Long Term Care News, Information and Guidance

is long term care insurance worth it

Is Long Term Care Insurance Worth It? Explore the Pros and Cons

The Big Takeaways… Long Term Care Insurance is a great option for many people, but with uncertain prices and a qualification process, it’s important to do your research to find the right plan. It can be a challenge to determine exactly how much Long Term Care Insurance to purchase, but can be very worthwhile if…

9 Surprising and Dirty Secrets About Healthcare, Medicaid and Your Retirement

The recent nationwide debate about whether or not Medicaid should continue to receive funding should have had special resonance for people of retirement age. Here are 9 things you might not know about Medicaid and your chances of needing it in the future: 1. You Have a High Percentage Chance of Winding Up on Medicaid…

long term health costs

Long Term Health Care: 4 out of 5 Retirees Horribly Unaware of Actual Costs

They say that what you don’t know won’t kill you. However, if you are misinformed about the costs of long term health care in retirement, you might not be able to afford the kind of care you would like to have when fighting to stay alive. Most retirees have their heads in the clouds when…

Retirement Expert: Carol Marak About Assisted Living Options

Trusting your family to an assisted living facility can be a huge decision! How can you be sure that they’ll get the care they deserve? Take it from someone who has been there. Once upon a time, Carol Marak, Aging Advocate and Editor at SeniorCare.com, worked a full-time job while simultaneously caring for both of…

retirement planning

4 Easy Steps to Help You Plan for Long Term Care and a Better Retirement

Between taxes, inflation, job loss and longevity, you have enough to worry about to ensure your money will last after you leave the workforce. But you probably didn’t know that the biggest risk to manage during the Golden Years is planning for health care costs. Even if you’ve talked with a financial planner, you might…

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Retirement Planning: 5 Ways to Plan for Dementia, Alzheimer’s or a Long Term Care Need

Dementia.  Stroke.  Alzheimer’s disease. These are common reasons why you or a loved one might someday require long term care. Any of these are a scary diagnosis for a loved one, but Alzheimer’s it is the most common form of dementia and it affects nearly 5.3 million Americans, according to the Alzheimer’s Association. Unfortunately, Alzheimer’s…

long term care

What You Don’t Know About Aging WILL Kill You (and Make You Bankrupt As Well…)

Older Americans continue to be in the dark when it comes to the cost and risk of needing long-term care, new research shows. Long-term care is a range of services and support for your personal care needs, explains the official Medicare website. Medicare is the federal health insurance program for people who are 65 or…

long term care

Are You a Genius or a Fool to Avoid Long Term Care Insurance?

Buying a long-term care insurance policy can be a valuable investment for those who purchase it well in advance of the time they’ll need it, yet few Americans are taking advantage of this genius option.  But you are not necessarily a fool if you have not made this purchase. While some 70% of Americans will…

Assisted living

Expert Interview with Stephan Baldwin About assisted living

It’s estimated that there are over 40,000 assisted living communities in the U.S. today, says Stephan Baldwin, director of business development for Assisted Living Center, an online directory and resource for those researching living options for seniors. And while this means that families have more choices than ever for care for their loved ones, the…

How Much Does Care Cost in Your State? 7 Ways to Plan for Long Term Care Costs

You might not like the idea.  You might try to deny the idea.  You might convince yourself that you will be the lucky one to stay healthy till your last day… However, at least 70 percent of people over age 65 will require some form of long-term care services and support during their lives, new research shows. “Unfortunately,…

Don’t Let Dementia Lead to Financial Ruin in Retirement

The costs of Alzheimer’s disease and other forms of dementia can be staggering. And not just for the person suffering from the disease, but for those around him or her who serve as primary caregivers. Dementia can easily derail a family’s finances, and it can quickly drain retirement savings for those who have not prepared….

