Long Term Care

For the last decade, financial planners, accountants, and enrolled agents have invited Shari as a public speaker to present on the topics of long term care and risk management. Shari has a vast amount of experience in the area of long term care, both from personal experience with her family members, and with her clients.

Is it really necessary to plan for long term care?


What about relying on Medicare and/or Medicaid for long term care?

The financial reality is that the public cannot rely on government social programs such as Medicare and Medicaid to fund their long term care costs. First, these types of programs are limited in coverage and care options.

Visit longtermcare.acl.gov for more Medicare and long-term care information.

Second, the future solvency of Medicaid is in question and Medicaid beneficiaries must have limited assets to qualify. In addition, even if a client does qualify for Medicaid there is a mandatory recovery from the estate of the deceased beneficiary. This means all financial benefits paid out by Medicaid, for the Medicaid beneficiary, will be recovered from that person’s estate when he or she passes away.

What is the best plan for long term care that provides the greatest flexibility and best care options?

The best long term care planning necessarily involves private insurance, in addition to certain types of provisions in a client’s estate planning documents. This is true even for wealthy clients because of the leveraging effect of the dollars used to pay premiums. Without a sound long term care plan in place, clients can find themselves and their spouses financially devastated if a chronic long term illness arises.

The navigation of policy features and different long term care contracts can be a daunting task for clients. Shari can streamline this process, potentially do so in a tax free manner and adeptly assist clients because of her 20+ years of experience in the profession.