What’s the Plan?: Paying for Long-Term Care

How to Pay for Long-Term Care

  Although many seniors have been financially planning for their retirement for decades, very few are prepared for the high costs associated with long-term care. While Medicaid crisis planning can offer a solution to those individuals who find themselves in a financial crisis, this scenario can be avoided altogether with a bit of pre-planning. Pre-Planning: … Continued

Maximizing Your Benefits With the LTC Partnership Program

  When it comes to paying for long-term care, there are typically three primary payment sources. The applicant must either pay for their care out-of-pocket, obtain Long-Term Care Insurance (LTCI), or apply for Medicaid. Many clients who purchase LTCI often wonder what they can do to prevent a crisis scenario if they exhaust their policy … Continued

The Real Impact of the Deficit Reduction Act of 2005

Impact of DRA The primary impact of DRA relates to the fact that all gifts within the 60-month lookback period are pooled together, and the resulting figure is then divided by the applicable monthly divestment penalty divisor, creating a Medicaid ineligibility period for a set number of months.  For example, if during the 60-month lookback … Continued