Mike Padawer, president if INERTIA, joins "The Insurance Experts", a weekly video blog for planning stories & strategies for Long-Term Care planning. In this episode, Mike provides details about Annuity / LTC Hybrid solutions and the little-known funding strategy using the Pension Protection Act to turn gains in an old annuity into Tax-Free benefits to cover Long-Term Care expenses.
The solutions may not be available in all states..
Dealing with concerns about future health care costs and support services can be daunting. But by preparing for the years ahead today, you can focus on banking memories with those who matter most. Securian Financial's SecureCare may be an option to consider.....
Not available in Montana, California and New York.
Dementia left Terry Berry bankrupt.....The former elder care nurse, diagnosed at age 56 with frontotemporal dementia, lost her job, which ultimately led to her financial demise.
Morningstar presents a discussion on how and why pre-retirees should investigate long-term care insurance and HSAs. Explaining how these are ways to hedge against health-care cost inflation and longevity risk in retirement, says Fidelity's John Sweeney.
Suze shares her personal experience of expensive around the clock care she funds for her mother. Suze suggests implementing a Long-Term Care Plan in your late 50s, but only if you're sure you'll be able to afford it 20 years down the road.
Like most Americans, those who develop Alzheimer's disease have usually done very little to plan for their Long-Term Care. More than five million Americans now suffer from the disease and related dementias. Barring a breakthrough, the figure could triple by 2050.
When it comes to health care bills, millions of Americans may come up short and it will only get worse as you age. Business and financial expert Dan Geltrude joins CBSN to discuss how to plan ahead for health expenses.
Months after his 65th birthday, Joe Mollicone suffered a stroke that left him partially paralyzed and unable to speak. Joe's insurance starting paying and was enough to cover his home-care needs. Joe eventually reached his policy payout limit but continued to receive benefits because of his policy's shared-care rider allowing him to tap into his wife Theresa's benefits. Because of the couple's wise planning, Joe received the care he needed and most of their retirement savings were preserved.
As adult Americans we often wonder what the future hold for us. Yet with so many conflicting priorities to address today, it's easy to put off thinking about planning for our own future needs. The purpose of this video is to help raise awareness of this important issue and serves as a catalyst to start planning for your families future long-term care needs today.