LONG TERM CARE PLANNING AND INSURANCE

Did you know that there are 3 Major Paradigm Shifts taking place in the United States today? 

First:  Our government will not be able to care for our elderly population in the future.  Think about the latest changes in Medicare and Social Security:

• Raising the age when you can receive full Social Security retirement benefits.

• Cutting back on nursing facility and related health care benefits.

• Increasing Medicare premiums and adding new drug benefits which must be paid for by Medicare recipients through “Part D” prescription plan premiums.

• Eliminating Medicaid “shelters” and increasing “look back” periods and penalties for those who apply for Medicaid funding for long term care.

Second:  People are living longer than ever before.  Our life expectancy in the last 50 years has increased so much that “normal” is now age 78 for men and age 86 for women.

 

We have to plan as though we will live to age 100 –  Many, many of us will!

Third:  We are transitioning from an Industrial Age to an Information-Technology-Information-Services Age and economy. Some trends include:

• A more mobile workforce.

• A more fluid job market with less security.

• Outsourcing jobs to foreign countries.

• The end of employer paid retirement plans in favor of defined contribution 401(k) plans. Employees paying more for their health insurance.

Wouldn’t it be helpful to get solid information on these issues and develop a real strategy to deal effectively with these shifts before you or your family members (parents, grandparents, and others) were faced with such a scenario?

Call or contact us and we will be happy to discuss this confidentially and without obligation.