Category Archives: Long-Term Care Insurance

Startling Facts About Long-Term Care

Medicare does not pay for long-term care services, as explained by the Social Security Administration: “Social Security pays retirement, disability, family and survivors benefits. Medicare, a separate program run by the Centers for Medicare & Medicaid Services, helps pay for inpatient hospital care, nursing care, doctors’ fees, drugs, and other medical services and supplies to people age 65 and older, as well as to people who have been receiving Social Security disability benefits for two years or more. Medicare does not pay for long-term care, so you may want to consider options for private insurance (emphasis added).”

Without proper planning, a serious accident or illness could rob you of your financial independence. Whether purchased for yourself, your spouse or for an aging parent, long-term care insurance can help protect assets accumulated over a lifetime from the ravages of long-term care costs.

Here’s Why You Should Consider Long-Term Care Insurance

Without long-term care insurance to help meet the cost of needed long-term care services, you run the risk of depleting a lifetime of savings. With long-term care insurance, you’re in a better financial position to make the choice of what long-term care services you receive and where you receive them.

In addition qualified long-term care insurance receives favorable income tax treatment. The benefits from qualified long-term care insurance, for the most part, are not taxable income to the recipient, up to a daily limit ($330 for 2014).

No One Wants to Think About Long-Term Care, But Here’s Why You Should

OK, it’s time to stop putting off the inevitable: thinking about who will take care of you when you can no longer take care of yourself. It’s Long-Term Care Insurance Awareness Month, making it the perfect “excuse” to explore something no one wants to think about, but that we all need to. Keep in mind […]

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