Long Term Care Insurance is essential! Caregiving isn’t Free
My wife and I have a friend who is dying of cancer, and we visited him in August and November of last year. Six years ago, he was diagnosed with prostate cancer and has experienced many medical procedures and scheduled doctor appointments. I have encouraged them to own a caregiving plan, whether a regular long-term care plan or a True Freedom plan. So that whether at home or in a care center, there will be funds to pay for care. I encouraged the minds to ask her son to pay for Ben if they did not have the funds fit, which would help them if either needed care. People believe that not owning an LTC plan is less expensive than owning a plan. They do not realize that no cautious self-investment can do what an LTC plan can accomplish, along with tax saving. I don’t know anyone complaining because they have a benefit with ‘no tax consequences.’
When a family member is a caregiver, they should have long-term care insurance.
Now that he needs massive care, his wonderful wife is now the full-time caregiver and has been for almost a year. She has become overwhelmed with how much physical and emotional effort it takes to care for her husband. They are both retired. What would your life be like if you needed to care for your spouse or partner and had a thriving career? What is your plan? How will you coordinate care? How will you check what care and equipment to use? Where will you seek advice with care support services?
Hiring an expert to help
Look at Tena’s website! You will view links with services and products that can help to keep people at home or when it is suitable to transition to a care center. Overseeing this can cause you because you can’t be in 2 places at one time, taking care of your business and t loved ones. Instead, look into hiring some help. This will allow you to rest and ensure your loved one is properly cared for. Or maybe you want to spend more time with your loved one while taking a break from some redundant business tasks. Let Tena help you so you can take care of your business and your loved ones.
You need money to rent equipment or hire help.
The home of our friend had to accommodate the new material. His bathroom has the equipment to help him go to the toilet and shower. He has a bed, so he can more easily transfer himself to and from the bed. There is a wheelchair and a board to help him move from chair to bed and bed to chair. Medicare pays for some of the equipment. However, it would have been easier financially if they had owned a long-term care plan. This would be available to pay for home modifications and equipment.
Do not forget about in-home therapy and care.
People think you must go to a facility to receive home therapy. Home therapy is available if you own a long-term care plan or are on Medicare. Also, if you use Medicare, you are dependent on their rules. If you own a long-term care plan, you have choices with licensed caregivers who will visit your home. A few months ago, he transitioned to Hospice, which has its rules and procedures. If they owned a long-term care plan, they wouldn’t have to worry about the cost of physical therapy.
Another fact I didn’t know
When you are in Hospice, you cannot leave your location. This means they can deny hospice services if you travel to another state for any reason. So, for example, if they owned a long-term care plan, hospice services would pay for care services. And it wouldn’t be a problem to travel somewhere for a few days.
- No matter your health or frailty, going to another location
- Visiting friends
- Going for a meal
- Attending some activities is helpful for everyone’s mental health.
Tena and others will provide caregiving support advice and services. She will help companies, families, friends, and caregivers cope with providing care, recommending equipment, and home modifications. In addition, she will offer helpful services to companies and employees to coordinate care services.
Have a caregiving plan.
Caregiving isn’t free, and when you read about caregiving services, there needs to be a recommendation to own a long-term care plan. You don’t buy a home or an automobile without insurance. Also, many own roadside services plan when their car isn’t working. Why wouldn’t you want to do the same for your care? People want to make their own decisions about whom they hire. Or you can have Medicare or your Insurance Plan decide who will help you. It is beneficial for companies to offer Long-Term Care Benefits to their employees. Beyond the plan, tax benefits are available for the company and those who own long-term care plans.
Having who you want with a plan
Some people are comfortable with strangers coming to their homes for caregiving and medical services. Others are more cautious or afraid to have people sent by an agency they don’t know. If you don’t have the money, you can only rely on who the Hospice or Medicare agency allows. OR if you own an LTC plan, you can hire the people you ‘choose,’ and you feel comfortable. You can have both, but when it comes to your care, do you want to rely on who chooses you? OR do you want to have your spouse or family hire people you want to care for services personally? People who are not well or frail feel vulnerable and afraid. Feeling apprehensive will question whether you need caregiving. And your family providing the care services must interact with paid caregivers.
Most successful people have plans.
Businesses have various contingencies in their career and business endeavors. Having a plan for an event for caregiving also needs a funded program (call it a reserve as you would be for your business) if you think taking care of a child is challenging. What would it be like if you had never had the caregiving experience to care for an adult who has daily activity needs but is still an adult?
When does a long-term care plan become active?
The LTC plan becomes active when ‘activities of daily living come into play. Things like:
- Toileting and continence
- And cognitive impairment
It is not frailty or illness; it is what happens to people because of illness, weakness, or accident. Most long-term care plans offer comprehensive care services. Whether at home or in a care or cognitive center. The programs pay for care services who have chronic, accident, or frailty where they can not do activities of daily living.
There are plans available for people to own where activities of daily living benefits are available without having to have activities of daily living. True Freedom offers benefits without having to have activities of daily living. Owning a long-term care plan and having a short-term project is essential, which will provide support services if there is a long-term care plan waiting period. If you believe that caregiving plans are beneficial within a financial range, my mother is 99 and will be 100 in April. She owns an LTC plan and has used her method for over ten years. Her income is around $1 million, and she has told me that the benefits have been helpful to her to receive payment from her plan with ‘no tax consequences.’
There are Caregiving plans available for every person to fit your budget.
Based on your health, age, family history, and personal preferences. Those who are or will be caregivers will enjoy owning a plan. This will provide funds to pay for your services along with caregiving services. Please view the video for those beyond owning a project and recommend they contact me. This plan pays for home care; you can be any age, and there are no health or waiting-to-schedule delivered caregivers. For more information, check out this post on paying for caregiving.
Caregiving can be challenging, frustrating, and highly stressful!
But it doesn’t have to be that way.
I will tailor the sessions to your specific needs to:
Education in caregiving refers to acquiring the knowledge, skills, and understanding necessary to provide care for individuals who require assistance with activities of daily living, such as bathing, dressing, eating, and grooming. This education can be obtained through formal programs or on-the-job training and experience. Education in caregiving aims to equip individuals with the skills and knowledge necessary to provide high-quality, compassionate care for those in need.
Caregiving can be challenging, frustrating, and highly stressful!
But . . . it doesn’t have to be that way.
Imagine . . .
- Giving care with expertise and confidence
- Managing your loved one’s daily activities in an organized and structured way
- You follow a proven caregiving system that provides for your loved one’s needs while giving you peace of mind.
If the above sounds like what you need and have been searching for desperately . . . Then you need to enroll in The Ultimate Secrets to Caregiving with LESS Stress and MORE peace course!
About the author
Raymond Lavine Lavine LTC Benefits www.lavineltcins.com advises family avoiding using their income and assets for extended care by owning a plan that provides a predictable income stream and maintains the family’s lifestyle and estate planning.
Emotional Well-Being: Raymond Lavine’s father needed extended care assistance three times but had no care plan to pay for the services. His 98-year-old mother owns a long-term care plan and has benefitted from home care services for ten years.
Knowledge: Lavine has a BA in International Relations from the University of Southern California; an MBA and MA from Drucker-Ito Graduate School of Management, Claremont Graduate University; and the CLTC designation.
Financial Gain: Lavine provides common-sense advice about paying for care with a predictable income stream. This planning avoids spending personal assets to pay for maintenance, and there are no income tax consequences when a benefits plan pays for care.