This is how many people look at retirement, Long-term Healthcare and estate planning. They look at all these things off at the distance, but don’t see the consequence until it is towering over them just about to crash. With one of the largest generations (Boomers) of retirees this nation has seen, their also a very unprepared generation when it comes to planning with long term healthcare. With many people living longer these days long-term healthcare has moved from the distance and has become a huge concern among most people looking to retire. Understanding that this is the biggest concerns for this generation there are three things that you must know when it comes to your long-term healthcare.
Know what you have?
When looking into long-term health care look at what you have when it comes to asset and income knowing this will help you understand what you might want to do in terms of planning for your Long-Term healthcare . Three of the most common ways that people fund long term health care is Medi-caid, self-Insure and Insurance plans. Understanding what you have will better help you when It comes to making a decision on how you will fund your long-term Healthcare .
The common misconception with long term Health care is that most people believe that is only for when you are about to die or you are terminally ill. The truth is that long term healthcare is for when one is still living but unable to do what is called activities of daily living (known as ADLs), which include the following: bathing, dressing , transferring , continence, eating and toileting. These things could have occurred because of a fall or just because of age. It does not mean that you are dying it means you might need help in order to do certain functions you no longer can do . This is important to understand because misunderstanding what long term care is could cost you in the future.
Not all Long-term Healthcare Insurance plans are the same
When Looking at a long term health care insurance beware of people out there that will say the words “basic” or “common”
Josh is frequently seen in FOX, ABC, The Chicago Chronicle, and CBS Money Watch. In his years as a California Insurance Agent, Joshua has seen the lifelong impact of retirement preparation – or lack of preparation—
Ca Ins Lic #0H14287