Saturday, November 17, 2012

How will the election affect my ability to get long term care?

I have been asked this question by everyone I met this week. Hundreds of millions of dollars were spent on advertising messages and no one is any clearer on the important issues.
Folks, the changes that will be coming due to the PPACA (Obama Care) will reduce funding for Medicare and Medicaid. More of the cost will be shifted to States and individuals. This makes the decision to plan for your future needs even more important. For those who think of themselves as conservatives, the watchword is self reliance. If you have not secured LTC insurance how will you be "self reliant".
Dave Ramsey, a nationally sydicated writer and radio host recently addressed the question of long term care insurance. He advised that unless you can fund 20 years of care for you and your spouse out of savings, get the insurance. Today one year of care runs $30 - $100,000. In the next 15 years it could easily double.  Most of the population will experience signifigant health changes before they turn 60.  I assert that you need to address this in your 40's and 50's while you still can health qualify.  Don't sit and sulk about it.  Do something.  Call an expert and get educated so that you can decide how to best prepare for your future. 

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