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Florida happens to be one of those states suffering expensive long term care (LTC) yet only a few of its residents have secured long term care insurance. In hopes of getting more people to plan their future health care needs, the state continues to push Florida Long Term Care Partnership plans. Florida’s new long term care insurance sales can be attributed to the fear of young adults of experiencing what their parents have with their grandparents. Since most baby boomer took upon their shoulders the responsibility of taking care of their parents when the latter were diagnosed with a serious health condition and thus required LTC, they ended up neglecting their own needs. Many of Florida’s young adults ranging from ages 28 to 45 have managed to secure an LTCI policy. They couldn’t care less about other people’s opinions on longer premium payment because what matters to them is the fact that they don’t have to live in uncertainty someday. Now those who remain without a plan for their future health care needs should start looking into their options lest they suffer the financial pitfall, as the cost of care will continue to go up in the years to come. Right now, the median annual cost for a nursing home in Florida is $83,950 but in less than 20 years financial experts and LTC specialists have projected a fourfold increase. How many people can possibly afford to pay out $335,800 yearly for using a private room in a nursing home? One, perhaps? Or make it three. If only people can see the substantial amount of benefits they could receive from an LTCI policy, they might give it a fresh look and eventually avoid falling head first into an irreparable financial ordeal. Florida Long Term Care Partnership Plans Through the partnership LTCI program which was established by the state and private insurance companies, the problem of uninsured individuals will hopefully be resolved soon. In a survey which was conducted among uninsured Floridians in the line of 50s, it was found out that the main reason they did not purchase an LTCI policy is to avoid using up their savings on the annual premium. In other words, annual premiums of LTCI policies are seen as money-eating monsters which people would rather avoid than challenge head-on as what the hero would normally do in storybooks and in movies. In reality, though, an LTCI policy’s annual premium should not arouse fear because it is negotiable. People should start seeing LTCI from a new perspective other than just mere expense. You pay $5 for a cup of first-class gourmet coffee only to gulp it down in less than an hour. You bargain for a pair of designer jeans or shoes which caused a stir in the fashion industry a few years back, don’t you? You negotiate the terms of your dream house. You have always been capable of getting what you want by negotiating for a fair price, and this is exactly what LTCI entails. Contact a licensed insurance agent in your area today to discuss Florida Long Term Care Partnership plans and long term care quotes . You’ll be surprised to learn that there are many ways to save on a policy’s premium without compromising your coverage.
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