Category: Long Term Care

Nursing Home & Elder Care Costs Keep Climbing

As the average age goes up, so does the cost of getting older. U.S. News & World Report reveals that the median price for a private nursing home room in the United States has reached $91,250 a year — the highest we’ve ever seen. In New Jersey and Pennsylvania, meanwhile, the numbers are even higher[...]

Batman Artist Turns to Crowdfunding for Health Care Costs

Batman’s faced plenty of tough foes in the course of his career, but there’s one nemesis still awaiting Bruce Wayne a few years down the road: long-term care costs. Just ask Norm Breyfogle, a well-known comic book artist most famous for his work with “The Caped Crusader.” The New York Times recently recounted Breyfogle’s struggle[...]

Paying for Alzheimer’s: Medicare, Medicaid, and Long-Term Care

Few diagnoses are more devastating than Alzheimer’s, both in terms of its health toll and its extraordinary financial imposition on families. Paying for long-term care isn’t easy, especially if you or your parents haven’t already been saving for years. Even well in advance, finding the extra money to set aside for a long-term care fund[...]

What Do Heirs Want More Than Money?

New Jersey residents can expect to live longer lives than ever before. Unfortunately, residents who live longer lives will also be exposed to the staggering costs of long-term care. This necessarily means that there will be less money to pass on to the next generation. As a recent article explains, however, this will likely not[...]

Carry Your Estate Plan With You

New Jersey citizens should take care to prepare for the possibility of an accident or other emergency. As a recent article explains, one way to do this is to carry your important documents with you on a USB drive. So what kind of documents should you store on a USB drive? While the answer to[...]

Aging Without Children

Nearly a quarter of the baby boomer generation is childless. As this large segment of the population continues to age, concern is rising over who will care for the boomers who never became parents. As an article in the New York Times explains, however, studies show that childless adults are not receiving any less care[...]

Plan for Long-Term Care Costs Now

While most Americans are aware of the distinct possibility that they will require long-term care after reaching the age of seniority, it is next to impossible to determine when this care will be needed, and what the extent of it will be. It is therefore vital for everyone to have a plan for the potential[...]

Paying for Nursing Home Costs

The number of people who will require nursing home care will continue to rise as the baby boomer population continues to age. Although there are a myriad of programs that may assist these people in paying for that care, often times people need help navigating their way through these options. A recent article discusses several[...]

Do You Need Long-Term Care Insurance?

According to the Center for Medicare and Medicaid Services, at least 70 percent of Americans over the age of 65 will require long-term care services. As the costs associated with long-term care provided in skilled nursing facilities continues to grow, more Americans consider purchasing long-term care insurance. A recent article discusses whether long-term care insurance[...]

Do The Wealthy Use Medicaid?

A common estate planning strategy often discussed is the “Medicaid spend down.” This occurs when a person reduces his or her assets so that he or she can qualify to receive Medicaid benefits. Medicaid, of course, is an entitlement program. Individuals rely on Medicaid as a last resort to cover the astronomical costs of long-term[...]