COVID has caused us all to focus on health issues. It is flaring up again as you read this. We tend to avoid focusing on a major future health issue which is the possible need for Long Term Care or assisted living situations down the road.
There are two main reasons for this. One, people think “I’m healthy. It won’t happen to me.” And they ignore it. Do they have a family history of medical issues that they aren’t thinking about? Could this be a distinct possibility down the road? There are Medicaid spend down rules to think about and Long Term Care nightmares that could happen. People have heard the scare tactics side of it, but they lack the hard evidence that could help them make an informed decision that is right for them.
Roughly 85% of Americans over age 65 don’t have Long Term Care insurance even though the government says roughly 70% will need some sort of care. This is a major disconnect. When you think of your home, almost everyone has their home insured but there is a very small chance of fire/hail/hurricane/etc. as only 5% of homes have a claim.
People also think that traditional Long Term Care Insurance is expensive and that they will either use it or lose all the premium cost paid in over the years or decades. This brings up the second reason they don’t have coverage as many people are not aware there are other ways to solve for the Long Term Care problem. Obviously, they would benefit from further research like… “Am I in a certain risk group? What options are there other than paying for LTC premiums?” There are many including trust planning, asset based Long Term Care, gifting options, and more.
Vimvest offers educational events and has a no obligation discovery review where you can clearly understand what your options are. Learning more may help you preserve and protect your assets from the Medicaid spend-down rules, perhaps find the money falling through the cracks to pay for part or the entire Long Term Care problem and most importantly… assure your decision is right for you.
YOUR SUCCESS
IS OUR GOAL.
To register for our upcoming FREE educational dinner event, please call
Sara at 941-925-2121
Ruth’s Chris October 5th or
October 7th at 6:00pm
vimvest financial
941-925-2121
www.vimvestadvisors.com