Long-term care insurance covers expensive nursing care needs. However, is it a good investment? Here’s what experts say about what you should take into account.
Legislation introduced last week in the House of Representatives would reform the tax code in an effort to make long-term care insurance more affordable and accessible for older adults.
Reaching the point where you need to consider residential options for your mother can be overwhelming. Not only is it emotionally fraught, there are also financial and legal considerations.
While the unpredictability of the future makes it difficult to plan ahead, becoming familiar with the options is important.
The costs of long-term care for older adults can be significant. Federal Medicare health insurance benefits do not cover most of these costs. Most people who incur costs for long-term care cover them with a combination of personal savings, long-term care insurance and Medicaid, among other sources.
For some, retirement means ‘where will we play today’s round of golf?’ For others, it could mean, ‘do I pay for my meds or my rent?’ In either case, a few concerns touch every retiree. The topic of long-term care is one of them, at least subconsciously. The question that causes more than a few sleepless nights is, ‘What happens when I can’t take care of myself anymore?’
The COVID-19 pandemic increased demand for and complexity of care, accelerating existing trends toward longer duration and more acute long-term care.
Discussing estate planning with your parents is a conversation that can be difficult to have. You might not want to think about the day they are no longer here, or even consider that they might experience a decline in health that severely limits their ability to think clearly or communicate with you.
Here’s what you need to consider, when looking to hire an elder law attorney.
Elder law attorneys can help with a long list of legal matters that seniors often face…
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