How to Use Untaxed Dollars to Cover Long Term Care

You may have heard that Long Term Care insurance (LTCi) premiums can be tax deductible.  But (and there is always a but), there are restrictions.

LTCi premiums are fully deductible on your Wisconsin income taxes, regardless of whether you itemize taxes, how much or how little your taxes are, or whether you have enough other medical deductions.… Read more...

What’s it Really Like Paying for Long-Term Care

What’s it Really Like Paying for Long-Term Care?

As written by Michelle Singletary and published in the Washington Post on November 26, 2018

One of my favorite Spock quotes from the Star Trek television series is, “Live long and prosper.” Who doesn’t want a long life, right?

But what if the longevity means spending down your money for long-term care?… Read more...

Observations from a Recent Hospital Stay

Why are CNAs moving from (LTC) Long-Term Care Facilities to Hospitals?

Recently, I was an inpatient in a hospital after having surgery.  While there, I visited with a number of nurses and CNAs (certified nursing assistants) while they were caring for me.   Nearly every one of the CNAs had started their careers in a long-term care (LTC) facility.… Read more...

Go Broke without Long-Term Care Insurance

Don't Go Broke without Long-Term Care Insurance!

Bob and Tom are twin brothers.  They have done well in life and saved for retirement in an IRA.  They each have $1,000,000, they are both married, and are now age 80.  Oh, and Tom bought long-term care insurance at age 60, a benefit of $60/day for 10 years including 5% compound inflation on that benefit. 

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May is Disability Awareness Month – Does Long Term Care Keep You Up at Night?

May is Disability Awareness Month – Does Long Term Care Keep You Up at Night?

Becoming disabled from sickness or accident and unable to work is a significant problem for many. Once retired you might think this is no longer a concern.

But what if you became disabled enough to need assistance with bathing, or dressing, or moving about (arthritis)? … Read more...

Think You Are Too Young To Worry About LTC? Think Again!

I just read that the Centers For Disease Control and Prevention (CDC) says “The percentage of adults aged 45 to 64 years who reported needing help with activities of daily living such as eating, bathing, dressing, or getting around inside their residences has increased nearly 50% from 2000 to 2015. … Read more...

LTC Insurance is Too Expensive!

Lately I have seen clients shown proposals to purchase Long-Term Care insurance with premiums exceeding $10,000 a year for a couple.  This is ridiculously expensive for most couples in their fifties, and is probably because the insurance amounts are way too large to be appropriate.… Read more...