Making Your Money Last

Smart Moves for Life’s Big Events: Easing Into Retirement

By Laura Cohn

Before you ditch the daily grind for good, do a complete benefits checkup.

Sure, go ahead and pick a date for your retirement party. But get a handle on how you intend to manage your benefits and cash flow once you stop working.

Buy long-term-care insurance. If you’re still working, see whether your employer offers it. You may be able to get a good deal — particularly now that some firms are offering policies with reduced premiums. Just make sure you understand the limits of your policy (see Long-Term Care You Can Afford). For outside help, speak to a local agent who works with a range of insurers. The American Association for Long-Term Care Insurance can give you a list of agents in your area.

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To Learn more about Long Term Care Insurance, visit www.californialongtermcare.com.

The Cost of Elderly Health Care in California

On average, the cost of elderly health care is $5,531 annually. Family members not only provide hands-on care but often dig into their own pockets to pay other expenses which include groceries, drugs and medicines, medical equipments such as wheelchairs, toilet seat risers and transportation. Many times family members have to miss work and lose out on their income to take care of elderly family members.

Many family members take loans, skip vacations and often ignore their own health. Government must start providing tax deductions and tax credits to family caregivers.

The expenditures incurred for elderly health care is increasing rapidly and reaching astronomical heights. Elders have many special needs when it comes to health care. One is often left frustrated when there are gaps in insurance coverage. Medicare programs offer only minimal assistance for serious health disorders.

There are some programs that cover senior citizens. It covers hospital expenses and doctor visits, even if you continue to work. All one needs to do is pay a premium every month. These programs are popular among a vast number of senior citizens.

One needs to apply for these programs before one reaches the age of 65. In case you don’t then one has to pay a high premium. One also has the option of enrolling for these programs after retirement.

The premium that one pays depends on your income and which company you will be purchasing coverage from. Senior citizens with low income are also eligible for the entire coverage under Medicare.

Prescription drugs which are used to treat a wide variety of diseases and illness are fully covered if one has a private insurance coverage. If you do not have private insurance, this could be matter of serious concern. Sometimes drug prices are simply not affordable, forcing the senior citizens to forgo other needs to pay for drugs.

Recent Medicare legislation has been a big disappointment for senior citizens, as drug coverage continues to be limited and fails to reduce the rising cost of drugs. Many seniors are forced to manage their medical plan on their own.

At times, the drug industry provides free drugs to the needy who are not covered under private insurance or any government program. Retail stores in the vicinity provide drugs at discounted rates. There are various medicine manufacturing companies that offer assistance to lower income senior citizens. One can seek out these discount programs if they have a financial need.

Katie Appleby is an accomplished niche website developer and author. To learn more about the cost of elderly health care, please visit Senior Health Today for current articles and discussions.

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Visit us at www.californialongtermcare.com if you have any questions or need more information regarding Long Term Care Insurance!

Disabilities Are Restricting More Retirees In California

I don’t exercise enough, like many of you. (Far too many, in fact: Of Americans 50 and older, 46 percent don’t exercise at all, according to a report in the journal Preventing Chronic Disease.) Sure, we realize that a sedentary lifestyle, especially when coupled with bad eating habits, adds extra pounds. And that being overweight can lead to disabling diseases such as cardiovascular problems, diabetes, osteoporosis and even cancer.

But for many years, Americans could take comfort in the fact that the costs of neglecting our health were out weighed by the benefits of improving medical technology.  Recently, the number of seniors developing disabling health problems has begun to rise.

As more individuals tragically lose their personal freedom to illness, more families will have to grapple with crushing long-term-care bills. So will the federal budget.

Already, about two-thirds of Medicaid spending and more than on-third of Medicare spending are associated with disability. If even more seniors get sick, those costs will soar.

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If you would like more information about Long Term Care Insurance, visit www.californialongtermcare.com.

Long-Term Care Insurance: You Have Options
By: Janet Arrowood

The latest offerings provide more coverage and the ability to pick and choose what types of coverage you’ll need.

There was a time in the not-too-distant past when choosing a long-term care insurance plan was simple–because there was only one option: a nursing-home-only plan modeled after Medicare LTC coverage. Today, you can choose your coverage and its terms from a plethora of options. But, with all of these choices, careful evaluation of LTC policies is more critical than ever.

To give you an idea of how dramatically LTC plans have evolved, let’s look at the some the older features.

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Are you looking forward to your retirement?  Have questions about insuring your future? Visit us for more information at www.californialongtermcare.com.

A New Long-Term Care Insurance Program
By Paula Span

The measure signed into law by President Obama this month contains a little-remarked insurance program designed to help Americans pay for long-term care.

I’ve read so little about the Class Act in recent weeks that when President Obama signed the health care bill yesterday, surrounded by a gaggle of happy Democrats, I had to call the National Council on Aging to reassure myself that yes, this often overlooked but potentially transformational program remained part of the package.

“It’s the law of the land as of this moment,” said the council’s president, James P. Firman, still sounding a bit dazed by the whole drama. “And there’s nothing in the reconciliation bill about it, no language in there at all. It’s the law, and it’s not going away.”

Wow.

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Are you thinking about Long Term Care Insurance? Please contact us for more information from a source you can trust! Visit  www.californialongtermcare.com or call 800-303-1527.