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How Insurance Deductibles Work

An insurance deductible is the amount you, the insured, pay before any claim is paid ...

The post How Insurance Deductibles Work first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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Enhancing Estate Planning through Heir Involvement

Estate planning goes beyond legal formalities; it’s an essential process that facilitates meaningful family dialogue ...

The post Enhancing Estate Planning through Heir Involvement first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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Social Security, Medicare, and HSAs

If your employer health plan is a health savings account (HSA) paired with a high-deductible ...

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Could Your Long Term Care Expenses Be in Excess of $250K?

July 16, 2019

Retirees today seem to be confused about how much to set aside for long term care. Fidelity Investments shows that the cost of paying for healthcare expenses alone could go as high as $285,000 for an average retired couple at age 65.

Those health care expenses, however, don’t include long-term care. Long term care refers to two different types of support; the first is services for someone who has severe cognitive impairments or requires ongoing supervision for safety reasons, and the second category includes services for someone who needs help with at least two activities of daily living.

Those activities of daily living or ADLs include toileting, bathing, transferring, eating, continence, and dressing. It’s estimated that over 15% of people approaching their older ages will have expenses for long term care in excess of $250,000.

Most people assume that Medicare will kick in to cover these costs or that they won’t need long term care. Both of these can be costly assumptions to make. You’re better off finding an experienced lawyer to help you understand what will and won’t cover your expenses so that you can approach the situation with clarity and make the right decision.

Have you already set aside money to help support you in your older ages and to pay for long term care? If not, it may be an appropriate time to discuss Medicaid planning with an experienced and knowledgeable estate planning lawyer.        


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Schedule your free Exploratory phone call

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can be of assistance.

Careers/Open Positions

Explore all available job
listings and become a part of an amazing team.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts
How Insurance Deductibles Work

An insurance deductible is the amount you, the insured, pay before any claim is paid ...

The post How Insurance Deductibles Work first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Enhancing Estate Planning through Heir Involvement

Estate planning goes beyond legal formalities; it’s an essential process that facilitates meaningful family dialogue ...

The post Enhancing Estate Planning through Heir Involvement first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Social Security, Medicare, and HSAs

If your employer health plan is a health savings account (HSA) paired with a high-deductible ...

The post Social Security, Medicare, and HSAs first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more