Long Term Care (LTC) Articles
The Hidden Cost of Caregiving
As a long-term care insurance broker, I see firsthand how caregiving for aging parents disproportionately impacts women. A recent study by New York Life Investments found that over two-thirds of women investors say their careers have been affected by caregiving responsibilities. These impacts include reduced hours, lost income, and missed opportunities—all quietly absorbed out of love and duty. But it doesn’t have to be this way. Planning for the future with long-term care insurance isn’t just about protecting your own comfort and dignity as you age—it’s about creating a future
The Unsung Heroes of Home Care: Recognizing the Vital Role of Family Caregivers
When we think of home care, our minds often drift to professional nurses, therapists, and aides who provide essential services to our loved ones. While their contributions are invaluable, there’s another group of caregivers who often go unnoticed: family members. The Value They Bring Family caregivers offer more than just assistance with daily tasks; they provide emotional support, ensure continuity of care, and often serve as advocates for their loved ones. Their intimate knowledge of the care that recipients need helps make the services that professionals provide even more personalized.
Partnering with Financial Advisors to Simplify Long-Term Care Planning
As a financial advisor, your clients trust you to help them prepare for every stage of life—including the possibility of needing long-term care. But diving deep into LTC insurance options, benefit structures, and policy design isn’t always practical for you. That’s where I come in. As a licensed long-term care insurance broker, I serve as an expert partner to help your clients prepare for care needs—without adding more to your plate. Here’s how I support your process and strengthen your client relationships: What I Help Your Clients Navigate: How long
I QUIT MY JOB…
Here’s a post I recently saw on Facebook: I quit my job to care full-time for my parents for 15 years. It was extremely hard. Imagine the personal and financial toll this took on the poster. It must have been a difficult decision, despite how rewarding it may have been. Then, consider that we buy homeowners insurance to help us with storm damage, and auto insurance to help with the expenses related to accidents. But, we wear out our spouse, children, friends, or family members caring for us because we
Looming Crisis in Nursing Home Care
Rural and small market areas continue to experience growing “nursing home deserts,” an increasing crisis for local officials and beneficiaries facing access issues. The problem is two-fold. The closures stem from a mix of staffing shortages and lackluster Medicaid reimbursement, with the latter causing the former. Too many people think that Long-Term Care is free from the government, and it is once you have spent everything you own down to under $2,000 and cashed in your life insurance (requirements for married persons differ slightly). Then they find the “no vacancy”
Family Care Givers are Struggling
According to an article published on The Street, Family caregivers are struggling and feel undervalued. It reports on a study conducted in September 2023 by Wakefield Research and sponsored by Otuska, a pharmaceutical company. It outlines the toll that caretaking can take on family members. To read the article, click here. Have you thought about how you will arrange for assistance when you need it? Contact Romeo Raabe, the Long-Term Care Guy to discuss alternatives. There are solutions for almost every situation. Call 920-362-7663 or email [email protected].
Will you be in the news?
Many of you have read about or have seen news stories of seniors being evicted from a long-term care facility. It is a tragedy that some people spend down their savings paying for care at the end of life. Medicaid (government welfare) can help these folks, but it pays the facility far less than the cost to care for them. You can’t lose money on every customer and make up for it in volume! Smart people buy insurance that pays for this care. Why not insure for end-of-life nursing care,
Americans are focused on the wrong retirement risks
A study from the Center for Retirement Research at Boston College found that Americans cite market volatility as the top retirement risk, while longevity and health care costs actually present bigger risks. The study concluded that Americans need more education about retirement risks, as well as a source of secure income and long-term care planning. To view the article, click on the link below and then on “take me to the story”. Research: Americans focused on wrong retirement risks Has your planner addressed the risk of spending an extra $50,000
How to Pave a Smooth Path for Marriage in Your Golden Years
This article is posted with the permission of the author, Lydia Chan. After her mother was diagnosed with Alzheimer’s, Ms. Chan struggled to balance the responsibilities of caregiving and her own life. She founded AlzheimersCaregiver.net as an online resource for fellow caregivers and seniors. In her spare time, Lydia writes articles about a range of caregiving topics. There is one additional point that I would add to this article: if one person in the new marriage needs care, the other spouse’s assets must go to pay for that care. Many people
