It is very important to understand the difference between Medicaid and Long-Term Care insurance (LTCi) if you’re planning for long term care. Otherwise, you may fail to invest in the coverage you really desire or need, so let’s look at some ways in which these health plans differ, and which one is better for you in the long term.

What’s the Difference between Medicaid and Medicare?

The Medicaid health program is jointly sponsored by federal and state governments and aims to help low-income individuals and families pay for medical and…

LTC, or Long term care insurance is an integral part of any retirement plan. Unfortunately, many people fail to factor in LTC coverage when planning for their retirement. By neglecting to consider the need for senior care when preparing a retirement plan, families are often left facing the need for extended care without having the proper knowledge or resources to handle it. There is a common tendency to associate long-term managed health care with nursing homes, whether in old age or as a result of illness/injury while still young. The…

Contrary to popular belief, one of the biggest benefits of LTCi, or long-term care insurance, is empowering oneself to be able to receive care at home. According to studies conducted by the American Association for Long-Term Care Insurance, almost 8 million people receive care at home, as opposed to less than 2 million in nursing homes.

LTCi and Home Care Decoded

Everyone would like to live in a safe, comfortable and familiar environment, but sometimes (due to illnesses, injuries or simply old age), living in our own home and…

An effective savings strategy for the future is crucial, and planning for long term care is a good place to start. Statistics show that 70% of people will face the need for long term care services at some time in their lives, especially with life expectancy on the rise. Inflation, however, is rising too.

Today, you could pay over $150,000 for one year in a semi-private nursing home, and these costs have risen by almost 20% in the last 5 years!

Long Term…

Purchasing insurance with the intent to look out for your future self is without a doubt one of the most important investments you can make. The best way to go about it is to find a trustworthy financial advisor, one who can help you narrow down various insurance companies and policy types, based on which policy will work out best in the long run.

The same consideration applies to federal employees too, since making the right choice is essential. Federal Long Term Care Insurance is…