How to Get the Aid and Attendance Pension Benefit — A Valuable Benefit for Veterans and their Spouse’s Who Require Long Term Care: Expert Interview with Debbie Burak

After struggling to help her mother, the wife of a World War II veteran, receive benefits from the Veterans Administration, Debbie Burak founded VeteranAid.org to ensure that other families of veterans wouldn’t have to go through the same ordeal. The site is devoted to informing veterans and their families about the little-known “Aid and Attendance…

How to Pay for Long Term Care when Long Term Care Insurance Cost is Too High

Retirement should mean living comfortably on the savings you’ve spent a lifetime to build. But aging and unexpected health issues can derail your retirement aspirations and bleed savings accounts dry if you’re not prepared financially to face what life might throw at you. Will You Need Long Term Care? Even if you’re physically in good…

Paying for the Booming Costs of Alzheimer’s Care

The cost of Alzheimer’s Disease care has risen in overwhelming proportion, but the reality is it’s a cost that many Americans are facing now, and will continue to face in the future. Recent studies show that the cost of caring for Americans with Alzheimer’s and other related dementias has surpassed the cost of treatment for…

Say ‘Ahh’: Most Would Rather Visit the Dentist than Talk About Long Term Care Planning

Managing your finances shouldn’t be like pulling teeth. But it might as well be for the proportion of Americans who say they would rather go to the dentist than talk about their long term care planning and aging needs. Such was the response from one out of every four 1,203 adults surveyed by Fortune 500…

5 Creative Ways to Plan for and Fund Long Term Care

About 70% of of people who turn age 65 will need some type of long term care in their lifetime, according to the U.S. Department of Health and Human Services, but few are prepared to pay for that care. Despite that reality, most clients are “pretty much in denial” about long term care planning, says…

Reverse Mortgages and Long Term Care

Your decision to get a Reverse Mortgage should probably involve an analysis of your long term care plans. Research indicates that at least 70 percent of people over 65 will need long term care services at some point in their lives.  Many people secure a Reverse Mortgage in order to fund long term care services…

Ask Bud – Is Long Term Care insurance a good purchase?

This is a contribution from Bud Hebeler who runs Analyzenow.com Q:  I’ve been trying to decide whether to get long-term-care insurance.  I’m wondering if this is something that the insurer is likely to do much better than I will.  What do you think? A:  You should be right or otherwise insurance companies couldn’t make money.  However,…

Preparing for Long Term Care is a Necessity

Did you know that the average monthly base rate for nursing homes in the U.S.  is around $3,300? In California, the price is even higher averaging around $6,500 a month.  It has been estimated that half of the population in the Bay Area would not be able to afford more than three months of nursing…

Taking Care of Your Parents

In a recent study, it was found that the percentage of adults taking care of their elderly parents has tripled in the past 17 years.  For these caregivers, it means poorer health and lower wages than their counterparts who are not caring for an elderly parent.  On average, a caretaker that is 50 or older…

A Few Precious Hours

The New York Times, December 9th, 2010 Five years ago, a wintertime fall left Leena’s father, then in his early 60s, a quadriplegic. Members of a tightknit Indian-American family, Leena and her brother returned to the family’s Chicago-area home and for two years helped their mother care for their father. After the children returned to…

Do you need longevity insurance?

Reuters, November 22nd, 2010 We insure our homes against the risk of theft and fire, and our cars for the risk of an accident. But how about insuring ourselves for the risk of living too long? The odds are rising that more Americans will run out of money in old age. Average longevity is rising…

New Way To Pay For Elderly Care: ‘Reverse Mortgage’ On Life Insurance

The Los Angeles Times, November 16th, 2010 People typically pay for expensive nursing-home care or in-home care with money from long-term care insurance or cash received from a reverse mortgage, but The Hartford is having success selling a new alternative. It’s a rider on a permanent life insurance policy that allows the policyholder to draw…

MetLife Steps Back From Long-Term Care Market

The Wall Street Journal, November 12th, 2010 MetLife Inc. said it will halt sales of long-term-care insurance, a type of coverage that repeatedly has flummoxed insurers and forced some to pay significantly more in claims than they expected. MetLife is among the bigger sellers of the coverage, with about 600,000 policyholders, or about 8%, among…

Proving Innovation in Medicare

The New York Times, October 20th, 2010 The huge budget deficits that the country faces in coming decades are, above all, because of Medicare. The program will have to cover growing numbers of baby boomers while health costs are likely to keep going up. It won’t be possible to pay the bill by cutting other…