Weinstein & Randisi
Toll free:800-768-1780

Resize the Content Text

Why long-term care insurance can be so hard to get

When looking at the stats, it's clear that long-term care insurance can be incredibly hard to get for those with pre-existing conditions. In fact, it's been said that one out of every seven people who apply will be denied.

On one hand, it's hard to see why people are denied. While the insurance may be costly, shouldn't there be an option for everyone?

The problem -- for insurance companies, anyway -- is that many people with these conditions already know how much they plan to do and spend to fight their conditions, so only those who would benefit will try to get an insurance plan.

For example, if someone has a certain type of cancer, the average cost of treatment could be $8,000 each year. This would suggest that the insurance company could just sell the policy to everyone for $10,000 per year and still be safe, even when some people racked up higher costs.

However, though the average may be $8,000, experts have noted that the reality is that the average doesn't apply to those who buy coverage. Some people may decide not to use intensive treatment, meaning it will cost them under $8,000 per year. They won't buy a plan. The only ones who will are those who have decided they'll do all they can to fight the condition, knowing it'll cost more than the $10,000 they'll pay out. Therefore, nearly all of the people who actually purchase insurance will spend more than $10,000, even though it's over the average.

This is the reason why insurance companies will turn people down, rather than just offering expensive plans. Since it makes long-term care insurance hard to buy in New York if you have a condition already, you need to know all of your options up front and what legal steps to take to set yourself up for the future.

Source: Slate, "The Wisdom of the Ailing," Ray Fisman, accessed Feb. 02, 2016

No Comments

Leave a comment
Comment Information
  • I wanted to write to say how pleased my wife and I were at your professional handling of our estate planning and preparation of new wills. We were put at ease by your visit to our home for an interview and were pleased that you listened to us and captured the things that we felt were important.

    --Robert and Christine Simonson, Fairport
  • In order to finalize the documents we came to your office and were greeted in a very professional manner and we could not have asked for finer service. We left with copies of everything we needed and feel very confident our needs have been met. Thanks again. We will surely recommend you should the opportunity arise.

    — Christine and Robert Simonson, Fairport
  • I have been working with Weinstein & Randisi for about two years now. Elizabeth Randisi, through a very thorough process, has helped my wife and me determine what is really important in our lives. Thus, we were able to draft a living will that reflected our most important values regarding our estate.

    --David and Ajia Cherry, Fairport
  • I would like to give a testimony for Elizabeth Randisi, an estate attorney with Weinstein & Randisi. Her knowledge of wills and estate planning was clearly demonstrated in her presentation to us. Realizing our need for a will, my husband and I went to see Elizabeth.

    --Kathy and Gary Gray, Webster
  • Filing for Medicaid is never an easy or fun process. However, working with the Weinstein & Randisi firm made the process simple and streamlined. We were able to obtain all files and records regarding Medicaid enrollment within a few days using specially prepared checklists and verbiage recommended by our assigned paralegal.

    --Ajia and David Cherry, Fairport
Awarded Top 50 Estate Planning Blog
Email Us For a Response

How Can We Help You?

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Blog Feed


Weinstein & Randisi - estate planning

290 Linden Oaks, Ste. 200
Rochester, NY 14625

Toll Free: 800-768-1780
Phone: 585-310-1578
Rochester Law Office Map


Call us now for a free, 100% confidential consultation: