Start Planning for Long-Term Care Now

People are living longer, and while this is a desirable goal, you should look into a longevity plan. Now is the best time for you to start considering long-term care as a part of your retirement plan. Medicare only covers short-term and acute medical conditions. Medicaid does cover nursing home costs, but there are strict asset limits associated with the program.

If one spouse has to quit his/her job to give care to the other spouse, it can increase stress and lead to deteriorating health. Emotional and physical requirements are draining as well.

See Wesley Wright and Molly Abshire, Plan for your Longevity, Senior Living, Apr. 18, 2012.  

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.