Nov

24

Your family will take care of you

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I recently received an update on some things going on in the long term care arena.  One of the larger companies that specializes in long term care is called Long Term Care Financial Partners.  This is one of the fastest growing businesses in the insurance industry.  In 2006 LTCFP decided to donate 2% of their [...]

Nov

18

Freedom and the Older Driver

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The focus on driver safety may now shift to older drivers since many states have now enacted graduated licensing laws for teenage drivers. The fastest growing age group of drivers are people 85 or older.
Concerns being raised are that older drivers have slower reaction times, get confused and on occasion can become disoriented while driving. [...]

Nov

14

Three viable alternatives to financing long term care

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When you get right down to it, after doing all the research on ways around financing long term care costs, there are really three choices available to you:

Retain the Risk.  This is a viable alternative, but one that should be made with caution.  Choosing this method of financing long term care can lead to significant [...]

Nov

12

IRS issues premium deductibility limits for 2009

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The IRS has released the premium deductibility amounts for long term care insurance for 2009.  They are as follows:
               Age                         Deductible Amount

Age 40 or less                                    $320
Ages 41 -50                                       $600
Ages 51 - 60                                      $1190
Ages 61 - 70                                      $3180
Ages 70 or older                                 $3980

As you can see the older you get the more incentive [...]

Nov

10

Connecticut may opt-in to reciprocity with other Partnership states

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Connecticut has until January 1, 2009 to opt-in to reciprocity agreements with other Long Term Care Partnership states.
Many states have created partnerships with insurance carriers that provide Medicaid Asset Protection to people who have long term care insurance.  This asset protection allows people to protect their assets dollar for dollar in the amount of long [...]

Nov

7

What if the financial crises we’re all in was yours alone?

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I was at a conference this past week here in Connecticut where another expert in long term care gave a presentation.  One of the points he made was to draw the similarity between the current financial crisis all of us face now with one that could occur to each of us personally as we age.
When [...]

Nov

3

The New Old Age: a platform for discussion about caregiving

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The New Old Age is a blog that appears online at the New York Times.  Jane Gross does a fine job highlighting the issues that face so many of today’s caregivers.  I think you’ll find strong opinions on the issues surrounding long term care, and that provides some great opportunities for discussion that go a long way to making the [...]