RETIREMENT SOLUTIONS 4 LIFE INC.
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Long Term Care & Medicare
This in our opinion, is one of the most overlooked and avoided topics in retirement plans. Even if you were the smartest investor, saver, the most knowledgeable, failing to have the proper Long Term Care plans and the wrong, unfitted Medicare policy, can financially devastate a lifetime of savings in a matter of months, depending on the size of savings. Reports show, and can also be found in the Medicare Guide issued by the Social Security Administration, and even states factually, there is a 3 out of 4 chances someone will need this type of care at some point in their life. However, most, haven’t discussed or even thought of the possible scenarios that can happen, the cost, and what legal obligations there may be for a loved one’s family. The cost of this type of care continually increases, as life expectancies are also longer, therefore, making the probability of needing this care, even higher than the 75% it was in 2012. Many often think they are too young or too healthy. The best time to discuss this topic and create a plan is before it’s too late. How soon is too late? It’s a roll of the dice. Do not gamble with your health, or with your very
hard earned savings. Call or contact us at our office for a free-no obligation policy quote review. Some newer policies and products pass on to your heirs if you don’t use it. It’s better than auto insurance, in our opinion.
What?! You don't want to go to a facility? You and a million others! We've heard from numerous families, that Mom, made them promise that she won't go into a facility. The only way to guarantee that is with a policy!
Most are unfamilar with long term care. Often times, it is found the first time someone learns about long term care, is when they or a loved one is being released from a hospital, in which case, it's already too late to do anything about it. "I think it's because a person gets so far in life, only to find out there's another insurance policy, they're supposed to have, and they feel like, oh great! another insurance premium! I don't think it has to feel that way! I do feel, if we as a community and society continue to ignore that fact, the government will step in and regulate, like they have with healthcare. In my opinion, that won't be good. It's already in the Guide to Medicare book they publish." says Vicki, founder of Retirement Solutions 4 Life Inc.. Be proactive. Educate yourself. Let's discuss some facts.
The cost of care varies based on your geographic location, but here are some average costs of care, based in Florida, give or take a few dollars:
One of the biggest reasons we find people generally don't have a long term care policy, is because they do not want to go to a facility. The truth is, 82% of people receiving long term care are not in a facility, and only 18% receiving this type of care are living in a facility. Long term care policies cover in-home care, if the policy is designed properly. The other main reason, is because quotes previously received were too expensive. Retirement Solutions 4 Life Inc., is an independent agency, which allows us to offer all major insurance companies,
So, 75% of those over 65 years old are going to need long term care & only 29% correctly estimate the cost of care.
and has the freedom to tailor your policy within your budget. Did you know that the premiums paid for long term care can also be tax deductible? Please do not wait until it's too late, contact our office for a free quote and consultation. Its the best thing you can do for you and your family. It may be, the one thing, that guarantees you get to stay at home and out of a facility.
Not sure of the difference? Medicare advantage plans are more like HMOs. Medicare supplemental plans are more like a PPO plan. Well, how PPO plans used to be when they existed, prior to Obamacare. As an independent agency, we can offer an array of companies and plans. Having the right plan can mean, no copays, no deductibles, no network.
If you're turning 65, you are in what is considered open enrollment. Open enrollment means, you are guaranteed a policy, no health questions to answer. Medicare alone, may not be enough to cover all expenses. The chart below shows the most common types of care received, and how the expenses are usually covered. With the right plan, we can ensure 100% of all medicare approved expenses are covered. Call or contact our office for a free medicare consultation.
Medicare! The long awaited insurance plan you've waited for all your life, or not? There are many choices when it comes to Medicare. The single, most important choice when enrolling, is do you choose medicare advantage or medicare supplemental plan. We feel the medicare supplemental plans allow you to maintain control over your policy, the benefits you receive, your health care, and ultimately your health.