FantasyLand, USA
August 11, 2008
Americans 45-plus think they know the costs of long-term care services and the ins and outs of long-term care insurance. But most of them are dead wrong.
A recent AARP survey examined the public’s perceptions of long-term care costs, including stays in nursing homes and assisted-living facilities as well as in-home visits by a skilled nurse. While six out of 10 Americans claim to be familiar with the costs, only 8 percent correctly estimated the national average cost of a month in a nursing home and just 23 percent knew the cost of assisted-living facilities.
What’s even more shocking is the New York Times discovery that most people believe that government Medicare will cover their care - Again dead wrong.
“It’s a train wreck waiting to happen,” predicts wheelchair-bound Clayborne Cotton of PrepSmart.com’s Long Term Care Insurance Buyer’s Advocate Alliance, “Sadly, without insurance folks can lose their life savings and burden their families with 24-hour care tasks. They just don’t know the serious risk they’re taking without coverage. Period. It’s such a shame…”
You can research your options through an objective expert at http://prepsmart.com/form/advisory.html
Health Matters: Anatomy of a Physician’s Bill
July 14, 2008
Anatomy of a Doctor’s Bill
Just how much of the $100 your physician charges for each 30 minutes goes into her pocket? After paying the bills, she gets less than half. This breakdown, according to Robert Lowes, senior editor at Medical Economics: [Read more]
Technorati Tags: Medical
*Free Podcast: Estate Planning Tips You Can Learn In Your Jammies!
July 6, 2007
Everything you’ve wanted to know about Estate Planning but were too afraid to ask. A New Jersey attorney explains the ins and outs of estate planning. Free podcast teaches all Americans, not just those in the Garden State. And you can listen to it in your favorite P.J.s and bunny slippers…
Prepare Now For “The Retirement Zone”
April 22, 2007
Retirement planning is an pretty emotional subject. Many people fear they are not saving enough. Others are confused about investment options or they’re unsure if their savings are being invested aggressively enough. Still others may be investing and saving wisely, but they are concerned that they may have started too late. But for everyone, there is a 10-year period of time, “the five years before and the five years after retirement” that is especially critical. This 10-year period has been dubbed as “The Retirement Zone”.
* Nest Egg Protection Needs Multi-Pronged Approach
March 11, 2007
Good for you! You’re funding your 401k. So what happens to it if you have a long term care emergency?
[Read more]
For Smart Financial Planning - “Know Thyself and Thy Situation”
March 9, 2007
“Know Thyself and Thy Situation” is a financial planning rule that applies to accounting for financial events that you absolutely know are going to happen and events that have a probability of happening. We’re talking about both expenses that can and should be predicted and about unpredictable emergencies and catastrophes. Especially, you must insure for your likelihood of long term care, for which there is a 50/50 chance, but only if you plan to live past age 65.
Know Thyself - The Cardinal Financial Panning Rule?
March 9, 2007
While we often apply the rule to evaluating risk tolerance, it works for all aspects of financial management. Raw numbers mean nothing if you have to go against your established behavior patterns to achieve them.
* Less than 200K in Assets?
March 4, 2007
Do you need to buy long term care insurance if you have $200,000 or less in savings? Many financial planners say no, but that answer may be wrong for you. See why…
Five Pillars for Financial Planning..
January 9, 2007
Five Pillars for Financial Planning:
Control Assets
Quality of Life
Freedom and Independence
Shield Assets and Estate
Lift Burdens on Family
Long Term Care Insurance: Who to Trust
January 9, 2007
A contract is a contract, and a long term care insurance company has the right and responsibility to follow it’s policy’s wording to the letter. Buyers BEWARE! Companies can “interpret” vague wording in their favor. So, it’s a very good idea to enlist the expertise of an insurance coverage contract lawyer in the very beginning, rather than waiting until being denied. Just know that lawyers are pricey, so be prepared to spend some extra cash for this last step.
