The President is proposing a $400 billion Medicaid makeover, one U.S. Representative is suggesting a national, catastrophic, long-term care insurance program, and one state has passed a long-term care payroll tax to begin in 2022. Seems like people are finally paying attention to the Silver Tsunami of aging Americans headed our way, and the lack of funds and care workers to provide for them all. Is your family prepared, and your retirement protected, if something were to happen to you or your spouse and you needed long-term care? Continue reading
As of tomorrow – if all goes according to plan – we have a new president of the United States of America. And as with all potential and incoming presidents, Joe Biden has made some remarks about his plans while in office. Whether you are hopeful or pessimistic, you should pay attention as to how these plans could affect your retirement and long-term care planning goals. Continue reading
The goal of a successful retirement is to be able to do what you want, when you want to. You want to have money for necessities like housing, food, and medical bills, while still being able to travel and spoil your grandchildren. Unfortunately, a long term care (LTC) event can often foil many of those plans. The secret to a successful retirement is to purchase a Partnership-qualified Long Term Care Insurance (LTCI) policy. Continue reading
Do you or your elderly loves ones have expired or unwanted prescription drugs taking up valuable bathroom and kitchen cabinet space? This can become a safety issue if small children or pets get into them, or if someone else takes them for recreational use. Luckily Saturday, April 27, 2019 from 10am to 2pm is National Prescription Drug Take-Back Day. This is the DEA’s event which provides an opportunity for Americans to prevent drug addiction and overdose deaths. Continue reading
Washington may soon be the first state to have a long-term care insurance (LTCI) program that is publicly funded. A measure, called the Long-Term Care Trust Act, is waiting to be approved by the Senate and would be funded through a payroll tax. If this passes Washingtonians who were vested and needed help with three activities of daily living such as eating, dressing and toileting, would be eligible for $36,500 of benefits, $100 a day. The program would begin in 2022. Continue reading
Caregiving can be a challenging role for anyone. It’s often filled with unexpected challenges, including physical and emotional turmoil leading to poor health.
When you become a primary caregiver to an aging loved one, their well-being becomes top priority. However, your health and vitality are just as important. Taking time for respite care will help you stay healthy and strengthen your abilities as a caregiver.
If you’re looking for respite care services and programs to give yourself a break, consider these options. Continue reading
Do you own an annuity or cash value life insurance policy? Are you concerned about protecting your assets from the risk of rising long-term care expenses? You may be in luck.
Section 1035, a little-known provision of the federal tax code, allows policyholders who meet certain requirements to trade in their existing contract or policy tax-free for long-term care insurance.
Learn more about the value of 1035 exchanges and how this provision may benefit you. Continue reading
At LTC Consumer, we’re proud of our country’s veterans. We believe this group of men and women deserve the best care and services for the sacrifice they gave to our country.
While not everyone can afford Long-Term Care Insurance, great programs are available for American veterans to make sure they are cared for and given the services they need. Veteran In Charge (VIC) is one of those programs. (LTC Consumer is not affiliated with the Veteran in Charge program.) Continue reading
Getting the government to pay for your long term care doesn’t sound like such a bad idea. The only problem is, many don’t realize the downside of what Medicaid offers individuals for long term care services. And many times, the care services are not up to their personal comfort and standards. Continue reading
Tax season is upon us and we are getting down to the wire! As you finish up your 2016 taxes, remember you may be eligible to participate in premium tax deductions in your state.
If you haven’t applied for and been approved for Long Term Care coverage, now is the time to get covered and enjoy the tax deductions you deserve in 2017.