Long Term Care Insurance Costs at the Core of the Debate Regarding the Demise of a Financial Behemoth on UltraTrust.com

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On the first week of November 2014, a major insurance giant issued strong statements that reflected huge and unexpected costs in their long-term care insurance operations. Rocco Beatrice, Managing Director of Estate Street Partners and UltraTrust.com responds in a recent article.

Although planning for Medicaid and long-term care may sound challenging for some individuals, it must not be ignored.

Rocco Beatrice, Managing Director of Estate Street Partners, LLC provides his take on circumstances in the Long-Term Care Insurance industry in his recent blog post, “Long Term Care Insurance Costs: Causing the Demise of a Financial Behemoth.” Estate Street Partners is an asset protection and estate planning firm that operates the UltraTrust.com website. In his blog, Mr. Beatrice explains why those who are retirement planning should consider the fall of major industry leaders and why long-term care insurance merits greater discussion.

Mr. Beatrice explains why the recent fall of an industry leader should be considered among individuals who are planning their retirements: “Asset management and estate planning are important financial issues these days. It is important to consider the bond market, which some insurance companies heavily rely on to build their reserves. Fund managers who serve the insurance industry tend to follow the efficient markets hypothesis, which has been working against investors, even those that choose the relative safety of sovereign debt, during the financial crisis. What they should be doing instead is considering tactical asset allocation, which is something that our firm believes in.”

Aside from tactical asset allocation, Mr. Beatrice asserts that recent industry failures merit discussion on the greater issue of long-term care insurance: “A major part of estate planning is centered on long-term care. With annual nursing home expenses ranging between $85K and $150K, it is not difficult to see how long-term care insurers are running rapidly out of cash. One reason for the popularity of long-term care insurance policies is Medicaid; this government-sponsored program can pick up the cost of nursing home expenses, but only after patients have already depleted their assets and life savings. There is also the issue of earning too much of a monthly income to become eligible for Medicaid, and that is why we advise our clients on properly setting up their UltraTrust®.”

The UltraTrust® offered by Estate Street Partners is a legal instrument used for maximum asset protection and estate planning. Depending on how it is set up, an UltraTrust® can help individuals qualify for Medicaid and its long-term care benefits without having to spend all their money and deplete their savings. Mr. Beatrice explains: “Although planning for Medicaid and long-term care may sound challenging for some individuals, it must not be ignored. Using the UltraTrust® can help greatly in demystifying this process, particularly at a time when we are seeing these giant insurance companies struggling to meet the commitments they made to their clients who purchased long-term care insurance policies.”

About Estate Street Partners (UltraTrust.com):
For 30 years, Estate Street Partners has been helping clients protect assets from divorce and frivolous lawsuits while eliminating estate taxes and probate as well as ensuring superior Medicaid asset protection for both parents and children with their Premium UltraTrust® Irrevocable Trust. Call (888) 938-5872 to learn more.

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Rocco Beatrice

Rocco Beatrice
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