Medicare Won’t Pay for Long-Term Care. Do You Have a Plan? When we think about the future, retirement, travel, recreation, and time with family are usually top of mind. What’s often overlooked is planning for a time when some level of care or assistance may be needed.
★ Medicare DOES NOT pay for long-term care (LTC). Long-term care includes services for individuals who are physically or mentally unable to perform at least two of the six basic activities of daily living - bathing, dressing, eating, toileting, transferring, or continence. These services may be provided AT HOME, in assisted living, or in a nursing facility.
★ Traditional long-term care insurance works much like auto or homeowners insurance: You pay premiums, and you may or may not ever use the coverage. If you don’t, the insurance company keeps ALL the premiums.
★ An alternative is asset-based long-term care planning. This approach offers greater
flexibility and control. Care can often be provided at home for as long as possible, based on a simple certification from your physician. In many cases, benefits are available with minimal or no underwriting - even if you’ve been DECLINED in the past. Existing assets may be repositioned into more tax-advantaged strategies, and planning options are available for both individuals and couples. One of the greatest advantages is ownership. The funds remain yours. If care is never needed, the assets grow on a guaranteed basis and pass to your beneficiaries. Call, text, or email for a complimentary review of your options.
Rick Sechler, CFP ®
INDEPENDANT BROKER AND FIDUCIARY
I AM HERE TO HELP 321-355-8899 Visit www.MedicareBrokers.info
or email rtscfp@gmail.com