Long Term In-home Care Options - Answering Service Resources

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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:

Spot audits of elder care urged
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"Providers get time and they (audits) are very much around the documentation rather than delivery of care." Auditors needed to speak to patients and staff ...

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With an aging population, there is an increased demand for elder-care workers. In British Columbia, more than 1500 qualified graduates are needed ...

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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 ...

Elder-care crisis must be solved
Lower Hudson Journal news, NY - Jul 19, 2008
How many more tragedies have to happen before we act to correct the problem of elder care? Most of us in our later years cannot afford the exorbitant cost ...

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Woburn Advocate, MA - 10 hours ago
Located in Burlington, Minuteman provides innovative and high quality solutions to eldercare issues for residents in: Acton, Arlington, Bedford, Boxborough, ...

MediaPost Publications
AOL Health Adds Content Partners
MediaPost Publications, New York - Jul 21, 2008
by Mark Walsh, Monday, Jul 21, 2008 7:00 AM ET Expanding its editorial scope, AOL Health has partnered with a trio of health sites to add elder care ...
AOL Expands Health Site With New Content Partnerships eBrandz
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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 ...

Community Notes (July 24)
Dover-Sherborn Press, MA - 20 hours ago
Caregiver Homes is a division of Seniorlink (a Boston-based elder-care services company) and has demonstrated a successful track record of home based ...

Partnership Allows Magnolia Manor to Provide Cutting Edge Services
PR.com (press release), NY - Jul 20, 2008
With over fifteen years experience, Elder Care Pharmacy specializes in pharmacy needs for nursing centers and is considered an expert in the industry. ...

elder care - Google News

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