LONG-TERM CARE...DID YOU KNOW?
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Did You Know...
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About
one-third of individuals turning 65 in 2010 will need at least three
months of nursing home care, 24% more than a year, and 9% more than
five years.
(Source: What Is the Distribution of
Lifetime Health Care Costs from Age 65?, Center for Retirement Research
at Boston College, March 2010) |
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About 71% of nursing home residents are women.
(Source: CDC Vital and Health Statistics, Series 13, No. 167, June 2009) |
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The national average daily rate in 2011 for a private room in a nursing home was $239, an increase of 4.4% from 2010.
(Source: 2011 MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services, and Home Care Costs) |
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The average length of a nursing home stay is 835 days.
(Source: CDC Vital and Health Statistics, Series 13, No. 167, June 2009) |
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At
an average daily rate of $239, an average nursing home stay of 835 days
currently costs almost $200,000 making it virtually unaffordable for
many Americans. |
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Medicare does not pay for long-term care services, as explained by the Social Security Administration:
“About Social Security and Medicare...
Social Security pays retirement, disability, family and survivors
benefits. Medicare, a separate program run by the Centers for Medicare
& Medicaid Services, helps pay for inpatient hospital care, nursing
care, doctors’ fees, drugs, and other medical services and supplies to
people age 65 and older, as well as to people who have been receiving
Social Security disability benefits for two years or more. Medicare does not pay for long-term care, so you may want to consider options for private insurance (emphasis added).” |
Without proper planning, a serious accident or illness could rob you of your financial independence.
Whether purchased for yourself, your spouse or for an aging parent,
long-term care insurance can help protect assets accumulated over a
lifetime from the ravages of long-term care costs.
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MESSAGES
from the Masters...
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HUMAN RELATIONS
by Zig Ziglar
Abraham
Lincoln, truly one of our greatest presidents, had a rather unique
approach in trying a case when he was a practicing attorney. He went to
great lengths to learn everything he could about what the attorney for
the "other side" would say. Then, in his arguments, Lincoln would do a
superb job of presenting the case from his opponent's side of the
table. On occasion, the attorney for the other side would make the
observation that Lincoln had presented the opposition's case better
than he could have.
Perhaps
you wonder why he took such an approach. First, he wanted to be fair.
Second, he wanted to win the case if he believed his client was right.
Needless to say, Lincoln then presented his own side with more fervor,
facts, and reasons why his side was the right side.
By
using this procedure, Lincoln completely robbed the opposition of
anything to say and built his own case in a stronger manner. He also
wove in more humor and homespun stories when he presented his case.
Most people, including jurors, like and trust those who give them cause
to smile and who bring homespun logic to the table.
What
Lincoln did was simple. He practiced great human relations and used his
abundant common sense. He wanted right to prevail and when he presented
his case, as a general rule, the right side did win. Think about it.
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Brought to you by:
| Jeffrey N. Schweitzer, EPA, CEP, ATP
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| Northeast Financial Strategies Inc
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About our firm:
Offering Financial & Estate Planning, Investments, Insurance, Accounting, Payroll, and Income Tax Preparation for Individuals & Small Business. "Financial Strategies That Fit YOUR Needs!"
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QUOTES
from the Masters...
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On Experience
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"Don't
let the learning from your own experiences take too long. If you have
been doing it wrong for the last ten years, I would suggest that's long
enough!"
-– Jim Rohn
"For
years I have been accused of making snap judgments. Honestly, this is
not the case because I am a profound military student and the thoughts
I express, perhaps too flippantly, are the result of years of thought
and study."
-- George S. Patton
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On Mastery
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"With more success, comes greater problems along with greater ability to solve them."
-– Mark Victor Hansen
"Challenge everything you do. Expand your thinking. Refocus your efforts. Rededicate yourself to your future."
-– Patricia Fripp
"A professional is a person who can do his best at a time when he doesn't particularly feel like it."
-- Alistair Cooke
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