Long-Term Care (Page 2 of 3)

Long-Term Care Insurance, with Jim Koewler

Elder Law and special needs attorney Jim Koewler talks to Answers for Elders about long-term care insurance. When should you buy and what do you need to look for in an insurance company?

4 Long-Term Care Insurance Myths Keeping Retirees Confused About Their Options

Let’s discuss a few of the myths surrounding long-term care insurance that are keeping America confused!

The Shocking Truth About Medicaid and Long-Term Care All 55+ Adults Should Know

Did you know that your state can recover certain expenses paid by Medicaid benefits for adults over 55 who received long-term care? Toni King explains.

shocked 55+ woman sitting in front of an open computer

How Can I Get Help Paying For Long-Term Care at Home For My Elderly Parents?

Medicare expert and author, Toni King explains how Medicare can help pay for in-home health care.

Could a Long-Term Illness Be Your Largest Retirement Expense?

Depending on the level of assistance that you need, there are some inexpensive care options and ways to protect yourself from excessive long-term care costs. Here are a few ways to find affordable long-term care.

long term care coverage umbrella and stick person

Why Doesn’t Medicare Pay for Long-Term Care?

Medicare expert and writer Toni King explains why Medicare doesn’t pay for long-term care and offers her expertise.

Understanding the Need for Long-Term Care Insurance

Extended care whether received at home or in a medical setting is expensive, which is why many people choose to prepare by purchasing long-term care insurance.

Aide helping woman in long-term care facility stand up with walker

Funding Options for Long-Term Care with Daphne Davis

Funding long-term care is a huge topic that stymies people. Daphne Davis at Pinnacle Senior Placements says one option that’s overlooked is Aid and Attendance, a benefit paid by Veterans Affairs to veterans and spouses. Qualifications include certain finances and having two ADLs that you need help with. It could provide $1,100 to $1,700 per month. It can take four to six months to get your first check. Sometimes it can help keep parents in their homes. Other options include Medicaid and Long-term Care Insurance. It’s changed a lot recently; for people considering it, you might consider including an inflationary clause rider.

How to Fund Long-Term Care, with Daphne Davis

Generally, until you cross into this world of needing to find options for care and housing for elders, it’s not something you think about, or it’s on the back burner. Daphne Davis at Pinnacle Senior Placements has been doing this job for 18 years, and she sees that finances can always be worked out. She wants to give everyone a sense of hope about it. Don’t be afraid to talk about finances. Be straightforward with your advisor so you get good, objective information. It might be on a private pay basis, in which the estate of your loved ones can pay for their care and housing, ideally until the end of life, but rarely does that happen these days. Cost of care is very high, everyone gets sticker shock. Don’t let it stop you. Forty-five percent of seniors that are in some level of care are on Medicaid. Have a plan that allows you to have at least some months of private pay before you use insurance so you have more options.