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For those who are considering Long Term Care Insurance

This article makes some interesting points. I have to tell you that it is much easier for me to help people when they have long-term care insurance. It gives them many more options for housing and home care. It also allows them to spend their money on the little extras that make life more complete, and not having to spend all their savings on medical care.  Many people think they will just spend down and then go on Medicaid. But, then they realize that it poverty isn’t all it’s cracked up to be. One woman asked me recently, “Can’t Medicaid pick up all the bills while I’m sick and then give me back my savings after I get better?”  You know the line,” if it sounds too good to be true, it usually is.”

The article doesn’t talk about the cuts that have been made recently in Medicare and Medicaid long-term care coverage. It also doesn’t talk about health care reforms that will cause many people using home health aides to lose their coverage.  Long Term Care insurance is still a very good investment.

http://online.wsj.com/article/SB10001424052702303425504577352031401783756.html

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June 11, 2012 - Posted by Aging Icon | Uncategorized