Do you know the fastest way for a middle-income Boomer or senior couple to become a lower-income Boomer or senior couple?
Simple. Just become ill...without long-term care insurance.
I see it every
day...people who've worked hard and saved some money, only to see it
wash away in a flood of medical bills as they age. And it breaks my
heart. Because, if you've managed to squirrel some money away, you could
probably have afforded long-term care.
Our life expectancies
are going up these days...along with the cost of healthcare, the
distance we're living from our children and families, and the financial
pressures on Medicare and Medicaid. The new Affordable Care Act, in
fact, stipulates $500 billion in Medicare cuts over the next decade!
Where
do you turn if you or your spouse gets ill? Home health care? Adult
day-care? Assisted-living? A nursing facility? Respite-care services,
which allow the caregiver to drop off the senior for a limited period?
Who's going to pay for it? And for how long?
And if you haven't
purchased long-term care before you or your spouse become ill...forget
about it. No one will insure you once you're sick!
If this happens to you,
you're going to be out of time, out of options, and - probably very
quickly - out of money. And if you've planned to leave something for
your heirs, there may be nothing left to leave.
I'm
not big on clichés. But I do believe that those who fail to plan, are
planning to fail. When it comes to healthcare expenses as you age, you
fail to plan at your own risk. And at the risk of those you love.
We can help.
At The Law Offices of
Alice Reiter Feld & Associates, we've been helping South Florida
families plan for healthcare costs for the past 34 years. And we've
helped them, as well, with comprehensive estate planning, wills, trusts,
powers of attorney, asset-protection plans, and assistance with
Medicaid or the VA.
It's expensive to live longer. But we can help you figure it out. We're just a phone call away.
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