Caring from a Distance: Tips on How to Help Aging Loved Ones When You’re Not Around the Corner

Many years ago, it was quite common for children to live in the same city they were born and raised in. They may have even decided to purchase a home in the same neighborhood where their parents still lived. Today, such a scenario is a relic of the past. Many people do not live close to their parents and are scattered across states, and even countries. So you need to ask yourself this important question - when your parent’s health begins to fail, what will happen? Do you know who will care for them if they can’t take care of themselves?...

18 April

0 Comments

Sticky

Proper Medicaid Planning Is Essential for Long-Term Care

Posted by KarenLewis

in Bobby's Blog

The National Institute on Aging reports that roughly 70 percent of American over the age of 65 will need some type of long-term care. If that isn’t shocking enough, the NIA reports that over 40 percent of Americans will need some type of nursing home care at some point in their life. You may be thinking, “What’s the big deal?” Well, considering the fact that the annual cost of long-term care at a nursing home is over $100,000 per year, the “big deal” is financial – the cost of care could quickly wipe out your savings leaving you with very...

17 November

0 Comments

Sticky

Importance of Disability Planning

Posted by KarenLewis

in Bobby's Blog

You and your loved ones may be relatively healthy today, but can you guarantee you’ll be just as healthy 20 years from now? Of course not. No one can predict when and if they develop a physical disability or disease. No one can be ready for the day they walk into their doctor’s office and are told they’re suffering from Alzheimer’s or cancer. Even if you eat a perfect diet, exercise every day and take supplements, you still can’t avoid the risk of suffering a debilitating physical ailment. For example, one-third of adults over the age of 65 suffer a...

16 October

0 Comments

Sticky

How the Affordable Care Act Affects Special Needs Planning

Posted by KarenLewis

in Current Events

The Patient Protection and Affordable Care Act, also known as the Affordable Care Act or “Obamacare”, was designed with the objective of increasing insurance coverage for all American citizens, including those with disabilities. The health care law includes a mandate to insurance companies that they cover all applicants and offer the same premium rates for applicants, regardless of pre-existing conditions. This is a dramatic reform for families with special needs children. Why? Because prior to the passage of the Affordable Care Act, the only viable health insurance option for their loved one with a special need was Medicaid. The cost...

10 March

0 Comments

Sticky

Reverse Mortgages Becoming Popular Financial Planning Tool, But Can Impact Your Ability to Qualify for Medicaid

Posted by KarenLewis

in Bobby's Blog

Reverse mortgages have quickly become a popular financial planning tool and there are many benefits associated with this type of mortgage. However, there are some potential drawbacks you should be aware of when it comes to qualifying for Medicaid benefits. This isn’t meant to dissuade you from considering a reverse mortgage, just advice to help you in how to best arrange the method in which you obtain the equity from a reverse mortgage. Here’s how a reverse mortgage works – you take out a reverse mortgage loan and have the option of receiving the home equity through: (1)...