Tuesday, February 24, 2015

The Money’s No Better in Retirement but The Hours Are!

Twenty years from now, you will be more disappointed by the things you didn’t do than the things you’ve done. Don’t waste time before you create a solid plan for retirement that can sustain your preferred lifestyle, help you achieve your goals, protect your assets and cover your future expenses like long term care. Your money might not be enough to pay for your long term care expenses so here’s a step-by-step guide that can help you plan for long-term care and thus can help you achieve a comfortable retirement: https://www.infolongtermcare.org/long-term-care_information/long-term-care-planning-basics/.

Monday, February 23, 2015

3 Myths on Senior Housing for Couples Debunked

The search for a senior care community for an aging parent or both parents is very similar in nature. Although, there are some challenges involved when searching for the most fitting senior living options for a couple, which prevent families from seeking options even if it is the most viable option. In most cases, the ability to live together can either make or break the decision of the couple whether to move to a senior living community or not. Some of these myths are the following:

Myth 1: There are only few options that meet the needs of both partners.

-          Senior living communities today offer more services that can meet the needs of both partners. As a matter of fact, there are assisted living facilities that also provide skilled nursing services, which allow couples to live together even if the spouse is in good health and still active.

Myth 2: Two people in an assisted living facility means double the price.

-          This is not necessarily true since the cost of care is based on the level of care and not on the number of people residing in one suite or apartment. Senior living communities vary in prices but affordable options are provided to couples who prefer to stay together.

Myth 3: Mom or Dad will receive better care from their spouses when they age in place than living in a senior care community.

-          This may lead to the decline in the health of the spouse which can affect his or her efficiency in providing care. Moving to a facility is more beneficial to couples.

Click here to read the full article.

Friday, February 20, 2015

Long Term Care Insurance and the Middle Class

Long term care cost is skyrocketing nowadays. As a matter of fact, a one-year stay in nursing home will cost you around $87,000. However, cost can be much higher depending on your location. 

It is often said that affluent people don’t need long term care insurance policy since they can afford to pay privately. It is also said that the poor don’t need it as well since they will be covered by Medicaid and other long term care programs. So that leaves the middle class as the best prospects for long-term care insurance. 

Insurance for long term care serves as protection against the high cost of long term care and can help you avoid becoming a burden to your loved ones. Annual premiums can go anywhere from $3,000 to $6,000 annually, which is still more affordable compared to paying out-of-the-pocket. 

The bottom line is this; long term care insurance can give you a peace of mind when the time comes that you will require any form of long-term care services. 

Thursday, February 19, 2015

An Investment in Knowledge Pays the Best Interest

Knowledge is power nowadays especially when it comes to long term care and other related issues. Why? According to the Department of Health and Human Services, 3 out of 4 of senior citizens will need any form of long term care such as nursing homes, assisted living facilities, adult day care and CCRCs.
Older adults will need long-term care services due to old age, illness, disability or injuries. Long term care is associated with the older population but younger people can still require this type of care due to chronic illnesses, injuries and disabilities. For your guidance, you can find more information on long term care here: http://www.infolongtermcare.org/long-term-care_information/.

Tuesday, February 17, 2015

Useful Tips When Buying Long Term Care Insurance

It is everyone’s dream to live a health, independent and active life without having to worry about the challenges and expenses that come along with aging.
However, most of us will require need long term care services at some point of our lives. Around 70% of Americans 65 and above will need long-term care. Without a well-developed plan, we’ll most likely exhaust our nest egg or rely on our family members when it’s time to receive long term care.
It’s possible to avoid the said scenarios by buying long term care insurance policy. Designing your own policy can be challenging but here are useful tips that can help you purchase a policy that will perfectly fit your future long term care needs:

1. Consult Reliable Resources
2. Shop Around, Ask Questions and Compare Prices
3. Check Policy Details, Coverage, and Limitations
4. Be Sure You are Dealing with Someone Who Will Help You
5. Read and Understand What You are Signing
6. Review the Company’s Financial Strength
7. Keep a List of Contact Information
8. Do Not Waste Your Policy