Do you have a funding crisis for your Long Term Care Plan to protect your Retirement Plan?

AMHERST, N.Y. - May 9, 2016 - PRLog -- Do you have a funding crisis for your   Long Term Care Plan to protect your  Retirement Plan?  by Les Robinson CLTC

Long term care costs can easily drain one's finances. According to the Harvard University Study in Compensation & Benefits Review, 72% of Americans become impoverished after just one year of nursing home care. Medicaid only covers nursing home bills after a loved one is spending down of assets to quality for coverage.

The Western New York average annual cost for a semi private room in a nursing home is $132,000, based on the 2014 figures. If someone needs 40 hours of in-home care for one year, the Western New York average cost is $56,717. And these average costs are rising every year by about 5 to 8%.

"When a person needs long-term care, an LTCI plan can minimize the financial and emotional impact of the situation.  The biggest two reason people buy Long Term Care insurance is to protect your retirement and to be a burden to your family members

There are several categories of people who end up in nursing homes with Medicaid picking up the tab.

First, there are folks who never had the educational opportunities or personal capabilities to become self-sufficient. In some cases, they may have lived in a subculture in which dependency is the norm.

Second, there are working folks who are barely getting by, living from one paycheck to the next. They work in establishments that do not pay wages high enough to buy long-term-care insurance or save for nursing home care.

Third, there are the able-bodied citizens who spend a lavish life on the high road, without care about future obligations or responsibilities. They are just improvident.

Fourth, there are the wealthy who make themselves poor in order to become eligible for Medicaid. This practice is politely called asset preservation.

Of course, asset preservation requires long-term planning because clients must make themselves poor at least five years before getting into the Medicaid bed at taxpayer expense.

By developing wealth strategies this will help protect all the working parts of your financial program.  One essential part of protecting your wealth is preventing a Long Term Care event from destroying your retirement, assets, income and independence.  When there is no long term care plan in place.   The devastation will effective your hard earn money and lifestyle.

By developing an alternative to avoiding the Spend-down program and the five year look back period. Medical events or accidents will cause a long term care event to occur.  If you had a long term care event yesterday, how much of your wealth would be subject to recovery?

As a Long Term Care Specialist it is my goal is to allow people to remain in the community, while preserving the emotional, physical and financial wellbeing of those who they love.  Put another way, the goal is place the family back to where they were, emotionally, physically and financially, as best as possible, prior to their long term  care event.  I work with individuals and families develop a long term care program to protect your wealth, independence, and family, freedom of choice and peace of mind.

Would you like to protect your wealth, family and legacy? Avoid the Spend-down Program, look back period and subject to recovery?  By developing a long term care solutions this will protect wealth, family, independence and legacy.

Learn how to integrate your Long Term Care Plan into protecting your retirement plan

To Schedule an appointment for Long Term Care Planning or Asset Protection, call office for information at 1-800-875-0140, office is 8810 Main Street Williamsville and website www.lesltc.com

Long Term Care insurance will purchase an LTCI policy can:

•Preserve savings and assets for family and friends;

•Help maintain one's financial independence from family and friends, often eliminating the need to borrow money for long-term care costs.

•Relieve family and friends of caregiving tasks, as paying for professional care becomes an affordable option.

•Protect your retirement

If you are looking for a quote or a Long Term Care Plan to protect your retirement

Go to www.lesltc.com to get a quote or a plan today

Or call 1-800-875-0140 ask for Les Robinson CLTC  Long Term Care Planner