Protect My Assets

Medicaid rules have changed dramatically making it harder than ever to protect your assets from the expenses related to long term care.

YOU MAY NEVER NEED LONG TERM CARE, BUT WHAT IF YOU DO? DO YOU KNOW WHICH LONG TERM CARE NEEDS ARE COVERED BY YOUR HEALTH INSURANCE, MEDICARE AND MEDICAID? 

Long term care includes:

§ extended hospital stays

§ nursing home stays

§ assisted-living facility stays

§  in-home health care

§ adult day-care services

§ respite services for caregivers

§ other related services

These needs are generally not covered or minimally covered by private or employer sponsored health insurance or Medicare. And because Medicaid is based on financial need, it is often necessary to deplete personal resources before Medicaid will begin to cover any long term care costs.

There is no way to determine definitely whether or not you will someday need long term care. But consider this:

·        According to the U.S. Department of Health and Human Services, people reaching age 65 face at least a 40 percent lifetime chance of entering a nursing home and 10% of those will remain five years or longer. 

·        By 2020, 12 million older Americans will need long-term health care. (HIAA, “A Guide to Long Term Care Insurance”, 2002)


Long Term Care Insurance is very like automobile liability insurance in that you buy it as protection, hoping it will never be needed. It is important to take the time to analyze what would happen to your family and finances if the need for long term care arose. How would you pay for the care? What would be the impact on your spouse or other dependents? What would be the impact on your financial resources for other areas of your life?

Long Term Care Insurance gives you the ability to get the care you need and still protect your resources and your loved ones’ quality of life.

Please CLICK HERE to ask a question, get more information or contact us.