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Romeo Raabe
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Long Term Care Insurance

Don’t get caught in this long term care trap! Many people are.

Don't get caught in this long term care trap! Many people are.

I am being approached by many people who purchased long-term care (LTC) insurance many years ago.  They bought the LTC insurance from their life insurance agent, their financial planner, or their home insurance agent – not a specialist in LTC. These agents knew life or home owners insurance, but often just “dabbled” in long term care sales. … Read more...

Why Can’t I Spend my Money on Fun?

Why Can't I Spend
 my Money on Fun?

A recent Wall Street Journal cartoon featured a gentleman visiting his financial planner.  In the cartoon, he asks the planner, “Why can’t I spend some of my money on fun now?”

Often, retired people are afraid to spend money on fun or travel because they fear the catastrophic costs they would face if one of them needs long term care (LTC).… Read more...

Why Medicaid Long Term Care is a Bad Choice

What Can I Do About Long Term Care

Many people don’t realize that, in addition to traditional health care, Medicaid actually pays for most long-term care (LTC) in the United States.  In fact, less than 40% of Medicaid dollars are used to pay for traditional health care.  The small portion of Medicaid recipients (just over 20%) whose long-term care services are paid for by Medicaid use over 60% of the Medicaid budget dollars.… Read more...

What Can I Do About Long Term Care?

Long term care is very expensive!

Long term care is very expensive. Few people are prepared for the cost when they determine they need care.  Fortunately, there are ways to deal with the bills even if you do not have much money.

Medicaid requires beneficiaries to spend all savings and other assets down to impoverishment before they will pay for care.… Read more...

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...

Happy Holidays – How is Grandma?

Happy Holidays! How is Grandma?

While your family was together at Thanksgiving, was there evidence that older family members are not taking care of themselves as well as they could be or used to?

Perhaps your loved one is not driving as much as before, or perhaps should not be driving at all.… 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...

Who is Going to Pay for Your Funeral?

Who is Going to Pay for Your Funeral?

Asking who is going to pay for your funeral might seem like a silly question–you probably have money in savings, a vehicle, a house, even life insurance.  There should be plenty of money to pay this bill, right?

The problem is, you are gone, so now who has access to your assets?

Read more...
The Long Term Care Guy