A recent release from LTC Financial Partners noted that consumers should speak to their elderly relatives about their plans for long-term care, and the holidays may be the perfect opportunity to bring it up.

Health insurance is a big part of the conversation, as a consumer needs to determine if a government-sponsored plan is a good plan, the release said. In addition, for those not looking for a public plan, it may be a good idea to search for affordable health insurance quotes.

"Why not make every Thanksgiving, from here on, a little more hopeful - by attacking the long-term care threat now?" said Denise Gott, national sales manager and chairman of the board of LTC Financial Partners. "Consider all the thinking and discussing you do just to plan for the turkey dinner and getting together. Why not make time for a side conversation on long-term care - an issue vital to everyone's future happiness?"

It may be wise for a family to determine where the person will live when receiving long-term care, the release added. This is especially true if another family member needs to adjust their own housing situation.

With a congressional super committee unable to come to an agreement to cut Medicare costs, a standard 2 percent cut was put in place, but significant trimming could be looming in 2013, according to Reuters.

Overall, there is more than $700 billion that will be cut from the federal budget in the next 10 years, and more than $100 billion of it is attached to Medicare. However, some lawmakers had made their intended changes, cuts could have reached $700 billion.

The current default cut isn't worrying some industry professionals, though.

"Two percent is not a lot for Medicare to absorb," Joseph Antos of the conservative American Enterprise Institute, told the news source. "About all that happens is a few more providers, like doctors and hospitals, stop accepting new Medicare patients."

If no changes are on the horizon, healthcare programs sponsored by the government, as well as Social Security, will use up all revenue from taxes by 2047, the news source added.

Consumers may want to keep an eye on legislation, as it could have significant impacts on affordable health insurance rates.

A recent survey from the LIFE Foundation showed that many Americans are aware of the daunting costs attached to long-term care, despite low enrollments in these types of health insurance plans.

More than 70 percent of those surveyed think that between half and 80 percent of senior citizens will need some sort of long-term healthcare. Another 65 percent think that those who have to move to a nursing home will need to spend between $58,000 and $88,000. The figure is actually around $78,000 annually.

"Most of us would quickly get wiped out financially if we had to come up with $70,000 or $80,000 every year for home care, nursing home care or an assisted living facility," said Deb Newman, chair-elect of the LIFE Foundation. "Long-term care insurance helps ensure that you'll get the care you need, without wiping out your life's savings."

Consumers who are not in one of these plans may want to act early, as they are more valuable the earlier they are acquired. Looking for the lowest health insurance rates may help lessen the load that comes with long-term medical care.

A recent report from the National Council of Aging noted that many older Americans are being hurt by the financial situation they find themselves in due to high medicare costs.

According to Census information, nearly 16 percent of Americans over the age of 65 are classified as poor individuals, the report noted. In addition, Medicare patients typically pay three times more of their budget on healthcare fees than those who do not use the government-sponsored benefits program.

"We have tested solutions that can help - increased access to benefits, employment and training assistance, better self management of health issues - but we need more systemic change from our elected leaders to help make these increased poverty numbers head back in the other direction," said Sandra Nathan, senior vice president for Economic Security at NCOA.

Those consumers who are not able to find affordable health insurance quotes may want to go online and examine the options available. There may be an alternative plan that is attractive and fits the budget the person has set out.

A recent study from The US Oncology Network showed that per-patient-per-month cancer treatment for those with Medicare cost less when procedures are carried out in the doctor's office.

The Site of Service Cost Difference for Medicare Patients Receiving Chemotherapy study noted that PPPM enabled costs to be as much as $600 less than non-physician's office treatments. Copays were also, on average, 10 percent lower in these situations. Currently, the federal government is pondering a major Medicare cut that could jeopardize these types of treatments for those without private health insurance.

"When cancer care providers shift from the community to more urban settings, this often represents an access to care challenge for patients constituted by added travel costs and lodging requirements that many patients simply cannot afford, especially those patients residing in rural communities," said Nancy Davenport-Ennis, founder and chief executive officer of the National Patient Advocate Foundation.

It may be a good plan for those who are getting cancer treatment to make sure that their health insurance plan is sufficient. If not, shopping around for alternative coverage may not be a bad idea.