When you are a younger adult who has never had any trouble getting around the subject of long-term care can seem completely irrelevant. However, those who are currently residing in a nursing home or assisted living community probably felt the same way at some point in time. It is important to look ahead toward the eventualities of aging if you want to be comprehensively prepared for the future. Long-term care is actually going to be needed by about 70% of people in the United States … [Read more...] about How Will You Pay for Long-Term Care?
Medicaid
Access Our Estate Planning Report Library
People who have absorbed in-depth information about any particular subject are going to make better decisions than those who are not fully informed. This certainly extends into the realm of estate planning. On the most basic level people think about estate planning as the act of drawing up a last will that divides a pie of sorts among family members. In fact there is a bigger picture to consider. A last will may not be your best choice for transferring assets. If you … [Read more...] about Access Our Estate Planning Report Library
Combine These Figures to See a Profound Picture
Many people assume that it will be easy to live inexpensively during their twilight years. You may have already crossed everything off of your bucket list at that point in terms of costly travel and adventure. Medicare will be there to handle health care expenses, and you may expect to own your own home and vehicles outright. As a result you may anticipate limited expenses. In truth, adopting the above perspective is a trap of sorts. What about long-term care? Medicare … [Read more...] about Combine These Figures to See a Profound Picture
High Nursing Home Costs Make Other Options Attractive
Understanding all of the facts is key when you are making preparations for the future. People sometimes make uninformed assumptions that get them into trouble. One of them is the idea that Medicare is a cure-all once you qualify for the program. Those who are under this impression may not be aware of the fact that Medicare won't pay for long-term care. In the local Indianapolis area a daylong stay in a private room in a nursing home in 2012 averaged $237 according to the … [Read more...] about High Nursing Home Costs Make Other Options Attractive
Long-Term Planning: Longevity Is a Factor
There are multiple contingencies to consider when you are making preparations for the latter stages of your life. Financing your retirement years is of course going to be one of your concerns, but you also have to consider the eventualities that go along with entering into your twilight years. Your longevity is going to be one of the variables that is a significant factor. The population is rapidly aging, and senior citizens are making up a large percentage of the overall … [Read more...] about Long-Term Planning: Longevity Is a Factor
Medicaid Changes Announced
Medicaid is very important to many elders because most of the nursing home care that is provided in the United States is paid for by this joint federal/state program. Even if you were to enter into retirement with some reasonably significant savings they could be swallowed up by long-term care costs. In 2012 the average annual charge for a private room in a nursing home exceeded $90,000 throughout the United States. Senior citizens have a 40% chance of requiring nursing home care … [Read more...] about Medicaid Changes Announced
Discuss Living Assistance With Aging Parents
People are living longer lives these days, and the numbers of the "oldest old" are growing. This is the term that is used in the geriatric community to describe individuals who are at least 85 years of age. When you reach an advanced age it is likely that you are going to require living assistance. Some people reside in nursing homes or assisted living communities full-time, and others receive some level of in-home care. And of course, there are those who are incapacitated to … [Read more...] about Discuss Living Assistance With Aging Parents
Elder Law Report Explains Medicaid Planning
People who are serious about preparing for the future should certainly consider the matter of long-term care. There are some misconceptions out there about the Medicare program. Some individuals go forward living in the moment without actually learning all the details. Sometimes they find out some disturbing facts when it is too late to react. Medicare will not pay for an extended stay in a nursing home or an assisted living community. And if you are thinking that you probably … [Read more...] about Elder Law Report Explains Medicaid Planning
MetLife Releases 2012 Long-Term Care Survey Results
The results of the brand-new 2012 MetLife Mature Market Institute survey on the state of long-term care costs have been made public. Not surprisingly, the cost of residence in nursing homes and assisted living communities throughout the United States continues to rise. Before we share some of the statistics we would like to emphasize how important it is to plan ahead for these potential expenses. Medicare will not pay for an extended stay in a nursing home or assisted living … [Read more...] about MetLife Releases 2012 Long-Term Care Survey Results
Does Medicaid Count Your Home as an Asset?
Many people think of Medicaid as a program that provides very low income people with access to medical care, and this was the original intent of the program. However, the Kaiser Family Foundation states that seven out of every 10 seniors who are residing in nursing homes are using Medicaid to pay for their care. The truth is that not all of these individuals are poverty-stricken. Why can't they just write out a check if they would not describe themselves as being poor? The fact … [Read more...] about Does Medicaid Count Your Home as an Asset?
