Medicare & Medicaid, What’s The Difference?
I was asked this question at a seminar recently, and thought a good definition of each might be of value. Medicare is health insurance at age 65. To qualify you must have paid income and Social Security taxes for at least 40 quarters (10 years). Medicare pays for doctor and hospital care, fixing us when […]
A Roommate – For Life – Not Of Your Choosing
Assisted living facilities are typically very nice places. Many have pools or hot tubs, entertainment, exercise classes, and most now even feature a pub and free drinks (within limits). You have your own “apartment” sometimes with two bedrooms, a kitchenette, bathroom and no roommate. Until, You run out of ability to pay and need to […]
3/4 of Americans Are Concerned About an Economically Secure Retirement
“A new report finds that 76 percent of Americans are concerned about their ability to achieve a secure retirement, with that level of worry at 78 percent for Democrats and 76 percent for Republicans. Some 88 percent of Americans agree that the nation faces a retirement crisis, and the concern is high across party lines. […]
More Than Half of 2016 Long Term Care Insurance Claims Were For Home Care
The American Association for Long Term Care insurance (LTCi) just released information on 2016 claims on LTCi. More than half of all claims were for care at home, and 56% of claims ended at home. This means that more than half of all LTC received and paid for by LTC insurance were for care in […]
Have a Spouse in a LTC Facility? Know the Options You Still Have!
For many people, having a spouse require Long Term Care (LTC) in a facility is so expensive that it is unsustainable unless you purchased LTC insurance. Not everyone did or could, so what can you do? Medicaid is usually the answer as it will pay for LTC once you are completely impoverished. For a single […]
Aging In Place – What Is It? What Does It Cost?
Everyone wants to age in place. People want to stay in their own home, with perhaps some help coming in occasionally to mow the lawn, clean, do laundry, perhaps some help with shopping. cooking, bathing, dressing – when help is needed with those things. Of course we will be healthy, just slowing down a little. […]
Coming Political Changes Affecting Long Term Care
Yes changes are coming. The federal government is very interested in moving programs back to states to handle and Medicaid is one of those. The way this most likely would happen is to “block grant” Medicaid to the states. Give each state a fixed sum of money each year for Medicaid and let each state […]
What to Look for in LTC for 2017?
None of this is cast is stone, but some very good things are likely to happen regarding LTC in 2017! The new administration is likely to make changes that will affect LTC financing. First of all is the good news that the feds plan several interest rate increases next year. Insurance companies make their money […]
When Roles Reverse: Caring For Mom or Dad
Andrew sits in my office exhausted and emotionally spent. Until a year ago, his life was going well. In his late 40s, Andrew found his business thriving post-recession. He worked long hours, but it was paying off. He was proud of the home he and his wife Alison had worked hard to buy. His two […]
Responsible People Buy Long Term Care Insurance
Oh, they also keep their cars insured and their homes insured and perhaps even have a liability umbrella policy over these two as well. This only makes sense since an auto accident or a windstorm could bring significant unexpected costs. Many of us have not had an auto accident in years (knock on wood) and […]
