This article, published June 1, 2011 in the Wall Street Journal, provides essential information for people wishing to plan and help guarantee their financial independence during retirement. PDF File – Click here to pull up article, then print so you can read. Learn about new options available now to help Arizona residents address this longevity risk.
By Tom Russell
WHAT IS IT?
In February 2006, President Bush signed into law the Deficit Reduction Act of 2005 which allowed, among other things, the expansion of the Long Term Care Partnership Programs. These alliances between state governments and private long term care insurance companies encourage people to purchase private long term care insurance and simultaneously protect some of their own assets and savings against Medicaid spend-down requirements.
HOW DOES IT WORK FOR CONSUMERS? Read More »
A fabulous educational resource has been created by the State of Texas at their
long-term health care insurance website. Though designed for residents of Texas, the website can be valuable to anyone in the country planning for retirement.
Entitled “Own Your Own Future,” the website helps people understand their options to
help pay for ongoing chronic, long-term health care. Visit this important website to learn more.
The State of Arizona also has a similar long-term care partnership program. We can help you review this affordable and sensible program.
by Tom Russell
With long-term health care usually being a foremost concern on the mind’s of seniors, insurance companies have responded with different options: Read More »
by Tom Russell
Couples beginning second marriages today face many complex issues that require them to rethink financial plans. For example, it is not uncommon for one or both parties to have offspring from their first marriage. Accordingly, when they consider remarrying, these couples frequently agree upon the need for a prenuptial agreement that will protect them against some of the legal and financial hurdles they faced when dissolving their first marriage. Read More »
Seniors concerned about having no insurance for long-term care costs (since Medicare does not pay for these expenses) have a new option effective January 1, 2010. Read More »
by Tom Russell
Life-expectancy in the United States is now 80.4 years for women, and 75.2 years for men. Since a longer life increases the odds of needing long-term health care at some point, the choice to self-insure, or transfer the risk to an insurance company, is one of the most important financial decisions we’ll make.
The risk of needing care and filing a claim are high. For example, odds of your home catching fire are 1 in 1200, an automobile accident is 1 in 240; however, the chance of needing long-term care at some point in your life is 1 in 3.
Who should NOT own long-term care insurance? Read More »
