41% Of All Family Caregiver Hours Are For Dementia
The number of US adults age 65 or older who have dementia is expected to grow, raising concerns about the demands on family members and other unpaid caregivers. This study uses the 2011 National Health and Aging Trends Study and its companion National Study of Caregiving to examine the role of dementia in caregiving for […]
What Do You Need To Do, And When – When Long-Term Care Is Needed
This advice comes courtesy of a relative with a husband needing care. She told me that if he cannot recover enough to come home from the rehab facility, she will sell the house for a smaller place to live. This seems like a logical thought until one understand how Medicaid treats you when you must […]
Three Things You Must Know About Collecting On Your Long-Term Care Insurance
You’ve paid premiums all these years hoping you would never need care, but it’s getting so hard to get around that you need to cry uncle and arrange for some help. Now you hope the LTC insurance policy will do what you expect. Lets review what the triggers are for most LTC insurance policies, […]
My Mother Needs Long-Term Care Help And Has Little Money, Can We Protect Some Of It?
I am sorry to hear of your mother’s situation. There are many people caught in similar circumstances. Long-Term Care (LTC) is expensive and many people are unprepared when the need (often suddenly) arises. There are three ways to pay for LTC; money, Medicaid, and insurance. Let’s stat with Medicare. Medicare is health insurance. It will […]
New Long-Term Care Insurance Products That May Not Do What They Promise
Many agents are excited about the new LTC insurance products based on getting a percentage of a life insurance benefit to be used when LTC is needed. They mock the “use or lose it” line while most of their products do exactly that. First let’s look at the use it or lose it concern. Many […]
Don’t Get In Trouble With Small Gifts
According to gift tax rules, any person can gift up to $14,000 to another person each year without incurring any gift tax consequences. That means a husband and wife can each gift up to $14,000 to a child each year, and to the child’s spouse each year, effectively moving $56,000 per year to a couple […]
Having Difficulty Collecting On A Long-Term Care Insurance Policy?
Perhaps I can assist. Most policies that cover LTC are very similar in how one qualifies for benefits, either needing help with 2 activities of daily living, or having a cognitive impairment. Lets start with the activities of daily living (ADL’s) trigger. Typically the requirement is that you need help with two out of six; […]
The Big Thing Your Financial Planner Forgot
If you are earning 2% on your investments, you need a different investment adviser. If you are earning 4-5% with some degree of safety, your planner is doing fine for you. If your planner says he/she can get you 10% safely, you need to look elsewhere. If the planner is actually getting you 10% consistently, […]
Who Will Care For Single Adults Needing LTC?
THIS IS A REBLOG FROM THE HUFFINGTON POST. I HAVE ADDED 2 COMMENTS IN BOLD CAPITALS Studies indicate that people over the age of 65 years will need some form of long-term care help. Genworth said sixty-six percent would need extra care while The Inquiry said seven out of ten would need it for at […]
There Are Several Ways To Deal With Long Term Care Costs
First, the problem: HHS says that once we reach 65, we have a 70% chance of needing Long Term Care (LTC). One in seven will need care for more than 5 years. If you pay for such care, expect to spend more than $265,000 on it, according to the Office of the Assistant Secretary for […]
