Long Term Care Planning

The Use of Immediate Annuities in Medicaid Planning for Married Couples

Posted on: June 6th, 2017
Immediate annuities can be a useful tool to protect the spouse of a nursing home resident who applies for Medicaid....

Costs of Some New Long-Term Care Insurance Policies Rise in Latest Survey

Posted on: March 4th, 2017
A couple who are both age 60 and who purchase new long-term care insurance coverage can expect to pay between 6 and 9 percent more compared to a year ago according to the 2017 Long Term Care Insurance Price Index, an annual report from the American Association for Long-Term Care Insurance, an industry group....

Why a Life Insurance Claim May Be Denied

Posted on: February 15th, 2017
Life insurance can be an important financial tool for you and your family. For example, life insurance can help replace earnings that would cease upon your death. It can provide a legacy for your children or grandchildren, and can even be used to make a charitable gift after your death....

Nursing Home Care Costs Are Only Slightly Higher in 2016

Posted on: June 2nd, 2016
The median cost of a private nursing home room in the United States has increased slightly to $92,378 a year, up 1.24 percent from 2015, according to Genworth's 2016 Cost of Care survey, which the insurer conducts annually. ...

How Does the Medicaid Look-Back Period Work?

Posted on: April 5th, 2016
One area that causes a lot of confusion with regard to Medicaid is the look-back period. Medicaid, unlike Medicare, is a means-based program, which means that you are only eligible for it if you have very few assets. The government does not want you to transfer all your assets on Monday in order to qualify for Medicaid on Tuesday, so it has imposed a penalty on people who transfer assets without receiving fair value in return....

Hybrid Policies Allow You to Have Your Long-Term Care Insurance Cake and Eat It, Too

Posted on: April 4th, 2016
As long-term care insurance premiums rise and fewer companies offer policies, alternatives to traditional long-term care insurance policies are springing up. Previously, we wrote about annuity “doublers” that help pay for long-term care. Another increasingly popular hybrid product combines life insurance with long-term care coverage and offers buyers solutions to a number of problems that have kept people from buying traditional long-term care policies. ...
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