that can be used on a timetable that is conducive with needs and planning. She helped me focus on the importance of including LTC in my personal strategic plan and goals.
She also addressed many stress-saving attributes, such as notifying the appropriate people, such as legal counselors, etc., about policies, POA documents, etc., rather than waiting until filing a claim at a time when stress is already elevated.
I have engaged many consultants over time to help me plan for various benefits and services during my lifetime. I can say that Linda is at the very top of that list. Not only is she the most thoroughly knowledgeable person on the LTC topic but she has her client’s interest at the forefront. She asks deep questions and listens actively for any triggering comments that would help her offer the most accurate and best advice.
I consider myself to be most fortunate to have met Linda Carurthers. She is a valuable resource to be included in a family’s overall health and wealth planning.
As a family physician, my philosophy is that as an individual you are not a commodity, so you shouldn’t accept assembly-line healthcare. My practice is personalized to fit your unique needs and busy schedule. I have known Linda Caruthers for several years and over that time, I have come to know that she has a similar philosophy when it comes to long term care issues. She and her team work with potential clients on a very personalized basis where she ensures that people are educated properly regarding the complex area of long term care so that they can make an “informed” decision regarding what is appropriate for their situation. As a result of her philosophy I refer clients to her on a regular basis.
It was our sincere pleasure to meet with you last Friday. Our experience with you was truly amazing. We still cannot believe such a person as you exists on this earth. You were so pleasant, efficient and knowledgeable and ever so passionate about your job. You went above and beyond the call of duty to help us understand our long-term care policy. Thank you for your kind and professional services. Linda, it is a great feeling to know if we ever need help that you will be there for us. Thank you for the summary of our meeting. We value your suggestions and will begin acting on them soon. We have our work cut out for us. Take good care. YOU are the BEST!”
“My name is Richard S. Smith a 1990 retired U.S. Army Lt. Col. and more recently, a staffer with the National Education Association from 1992-2010. I met Ms. Caruthers in 2004 in my capacity as a member benefits consultant and advisor to the various business enterprises providing products and services to the NEA membership and their families. I soon recognized that Ms. Caruthers presented her designation as a CSA (Certified Senior Advisor) to a level that exceeded expectations. Her technical knowledge of the topic, Long-Term Care management, was without equal. More significant was her empathy and ability to connect with her client or audience as she explained the web of options one should consider in confronting the challenges of longevity. She is sought after by insurance agents and financial planners as they recognize the service that she can provide to the financial decision making for their clients. She is unquestionably at the top of her industry and performs with the upmost of integrity and reliability.”
“Linda Caruthers builds on her teaching past to be the perfect partner for clients and advisers as they explore the many facets of long term care planning. With an emphasis on compassion and education, Linda offers a warm, comfortable approach when talking about long term care planning, and her deep knowledge of the provider marketplace makes her a great partner for anyone who has questions about Aging in Place.”
My husband and I are very appreciative of the information and guidance given us by Linda Caruthers. She answers questions with ease and without hesitation. It is refreshing to experience her positive, reassuring approach to something we consider complex. Not only is she extremely knowledgeable about long term care insurance but it’s obvious that she stays on top of the latest changes in the long term care industry. Her reliability and kindness are outstanding. We’re very thankful for her expertise and helpful manner.
I recently took a course from Linda entitled “Understanding Long Term Care.” I have had long-term care
for 18 years and, aside from making payments, I never investigated the terms and conditions closely.
This course gave me a deeper understanding of this valuable asset and how I can use it to best effect.
So, if you have long-term care insurance or don’t have it, it is important for you to have a thorough
understanding of your policy or why you should buy a policy.
Thank you so much! I don’t feel like I’m flying nearly as blindly as I was before your session. And it’s great to know that there’s someone locally who can read and interpret Insurance-ese 😉
My husband and I would like to thank you for your assistance, and for educating us, on long term care insurance and life insurance with a long term care rider. We are so glad you were recommended to us by our Medicare insurance advisor. You literally came to the rescue with information and possibilities. All was greatly appreciated.
Thank you Linda Caruthers and your staff for working with us over the past year since retirement from the
Foreign Service to purchase our new additional LTC insurance plan. We very much appreciate your
patience in answering our any-and-all questions that we raised in the slow, deliberate process of making
our decision. We also appreciated your willingness to meet on our schedule at various times over many
months to go over in detail and clarify our understanding of this most important of life purchases.