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

January 30, 2023
Hosted by Ron Roel

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Guest Information

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.

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Ron Roel

I’m a veteran journalist who spent a wide-ranging career covering business, politics and social issues, the last two decades focusing on the blend of diverse life skills I call successful aging.

I have written extensively on aging topics, spoken at conferences, radio and TV shows, and launched several entrepreneurial ventures, discovering along the way that the path to aging well also requires an unexpected entrepreneurial vision. I spent 20 years as a writer and editor at Long Island’s daily newspaper, Newsday, helping to found Act 2, a weekly section for 50-plus readers. I created Roelresources.com, a website offering practical advice and inspirational essays for people ages 40 and above. I have been a volunteer and consultant to AARP Long Island, writing articles, advocating for seniors, and developing action plans for the AARP Age-Friendly Communities initiative.

I am active in programs and organizations that support seniors, such as the National Aging In Place Council and the Senior Umbrella Network. I have developed a special expertise in family caregiving, as one of four brothers who took care of their mother for almost 25 years. I regularly collaborate with many professionals who provide services and support for older Americans, and I am completing a book for caregivers on Long Island, “The Caregiving Navigator/How to Plan, What to do, and Where to Turn When Caring for you Aging Loved Ones. And Yourself,” scheduled for publication in early 2021.

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Episode Directory

February 2023

January 2023

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