In an attempt to incentivize more aging Americans to purchase a private LTC insurance policy, the Deficit Reduction Act (DRA) of 2005 (DRA) included section 6021, which created the Qualified State Long-Term Care Partnership Program. Many older adults are not aware of this program, but they should be.
Faced with choosing between multiple types of refundable contracts a prospective resident of a CCRC (life plan community) may wonder which choice is best, financially, over the long run.
Here is a simple summary of a CCRC contract to help you understand the specifications for care and cost before signing on the dotted line.
It is commonly thought that it’s cheaper for seniors to stay in their home as long as possible versus moving to a community-based setting. Here are three reasons this may not always be the case.
Elder abuse is experienced by 1 out of every 10 seniors, age 60 and older, who live in a private home (their own or someone else’s). Here is how to recognize it and what to do about it.
As you are looking at the side-by-side costs of retirement communities, you must ensure you are making an apples-to-apples comparison about what services are and are not included in the pricing so that you may draw a fully informed conclusion about which senior living option is right for you.
How to tell if memory lapses are a sign of a dementia or Alzheimer’s, and the options for memory care treatment.
The total amount of long-term care that older adults require, on average, may be longer than you think when you take into consideration all levels of care.
While there are clear differences between for-profit and not-for-profit CCRCs it does not mean that one is necessarily better than the other.
Plan better for long-term care learning more about the odds of requiring assisted living and other long-term care services.
