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Long Term Care Insurance

The lifetime probability of becoming disabled in at least two activities of daily living is about 68% (AARP Beyond 50: A Report to the Nation on Independent Living and Disability, 2003). The national average for health care costs for just one year in a nursing home or with full-time home care is approximately $60,000. In some major cities, long term care can be as high as $75,000 to $100,000 annually. Many people who have built up a nest egg (a portion of money that's been set aside or invested for a specific future purpose) understand this risk, and they're wise not to ignore it. Long term care insurance can allow them to keep their financial independence, while protecting their nest egg from eroding in a relatively short period of time.

Medicare covers only 90 days of long-term care following a hospitalization, so the rest is up to responsible planning. The good news is that states such as Florida have taken steps to protect the assets of individuals who have taken the initiative to acquire some form of long term care insurance.

So, what does that mean for you? Medicaid requires individuals to spend down their assets to $2,000 in order to qualify for long term care (LTC) insurance. There are strict rules and penalties involved in this process, but if you're set up with a well-designed and properly-implemented LTC insurance plan, you may qualify for Medicaid assistance while still retaining a large amount of money from those personal assets.

We can help you design a policy that will qualify for the partnership program and that suits your individual needs. Contact us today for a complimentary consultation, and be sure to ask us how we can help you deduct the premiums from your taxable income.

Take a look at just a few of the
services that we have to offer:

  • Personal & Estate Planning
  • Specialty Athlete & Entertainment Coverage
  • Executive & Group Benefits
  • US Based Life Insurance for Foreigners
  • Life Insurance
  • Disability Insurance
  • Long Term Care Insurance
  • Health Insurance

These are just a few of the features we offer. For a more complete understanding of all of our services please contact us today.

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