THE NEED FOR A PLAN OF ACTION

Does your Financial Plan include Long-Term Care protection? It should. You have insured your home, your health, your car, and even your life. You have carefully planned your savings and investments, but all your plans could be wasted if you or your spouse need Long-Term Care.

At an average cost of $72,000 a year for room and board plus drugs and care-related supplies, it doesn't take long to wipe out a family's best laid financial plans. Long-Term Care is considered to be the nation's greatest uninsured need. This is true because Long-Term Care is the ONLY major health care expense that is NOT covered by Conventional Group or Individual Health Insurance, including HMO's. Nor, is it covered by Medicare, or Medicare Supplements. And surprisingly, 40% of those receiving Long-Term Care Services, right now, are working age adults ages 18-64 due to accidents, strokes, brain injuries, tumors, mental conditions, AIDS, multiple sclerosis, muscular dystrophy, and even early onset of Alzheimer's and Parkinson's Disease.

Most importantly, Long-Term Care Protection for many represents the best opportunity to retain a sense of dignity- in the form of purchasing power- which all too many people have lost to the merciless financial demands of Long-Term Care. Many people are now looking seriously at Long-Term Care Protection to maintain independence and choice and to avoid depending on others for care. Long-Term Care Protection means choices and options. But for most of us, Long-Term Care Protection may be the main key to not outliving our money- a very real fear that a number of people have as life spans continue to increase.

Forty one percent of baby boomers ages 45-54 expect care giving to increase in the next 5 years. If you become a caregiver, there is a very real probability that quality of life may suffer for you and your family if you do not have a Long-Term Care Action Plan in place that you can access when the Long-Term Care need arises.

We cannot depend on Medicaid. In fact, keeping the current entitlement programs - Medicare and Medicaid - afloat is the reason that Congress passed into law, in February 2006, the most sweeping changes to these programs since their inception. The Deficit Reduction Act of 2006 makes it virtually impossible to protect or hide assets in order to appear impoverished to have the Entitlement programs pay for Long-Term Care needs. Aggressive Estate Recovery Programs have been put into place to recover hidden assets from those who attempt it. In addition, unfortunately, many nursing homes have dropped out of the Medicaid program leaving long waiting lines and limited choices at those remaining.

The message is loud and clear: Take care of your Long-Term Care needs with Private Protection because there isn't enough money to create a new entitlement program for everyone. Having a Long-Term Care Protection Plan in place, JUST MAKES SENSE!