Healthcare In Retirement 101:
Long-Term Care Planning vs. Medicare & Medicaid
If you ask most Americans they probably can't explain the difference between Medicare and Medicaid, much less how those two programs
differ from Long-Term Care planning.
However, relying on either of these government-run programs will most likely leave your clients and prospects without the level of care they need or expect. If you know the primary benefits of LTCi over Medicare and Medicaid, it can help you make the sale and help your clients make sure they’re protected now and into the future.
What Do Medicare and Medicaid Cover?
Both government programs are primarily designed to help people with "acute" medical or health problems, and not with day-to-day custodial care, or what you might be familiar with as Activities of Daily Living (ADLs). Medicare is the primary health insurance provider to Americans over age 65, but the program will only cover rehabilitative care following a hospital "admission", so this severely limits any potential LTC benefits. Medicaid, however, is a program for those with meager financial resources and income, and most people won’t qualify for these benefits. Planning becomes critical because, when the time comes for a client to need help with ADLs (bathing, dressing, toileting, transferring, eating, and continence), those services wouldn’t be covered by Medicare or Medicaid, and their LTC Plan would help them pay for that.
Help your clients make the right decisions about Healthcare In Retirement.
By educating them about LTC Planning they will better understand why Medicare and Medicaid are poor planning choices, and how and why Long-Term Care Planning.....
Help your clients understand that Healthcare In Retirement is
unavoidable and Long-Term Care must be part of the discussion......