Long Term In-home Care Options -

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Long Term In-home Care Options

Long Term In-home Care Options

Are you worried that you may lose all your life's earnings and nest egg due to the rising costs of in-home long term care? As you get older do you have the necessary finances to protect yourself from going broke while slightly incapacitated? Many seniors are worried about are worried about the costs of long-term health care.

Are you worried that if something happens to you, that you may run out of money and burn thru their reserves and all your nest egg. Even be forced to sell your paid for home to survive? The costs for long-term in home care are rising, just like the current costs in health care. The average nursing home stay is 2.5 to 5 years of care with a cost of $135.00 per day. At that rate it will not take log to burn thru piles of cash. This is a concern of seniors and rightfully so.

It is very important to have long-term care insurance in order to protect your assets and give you peace of mind. You need the assurance of quality care, choice and control over receipt of care.

As we get older we do not wish to burden our offspring to come take care of us as they have their own family obligations; so we will want to avoid dependence and it might be nice to receive some tax advantages too. Paying for Long-Term Care requires some strategic planning; either thru family pact to take care of you or long term care insurance. Nothing is not guaranteed and do not expect the government to foot the bill. You see medicare is great but this program may pay for skilled nursing facility care for a very short period of time ? but no longer than 100 days and only when you meet all the Medicare requirements for daily skilled care. If you live in California there is Medi-Cal, but this program, called Medicaid outside California, may pay for skilled, rehabilitation and custodial care that is not covered by Medicare, but only if you first "spend-down" assets to federal and state legal impoverishment level guidelines. Can you pay for your care thru personal or family assets without selling your home? Most people provide for long-term care expenses from personal or family income, assets and resources.

Your more strategic choice for Long-Term Care may involve having an insurance program. Specially designed programs to pay for long-term health care expenses are viable option. HIPAA defines Federal tax treatment of insurance policies that provide long-term care coverage. Policies that meet certain criteria are designated as "qualified long-term care insurance" and will receive certain tax incentives: the cost of coverage may be deductible and long term care benefits received will not be reported as taxable income. Please consult your tax advisor for information about your personal situation.

Play it safe and know your options regarding long-term health care and know protect your assets. Think on this.

"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs

In The News:

Elder Care Revolution Launches in Southwest Ohio
MarketWatch - Jul 18, 2008
Otterbein has a 95-year history in being a leader in elder care services. "Our goal is to be a catalyst for change throughout the country in the field of ...

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C-FAX 1070, Canada - Jul 18, 2008
THE PROVINCE IS FEELING THE CRUNCH OF THE LACK OF RESIDENTIAL CARE AIDS AND HOME SUPPORT WORKERS IN BC. THE PROVINCE HAS LAUNCHED A 160-THOUSAND DOLLAR ...

Letter that proves the sorry state of NHS care for elderly
Telegraph.co.uk, United Kingdom - 8 hours ago
The allegations of neglect come against a background of growing concern about the treatment of the sick and elderly in care homes and hospitals. ...

Solutions for elder-care issues are within reach
Lower Hudson Journal news, NY - Jul 17, 2008
Approximately 20 percent to 30 percent of recipients of long-term care are individuals with pre-existing physical disabilities. At a time when the "elderly ...

CTV.ca
Ontario ombud to probe nursing homes
CTV.ca, Canada - Jul 16, 2008
The people who gave their all to take care of their families. This "nanny state" is shameful,greedy,and to self absorbed. Subsidized elder care homes should ...
Caring for our seniors Burlington Post
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Wall Street Journal Blogs
A New Worry: Finding and Monitoring Your Elderly Parent’s Caretaker
Wall Street Journal Blogs, NY - Jul 17, 2008
But, it seems to be more difficult to do that for at-home elder care, because even the companies that provide such helpers are often unregulated and operate ...

Lake County faith
Chicago Daily Herald, IL - 22 hours ago
ElderCARE: ElderCARE's volunteer services have helped homebound, frail elders living in northern Lake County remain healthy and independent since 1998 when ...

Experiences of institutionalised children documented
ABC Online, Australia - 2 hours ago
"The prospect of maybe having to go into elder care is quite a frightening one when you've not had a good experiences in care," she said. ...

Shortage of care squeezes seniors
Baltimore Sun, United States - Jul 18, 2008
For the elderly and their caregivers, the shortage of geriatricians comes as no surprise ("The elder-care crunch," July 13). This shortage, along with the ...

U of C expands services to attract new employees
Calgary Herald, Canada - Jul 17, 2008
Elder care will also be extended to U of C staff as part of the partnership. It will include home support workers and registered nurses to assist seniors ...

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