Long-Term Care Partnership Policies One example of good planning is purchasing long-term care insurance. The greatest risk to non-taxable estates (those under $12.9 million) is the cost of long-term care. With long-term care insurance, you can shift that risk to an insurance company. A partnership policy is a special long-term care insurance policy that protects […]
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For many years, Genworth has produced a Cost of Care Survey tracking the cost of long-term care in America. According to the survey, the projected national monthly median costs will be as follows: Homemaker Services: $5,417 Home Health Aide: $5,625 Adult Day Health Care: $1,847 Assisted Living Facility: $4,917 Nursing Home Semi-Private Room: $8,641 Nursing […]
Like all insurance, long-term care insurance policies are designed to cover risk. With these policies, the risk is that you will need custodial care such as in-home care, assisted living care or nursing home care. The best thing about these policies is that they create a pool of someone else’s money you can use to […]
As you plan for your future, there are steps you can take to make life easier for yourself and your loved ones. Here are a few to consider: Issue Yes No N/A Do you have a financial power of attorney? If so, is it broad enough to address issues such as retirement accounts, stocks, and […]
Video from Pixorize describing Medicare and Medicaid as two different healthcare programs with different functions and beneficiaries.
Many people believe Medicare will pay for their long-term care costs. That’s not true. Medicare will pay for UP TO 100 days if you had a qualifying hospital stay, if you are discharged to a nursing home for skilled therapy, and then only while you’re receiving skilled therapy. See Center for Medicare Advocacy, Medicare Skilled […]