Here’s What You Need to Know about Long-term Care Insurance

Episode description:  

As we  get older, many of us are going to need long-term care. In fact, someone turning age 65 today has almost a 70% chance of needing some type of long-term care service and support in their remaining years. And yet, many families have little idea how they’re going to pay for long-term care—which won’t be covered by Medicare and may cost as much as $1.2 million per person by the time they need these services. In today’s episode, long-term care experts Natalie Karp and Rona Loshak talk about the many facets of long-term care insurance, a critical option for a growing number of vulnerable seniors who are aging alone or not physically able to take care of their spouse—or simply unable to pay for the care they need, especially as they face potential cutbacks in Medicaid. Rona and Natalie, who are independent brokers and co-founding partners of Karp Loshak LTC Insurance Solutions, are dedicated to helping clients navigate the sometimes-dizzying array of long-term care insurance options. They’ve become a leading resource for consumers, professional advisers and the news media, and in today’s conversation they offer an incisive overview of traditional long term care insurance, as well as alternatives like hybrid life/long-term care plans and life insurance with long-term care benefits. Their goal is to guide families from “conversation to contract,” with expertise and independence. As adult children of widowed mothers, they represent the sandwich generation, those who found themselves caring for children and aging parents. And they saw first-hand the importance of planning—well before families are faced with a health crisis and few viable options. 

Guest descriptions:

Natalie Karp is a highly accredited, award-winning specialist in long term care insurance. A co-founding Partner of Karp Loshak LTC Insurance Solutions with Rona Loshak, Natalie is an independent broker who helps clients navigate long-term care insurance options—all carriers and all plan designs—and is a leading resource for consumers, professional advisors and the media. She is active in advancing awareness of the issues surrounding long term care, serving as an adjunct professor at the Tax & Accounting Institute at Long Island University—C.W. Post, and is an approved New York State Sponsor of Professional Continuing Education Credits for attorneys and CPAs. Before focusing on long-term care insurance, Natalie founded an investor relations consultancy that provides strategic advice to emerging growth companies, predominately in the medical and technology fields. She earned an MBA from the Fordham Gabelli School of Business.

Rona Loshak is a highly accredited, award-winning specialist in long term care insurance. A co-founding Partner of Karp Loshak LTC Insurance Solutions with Natalie Karp, Rona is an independent broker who helps clients navigate long-term care insurance options—all carriers and all plan designs—and is a leading resource for consumers, professional advisors and the media. She is active in advancing awareness of the issues surrounding long term care, serving as an adjunct professor at the Tax & Accounting Institute at Long Island University—C.W. Post, and is an approved New York State Sponsor of Professional Continuing Education Credits for attorneys and CPAs. Before focusing on long-term care insurance, Rona was an advertising manager for The New York Times, budgeting, planning and executing print and online strategies for hundreds of clients. She earned an MBA from New York University’s Stern School of Business.