Archive

The Retirement Crisis Nobody Talks About: Long-term Care

If you become disabled, you may face huge bills for daily help. And, no, Medicare doesn’t cover it. When you try to gauge the biggest risks to your financial security in retirement, health care costs usually top the list. But there’s even bigger danger that doesn’t get as much attention: long-term care costs. By whatever measure... Read more…

US Cancer Survivors Face Significant Economic Burden

U.S. cancer survivors face significant economic burdens due to growing medical costs, missed work, and reduced productivity, according to a study by the Centers for Disease Control and Prevention in today’s Morbidity and Mortality Weekly Report. “Cancer survivors face physical, emotional, psychosocial, employment and financial challenges as a result of their cancer diagnosis and treatment,”... Read more…

Families Shoulder More Long-Term Care Responsibilities

With long-term care insurance (LTCi) executives reaffirming growth projections for the need for care, it’s worth asking: Who is paying for all this care? No one is suggesting financial advisors get into the long-term care health advisory business, but as so many retirees cite health care costs as their major factor in budgeting for retirement,... Read more »...
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How To Shop For Long-Term Care Insurance

One of the toughest money decisions Americans face as they age is whether to buy long-term care insurance. Many people don’t realize that Medicare usually doesn’t cover long-term care, yet lengthy assisted-living or nursing home stays can decimate even the best-laid retirement plan. Long-term care insurance is a complex product that requires a long-term commitment... Read more…

What’s New With Long-Term Care Insurance?

Think you know the ins and outs of long-term care insurance? Think again. Due to a number of factors, including decades of generous underwriting and the current, lingering low interest rate environment, the long-term care, or LTC, insurance industry finds itself in the midst of a historic contraction, with both demand and the playing field... Read more »
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How To Vet A Continuing Care Retirement Community

A septuagenarian Nevada couple researching continuing care retirement communities asked where they could find a comprehensive list of campuses and what factors they should consider in their search. It’s a big decision, selling your home and moving to a community where you can cycle through three life stages as needed: independent living, assisted living and skilled nursing.... Read more…

The Financial Consequences of a Long Life

Life expectancies continue to extend, the risks associated with longevity continue to garner attention from retirees, pre-retirees, and their children. The reality is that in addition to the longevity risk associated with outliving their money, Americans now also have to anticipate the loss of independence due to a major illness in their later years. Some... Read more…

‘Hybrid’ Long-Term-Care Policies

Buyers of long-term-care insurance are snapping up hybrid policies, which package long-term-care coverage with other forms of insurance. These policies allow heirs of consumers who die without using their long-term-care coverage to get at least a partial refund of their premiums, and are insulated from the premium increases that have given the insurance industry a... Read more…

New Medicare coverage of long-term care off to a rocky start

A physical therapist visits Robert Klaiber, 78, weekly to provide a special type of massage that helps alleviate his symptoms from Parkinson’s disease. Klaiber’s wife, Diane, was under the impression Medicare wouldn’t cover the therapy, which costs $500 or more a month. But earlier this month a neighbor noticed an announcement in a retirement newsletter.... Read more…