Charles Robinson Discusses Long Term Health Insurance at Rotary Club of Clearwater Meeting
Americans regularly buy home owners insurance and auto insurance while neglecting the type of insurance they will more likely use than either home owners or auto - long term health care.
Those were the observations of noted elder law attorney Charles Robinson as he addressed the Rotary Club of Clearwater last week. Robinson told the club that the lack of long term health care is one of the greatest threats to the carefree lifestyle we all aspire to in our retirement years.
Robinson went on to say that the time to buy long term health care is as early as you can afford it because underwriting of such insurance has tightened over the years so that many ailments that were overlooked years ago are now reason for denial of coverage. In answer to a question from the audience, he said that the coverage should be obtained no later than age fifty.
The 50-year-resident of Clearwater also touched on the various health schemes now being debated by Congress and our health care system as it stands now.
Robinson pointed out three issues that threaten America's health care system. The first being the proliferation of Alzheimer's disease. For instance medical experts say if you reach age 80, your chances of getting the disease are 50-50. Robinson predicts such statistics present a serious challenge for the health system.
He also cited autism as a cloud on the horizon for U.S. health care. The fact alone that many children with autism outlive their parents or caregivers creates a serious situation for future health systems. Lifelong care for an autistic child can easily reach millions of dollars.
Thirdly, Robinson cited the aging of America's baby boomers. Last year, the oldest of the baby boomers became eligible for Social Security. In just three more years, they will hit the Medicare system taxing that structure unlike any event since its inception in the 1960s.
The answer to these challenges according to the elder law expert is to have a plan - a mix of insurances, savings and knowledge. He urged his audience to seek out additional sources of aid such as veteran's benefits and area aging councils who, while not providing direct help, can point people in the right direction to help them cope with the issues that come with aging.
Return to Current Edition