Long term care (LTC) provides assistance for those who need help
\nperforming functions essential to daily living. These include basic
\nfunctions like eating or dressing yourself.<\/p>\n
Who needs it?<\/em> This assistance is needed after physical or cognitive loss, Who Provides this care?<\/em> If still living at home then the care is most Who Pays for it?<\/em> Costs for LTC are most often paid out of family or How much does it cost?<\/em> That will depend on how much care is needed, Your retirement plan should include how you\u2019ll cover potential long Edi Alvarez, CFP\u00ae www.aikapa.com<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Long term care (LTC) provides assistance for those who need help performing functions essential to daily living. These include basic functions like eating or dressing yourself. Who needs it? This assistance is needed after physical or cognitive loss, a disease, … Continue reading
\na disease, an accident, or loss that occurs naturally as we age. The
\nprobability of needing this type of support increases with age.<\/p>\n
\noften provided by either family members or in-home care professionals.
\nAt some point either by your choice or out of necessity you may have to
\ntransition to an \u201cassisted living community\u201d and\/or \u201ca nursing home\u201d.
\nRobotic tools are also able to provide some assistance for daily living
\nactivities.<\/p>\n
\npersonal assets. Medicare does not cover long term care. Medicaid
\n(Welfare) provides some limited coverage to low income families. In
\nyour retirement plan we need to include how you\u2019ll cover long term care
\nexpenses. Most often out of your assets or through insurance coverage.
\nLTC insurance needs to be seriously considered by age 50 since it may
\nbecome prohibitively expensive by the time you\u2019re ready to retire. LTC
\ninsurance premiums may be tax-deductible.<\/p>\n
\nwhether it\u2019s provided at home or in a dedicated community, and the cost
\nof living in your retirement area.<\/p>\n
\nterm care expenses \u2013 either out of assets or through insurance. We’ll
\nneed to determine which method and amounts are right for you.<\/p>\n
\n<\/sup>BS, BEd, MS<\/p>\n