They're selling EVERYTHING to qualify for Medicaid

They're selling EVERYTHING to qualify for Medicaid

Author: Diane Stoddart, Certified Long Term Care Consultant, CLTC September 12, 2024 Duration: 9:09
Preparing For Tomorrow podcast
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Yes, a colleague of mine is selling all of her uncle's belongings because he was "put into aged care". Those who plan know where they want to be when a long term care event enters the picture. And they have the income, savings and LTC insurance to support their plan. Most stay home with help for most to the need and move to assisted living if care needs increase. Most don't ever live in a nursing home, and they surely don't get "put" somewhere. People without a plan put their whole family in a crisis mode adter a severe stroke or when Alzheimer's or other dementia shows up. The three questions we need to ask are: 1) Where do I want to be when needing help to et through each day? 2) Who do I want to have there with me? 3) How will I pay for this? Needing LTC services is expensive. Home care easily costs near $40/hour today, and assisted living $4-8000/month. Costs of care are increasing by about 5% annually. Schedule some time with me to protect your family when life doesn;t go as planned https://calendly.com/diane-p4t/30min

Diane Stoddart brings a professional yet deeply personal perspective to the complex world of long-term care planning in Preparing For Tomorrow podcast. As a Certified Long Term Care Consultant, she understands that preparing for future care needs involves more than just finances-it's about safeguarding your family's well-being and peace of mind. Each conversation cuts through the industry jargon to clarify the real options available, from insurance products to legal strategies, all aimed at protecting your life savings from being depleted by unexpected care costs. You'll hear Diane break down essential concepts and terms, making a daunting subject feel manageable and urgent. Alongside expert guests, she explores the emotional and physical dimensions of caregiving, offering a holistic view that acknowledges the full weight of these decisions. This isn't about fear; it's about empowerment through knowledge. Tuning into this podcast provides a straightforward guide to creating a practical plan, ensuring you can face tomorrow with confidence rather than anxiety, knowing your loved ones and your legacy are secure.
Author: Language: English Episodes: 100

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Podcast Episodes
I want to buy an LTC policy for my parents [not-audio_url] [/not-audio_url]

Duration: 9:31
We often hear from sons and daughters who want to buy LTC coveeage for a parent. This could be to preserve a family home, to avoid Medicaid, or because they watched their parents care for their own parents for several ye…
What tax advantages are you overlooking? [not-audio_url] [/not-audio_url]

Duration: 16:20
This week is about tax deductions and tax savings with LTC insurance. Individuals and business owners often overlook the tax advantages that a long term care insurance plan offers. Listen and learn who can use what kind…
In this economy, it's even more important to have a plan [not-audio_url] [/not-audio_url]

Duration: 9:34
This week, I'm hearing that people want to plan for potential LTC needs, but they are afraid to do that today because of our uncertain economy and stock market fluctuations. It's more important than ever to own our own p…
30 years of retirement needs 30 years of LTC protection [not-audio_url] [/not-audio_url]

Duration: 10:29
We and our financial advisors are preparing to need money to last 30 plus years in retirement, yet we don't trust LTC insurance companies to help protect us during that time. If we think we're going to live that long, do…
Case Study: Is age 79 too late to buy LTC insurance? [not-audio_url] [/not-audio_url]

Duration: 11:36
I was introduced to a couple ages 79 and 72 who thought it might be too late to plan for LTC protection. Thankfully, companies that offer LTC coverage continue to create new ways to plan and help older Americans protect…
Questions 9 & 10 - Nursing homes? Paying family? [not-audio_url] [/not-audio_url]

Duration: 9:51
This week, we answer two questions by sharing some history of the long term care industry. 1) Do I have to go to a nursing home to receive my benefits? 2) Can I use my LTC policy to pay my family? Listen and learn how th…
Question 8 - How long will I need to pay my LTC premiums? [not-audio_url] [/not-audio_url]

Duration: 11:56
Would you rather pay $145,000 or $245,000 in total premiums to have $1,300,000 in long term care benefits at age 85? When we pay our premiums over a shorter number of years, we almost always pay less than if we pay a sma…
Question 7 - Does Medicare pay for long term care? [not-audio_url] [/not-audio_url]

Duration: 12:12
Many believe that Medicare pays for long term care needs. Many also confuse Medicare and Medicaid. Listen and learn how both of these government programs work and why we need to understand why it's important to plan for…
Question 6 - What's the best age to buy LTC insurance? [not-audio_url] [/not-audio_url]

Duration: 11:15
This is always the question. We all want to wait as long as we can before paying for something we don't want to own to protect our family from something that we don't want to happen. Let me tell you - if that something i…

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