Long Term Care Insurance
Why Medicaid Long Term Care is a Bad Choice
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. 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...
“How to Deal with Long Term Care Financially” Seminar Scheduled for March 19
FREE LTC Seminar on March 19 @ 1:00 pm – 2:00 pm
When: Tuesday, March 19
Where: Allouez Village Hall, 1900 Libal Street
Topic: How to Deal with Long Term Care Financially
Presenter: Romeo Raabe, Owner of the Long Term Care Guy
What will you learn?
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
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?
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...Observations from a Recent Hospital Stay
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...
Beware insurance agents offering new “can’t lose” long term care insurance
Insurance companies are wooing insurance agents with something they are already familiar with – life insurance – with what looks like a neat extra benefit: it will also pay for long term care (LTC). It’s a two for one deal–it pays for LTC, and if that is not needed, your heirs get the life insurance payout. … Read more...
Long-Term Care: Tips for Planning and Paying
It’s not a pleasant scenario: your health has deteriorated to the point where your spouse can no longer take care of you on their own, and you need to consider long-term care. Or you had a fall that broke your hip, and surgery is out of the question.… Read more...