In my quest to help elders get the care they need and still live at home, another possible solution is long-term care insurance. Let’s discuss the pros and cons of this approach.
First of all, long-term care insurance has become very expensive. That’s because many insurance companies suffered losses on policies written in...
“Live Well, Age Well” Education Series with Norwell Senior Center
Live Well, Age Well
Education Series with Norwell Council on Aging
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Education Series with Norwell Council on Aging
None of us can escape aging, but the choices we make throughout life can influence how well we live as we age. The Norwell Council on Aging is excited to begin the “Live Well, Age Well” initiative, offering a...
Are You Caring for Someone Who Wanders?
CMS (the agency that manages Medicare and Medicaid) recently put out this interesting FAQ piece on wandering. The piece is aimed at managers of day programs and assisted livings, but there are a lot of useful nuggets in here for people who are caring for loved ones still at home who tend...
Long-Term Care Insurance Tax Deductions
Thinking about long-term care insurance (LTCI)? Hesitant because it is expensive? Did you know that you might be able to deduct some of the premium on your taxes?
If you are an itemizer, then you can take deductions as follows (2013 figures):
Attained age in tax year
Limitation on premiums
Age 40 or...
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Another Good Reason to Buy Long-Term Care Insurance
I talk to a lot of my clients about buying long-term care insurance (LTCI). Many people come to my office asking about "nursing home planning" - how to make sure they don't use up all of their savings if they end up in a nursing home. And my response is always, "Your nursing home...
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How Do You Purchase the Right Long-Term Care Insurance Policy?
If you can afford the premiums, long-term care insurance (LTCI) is usually good investment in your future. The right policy will pay for at-home care, medical equipment, nursing home care, and maybe even some of the monthly fees at an assisted living. Actuarial tables demonstrate that in many cases, families that paid LTCI premiums...
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