The Internal Revenue Service (IRS) has announced the amount taxpayers can deduct from their 2021 income as a result of buying long-term care insurance. Premiums for "qualified" long-term care insurance policies (see explanation below) are tax deductible to the extent...
Continuing care retirement communities (CCRC) are gaining in popularity across the United States. Sometimes referred to as life plan communities, the goal is to provide a long-term care option for older residents. These residents prefer to live in the same community,...
Buying long-term care insurance is one way to protect against the high cost of long-term care. However, this type of insurance may not be for everyone, so consider all your options. Long-term care – care in a nursing home or at home -- may be paid for in four main...
Nursing home and long-term care costs continue to rise and it is difficult to qualify for Medicaid to pay for nursing home costs. Long-term care insurance can help cover expenses, but long term care insurance contracts are notoriously confusing. How do you figure out...
Long Term Care insurance policies come in two basic varieties – stand-along and hybrid. Learn the importance of the word “comprehensive” when it comes to selecting a policy.
The coronavirus pandemic has focused attention on nursing homes and the costs of long term care insurance. What are the realities to be considered when purchasing LTC insurance?
One of the realities of growing older is the increased likelihood of needing some form of living assistance. As we age, everyday activities such as toileting and bathing may become more difficult. The problem is compounded by neurological degeneration diseases like...
“Planning ahead for long-term care is important because there is a good chance you will need some long-term care services if you live beyond the age of 65,” cautions MyFederalRetirement.com. As Indiana elder attorneys, we certainly agree that long-term care planning...
“For aging baby boomers, planning for long-term-care costs becomes more pressing every day. But the insurance that helps cover those costs is surging in price, while the benefits are becoming skimpier,” Eleanor Laise comments in Kiplinger’s Retirement Report. It’s...
“To be or not to be? That is the question,” Shakespeare’s Hamlet mused. When it comes to Medicaid eligibility, however, there’s a whole ‘nuther question to ask: “Is it counted?” Medicaid is a joint federal-state government program which helps make medical coverage...
