The value of long-term care insurance (LTCI) is an ongoing conundrum. There’s no doubt we’re living longer. According to LongTermCare.gov, a site provided by the U.S. Department of Health and Human Services, at least 70 percent of people 65 and older will need long-term care services and support at some time in their lives.
Certain costs are adjusted yearly by the government and can affect premiums, deductibles and other cost-sharing aspects of Medicare. Even though each change doesn’t necessarily involve huge dollar amounts, they can add up and should be factored into your monthly health-care spending.
Adults with disabilities are living much longer than in the past, which means their aging parents must plan for the day when their dependent children outlive them.
When a loved one is experiencing cognitive decline, emotional and medical considerations often overshadow the financial planning that needs to happen. This is a potentially costly mistake.
Long-term care, often called custodial care, is a range of services and support to meet health or personal care needs over an extended period of time. This is non-medical care provided by non-licensed caregivers.
Turning 65 is a major milestone for many Americans, as it is the traditional age at which they start thinking seriously about retirement.
No one likes to think about needing long-term care. Yet the reality is that many people will, at some point in their life.
The Social Security Administration has announced a 1.6 percent increase in benefits in 2020, nearly half of last year’s change. The small rise has advocates
Sitting bedside with her husband after his stroke, Jane is talking with the discharge planner for the local hospital. After discussing the level of care John will need, Jane and the planner have decided that the nursing home connected with the hospital is the only viable option for John’s needs. Now Jane needs to visit the nursing home and figure out how she will pay for John’s care. [Read More]
Nursing homes are expensive. Whether you’re looking at long-term care insurance well in advance of needing care or you’re visiting with the nursing home admissions office to move your elderly mother into her room tomorrow, you know that the out-of-pocket costs for nursing home care can quickly reach five digits. Paying $60,000 per year is not only likely, but it’s almost guaranteed. In the face of numbers like this, it’s only natural to despair. But you don’t have to feel lost as you face down the looming nursing home crisis. [Read More]
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