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Long Term Care Planning


How many of you would answer HEALTH as your first priority?  And how do we protect our health?  We get health insurance.  When we turn 65 or become disabled the government offers us Heath insurance in the form of Medicare.  Medicare is considered short term insurance in that it only covers up to 100 days in a skilled nursing facility and some drop- in home care for a period of time.  The government does have a Long term care option in the form of Medicaid or in California it’s MediCal.  But you must have only $2000 in assests to qualify.

Let’s continue this discussion on Protecting What you love, with health being your first priority, it is important to talk about LTC planning. Let me ask you all a question – How many of you have had to care for a loved one or know someone who has had to care for a loved one?  This discussion is an important one because we want to protect our loved ones from not only the financial burden but the physical and emotional toil it will take on them.

Most people have a difficult time envisioning themselves needing hands-on assistance with basic living activities, like bathing, getting dressed and eating.  So they avoid thinking about it altogether. The fact is that 70% of people who reach 65 will require long-term care services at some point in their lives.  The bigger unknown and the biggest risk to you and your family is how long will you need this care.  This is impossible to predict.  Some people may only need a few months of care, others a few years and those with dementia or Alzheimer’s disease may require many years of care.

As you take into account what the cost of care is today and know that it is only going up each year you may find that the risk is simply to big to ignore.  This is why it so important to take a look at your own Long Term Care Plan.  Who will take care of you, what assets will you use and where do you want to be taken care of?  These are all questions you need to take the time to answer.  Please feel free to always call us with any questions you have regarding Long Term Care.    Cindy Pollack , Family First Insurance Solutions:  (877)797-6066

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