Elder Care Information |
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Long Term In-home Care Options
Are you worried that you may lose all your life's earnings and nest egg due to the rising costs of in-home long term care? As you get older do you have the necessary finances to protect yourself from going broke while slightly incapacitated? Many seniors are worried about are worried about the costs of long-term health care. Are you worried that if something happens to you, that you may run out of money and burn thru their reserves and all your nest egg. Even be forced to sell your paid for home to survive? The costs for long-term in home care are rising, just like the current costs in health care. The average nursing home stay is 2.5 to 5 years of care with a cost of $135.00 per day. At that rate it will not take log to burn thru piles of cash. This is a concern of seniors and rightfully so. It is very important to have long-term care insurance in order to protect your assets and give you peace of mind. You need the assurance of quality care, choice and control over receipt of care. As we get older we do not wish to burden our offspring to come take care of us as they have their own family obligations; so we will want to avoid dependence and it might be nice to receive some tax advantages too. Paying for Long-Term Care requires some strategic planning; either thru family pact to take care of you or long term care insurance. Nothing is not guaranteed and do not expect the government to foot the bill. You see medicare is great but this program may pay for skilled nursing facility care for a very short period of time - but no longer than 100 days and only when you meet all the Medicare requirements for daily skilled care. If you live in California there is Medi-Cal, but this program, called Medicaid outside California, may pay for skilled, rehabilitation and custodial care that is not covered by Medicare, but only if you first "spend-down" assets to federal and state legal impoverishment level guidelines. Can you pay for your care thru personal or family assets without selling your home? Most people provide for long-term care expenses from personal or family income, assets and resources. Your more strategic choice for Long-Term Care may involve having an insurance program. Specially designed programs to pay for long-term health care expenses are viable option. HIPAA defines Federal tax treatment of insurance policies that provide long-term care coverage. Policies that meet certain criteria are designated as "qualified long-term care insurance" and will receive certain tax incentives: the cost of coverage may be deductible and long term care benefits received will not be reported as taxable income. Please consult your tax advisor for information about your personal situation. Play it safe and know your options regarding long-term health care and know protect your assets. Think on this. "Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs
MORE RESOURCES: Biden administration imposes first-ever staff minimum for nursing homes The Washington Post The pandemic exposed staff shortages at nursing homes. A new White House push aims for a remedy Yahoo News Canada Biden administration sets nursing home staffing minimums Medical Xpress 'Failure of government': Nunavut elder care needs to be brought home, federal minister says - CBC.ca Long-Term Care, Retirement Home and Elder Care Lodge Resources | HKPR District Health Unit Haliburton, Kawartha, Pine Ridge District Health Unit Winnipeg's home-style elder care cottages – Winnipeg Free Press Winnipeg Free Press MLAs still fighting for Elder care closer to home Nunavut News Whatever Happened to All Those Care Robots? The Atlantic With dementia rates projected to rise, northerners call for better elder care in Nunavut Nunatsiaq News MLA presses government on status of elder-care home work Nunatsiaq News Feds to require more staff in nursing homes. Most in St. Louis area don't meet the bar. St. Louis Post-Dispatch Elder care lodge gets $2.9M from feds The Brandon Sun Could a robot keep grandma company? UBC IDEA lab experiments with AI for elder care - Ubyssey Online Newsmaker Sunday: St. Paul Elder Services on dealing with dementia WeAreGreenBay.com A fire, two deaths and the business of elder care in India Al Jazeera English Creating 'centres of excellence' will help improve senior care in hospitals, says health minister CBC.ca Ontario Breaks Ground on Long-Term Care Home in First Nation Community Government of Ontario News Senior care organization group pulls out of managed care, leaving future uncertain News From The States The all-consuming stage of adulthood they never told you about: Looking after aging parents The Globe and Mail FPT Health Ministers’ Meeting Ends In Disappointment With No Immediate Action For Struggling Workers SEIU Healthcare Senior hospitalized with multiple infections suffered neglect in care home, children allege - CBC.ca CTV National News: Raising the alarm on elder care CTV News Barrie Changing demographics in nursing homes across N.Y. state Spectrum News Opinion: Protecting seniors in care an urgent matter for NDP Winnipeg Free Press Elderly Care Market To Reach USD 1,902.7 Billion By 2032 GlobeNewswire LGBTQIA+ seniors have limited choices for aged care. Julie Peters went searching for options ABC News Personal support worker facing charges after alleged elder abuse at care home in Vaughan: police CP24 Perley Health Foundation reaches $10M goal to transform elder care – Ottawa Business Journal Ottawa Business Journal Connecting Ontarians to The Tools They Need to Stay Healthy This Respiratory Illness Season | Ontario Newsroom Government of Ontario News Family of woman who died near Sandy memory care facility sues state, facility for $10 million Oregon Public Broadcasting As America ages, there are few doctors who specialize in seniors’ care The Washington Post Facing Financial Ruin as Costs Soar for Elder Care The New York Times Lawsuit Puts Fresh Focus on Eric Hovde's Comments About Older Voters The New York Times BC's long-term care homes are failing our seniors The Georgia Straight Hôpital Glengarry Memorial Hospital Embarks on Transformative Elderly Care with the Implementation of the Hospital ... Cornwall Seaway News The Elderhood Care Team: Bringing medical house-calls to elders - The Seeker Newsmagazine Cornwall The Seeker Seniors spend thousands on dental work, suffer in pain or wind up in ERs. Will Canada's plan help? CBC News VR can help seniors in nursing homes with mood, memory and loneliness The Washington Post Rock and Roll and Elder Care in “Goldie” The New Yorker Central Boston Elder Services celebrates 50 Years, sets a $400,000 fundraising campaign to meet needs | Dorchester ... Dorchester Reporter Mohawk elder-care home project breaks ground The Intelligencer Retirement and loneliness: 3 tips for seniors to combat sadness during their golden years - Fox News Ontario's response to COVID's long-term-care crisis lacks an 'easy fix,' says elder law lawyer Law Times Ontario Breaks Ground on Long-Term Care Home in Scarborough Government of Ontario News Jewish+Senior%C2%A0Life+acquires+home+care+services+agency+to+expand+in-home+care%C2%A0 Rochester Business Journal April Healthcare Highlight: While Nursing Homes Struggle to Meet Need, New Biden Rules Will Make Things Even ... Wisconsin Institute for Law & Liberty Facing financial ruin as costs soar for elder care The Seattle Times United Hebrew Earns Recognition For Its LGBTQ-Friendly Senior Care New Rochelle, NY Patch The only long-term care home in Fort St. John, B.C., is failing seniors, family members say - CBC.ca ‘Listen, speak, and change now’: Exposing our broken aged care system Toowoomba Chronicle Elderly care: How can countries cope with ageing populations? World Economic Forum |
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