Long-term care insurance coverage can help pay for home health care, nursing home costs, adult day care and other qualifying services. Benefits are paid tax-free after qualifying conditions are met.1 If you never need long-term care, your beneficiaries will receive your death benefit, tax-free. What does long-term care insurance cover? Long-term care insurance can help pay [...]
With longer life spans come extended healthcare needs — and significantly more dollars required to pay for them It’s more likely today that you’ll live longer than your grandparents did. The flip side is that you may spend far more on doctors’ bills and treatment for chronic illnesses than previous generations. With healthcare costs continuing [...]
Breaking down the enrollment periods and eligibility. Medicare enrollment is automatic for some. For those receiving Social Security benefits, the coverage starts on the first day of the month you turn 65. Your enrollment is also automatic when you are under 65, disabled, and receiving benefits from Social Security for 24 months. The [...]
Martin Barraud | Getty Images As rate hikes increase, older Americans weigh dropping policies. Eileen Cheng, 70, is holding on to the long term care insurance policy she purchased 15 years ago, even with an expected rate increase. "If you're buying it at 60, you may need it when you're almost 80," she [...]
Long-term care insurance (photo from Shutterstock) Long-term care planning is really hard to talk about. It can be frightening to imagine ourselves with diminished capacity and needing help from others. And since we find it challenging to discuss it, we often don’t plan for it. Very wealthy people can pay cash for upscale [...]
When friends and loved ones finally raise their glasses to bid you a long and healthy retirement, you do not want to be worrying about how your bills will get paid. That is why it is so important to participate in your company's retirement plan now. On the road to retirement, however, other financial challenges [...]
Many states are assisting their residents to buy LTC insurance. Protect Your Assets A helping hand for a pressing need. With the baby boom generation maturing, numerous studies and articles have pointed out the rising need for long term care. Some state governments have directly responded to it. Now, many states have created [...]
Create a pool of healthcare dollars that will grow in any market. Protect Your Assets How will you pay for long term care? The sad fact is that many people don’t know the answer to that question. But a solution is available. As baby boomers leave their careers behind, long term care insurance [...]
