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Table of Contents |
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PAGE |
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What People Are Saying |
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Prologue |
i |
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What People Are Saying |
iii |
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Letter from Habitat for Humanity International |
iv |
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Message to Reader |
vi |
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Table of Contents |
x |
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Chapter 1: What is Long-Term Care and Who May Need It? |
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• What is Long-Term Care? |
1 |
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• Why Plan for Long-Term Care? |
3 |
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• Elder Care's Cost to Firms Pegged at $29 Billion Yearly |
4 |
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• Long- Term Care is Not Just for the Elderly |
5 |
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• What You Can Do at This Point |
5 |
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Chapter 2: Long-Term Care is a Family Issue |
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• Long- Term Care Assistance at Home |
6 |
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• Community Resources |
7 |
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• Geriatric Care Managers |
8 |
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• Other Resources |
10 |
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• Talking to Your Parents About Long-Term Care Needs |
10 |
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• Safeguard Vital Financial and Legal Documents |
11 |
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• Importance of Tax Information |
11 |
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• Taking Care of the Caregiver |
12 |
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• Family and Medical Leave |
13 |
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Chapter 3: Medicare |
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• Medicare is Spending Less for Home Care Services |
15 |
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• What are Medicare, Medicaid and Medi-Cal? |
17 |
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• What Medicare Covers |
17 |
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• Medicare and Long-Term Care. : |
19 |
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• Home Care |
22 |
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• Medigap Insurance |
23 |
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• Standard Medigap Plans |
23 |
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• Overview of Medigap Plans K and L |
23 |
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• Medigap Benefits and Medicare Part D |
23 |
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• Obtaining Medicare Benefits |
26 |
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Chapter 4: Medicaid / Medi-Cal |
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• Family Involvement and Medi-Cal Issues |
28 |
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• What are Medicaid and Medi-Cal? |
29 |
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• What Do Medicaid and Medi-Cal Cover? |
30 |
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• Medicaid/Medi-Cal and Long-Term Care |
31 |
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• Medicaid/Medi-Cal Assets |
32 |
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• Spousal Income and Assets |
33 |
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• California Partnership Plan |
34 |
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• Medi-Cal Programs for In-Home and Community Care |
34 |
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• Personal Care Services Program |
34 |
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• In-Home Supportive Services |
34 |
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• Multipurpose Senior Services Program |
34 |
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Chapter 5: Long-Term Care Insurance |
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• The Freedom to Choose |
35 |
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• History |
35 |
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• Inflationary Pressures on Nursing Home Costs |
37 |
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Chapter 6: Long-Term Care Policy Purchase Considerations |
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• Select a Company with Staying Power |
41 |
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• How Much Long-Term Care Insurance Should You Buy? |
42 |
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• Services Covered by Long-Term Care Insurance |
43 |
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• Services Not Covered by Long-Term Care Insurance |
44 |
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• Premium Increases |
44 |
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• Policy Cancellation |
44 |
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• Contract Terminology (Definitions of Contract Terms) |
44 |
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• Choosing a Long-Term Care Policy: A Checklist |
48 |
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• Tailoring Benefits to Your Own Needs |
49 |
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• Durable Power of Attorney for Health Care (DPAHC) |
49 |
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• DPAHC vs. Living Will |
50 |
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Chapter 7: Association Plans and Health Savings Accounts |
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• Financial Crises: Medical Insurance and Long-Term Care |
51 |
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• Association Plans |
51 |
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• Programs That Help with Medical Expenses and Long-Term Care |
52 |
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• Federal Long-Term Care Program |
52 |
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• Health Savings Accounts: The Basics |
53 |
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• Health Savings Accounts: Questions & Answers |
56 |
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• Medical Reimbursement Plans |
57 |
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• Uninsured or Self-insured Plans |
57 |
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• "COBRA" Continuation Coverage |
58 |
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• Cafeteria Plans |
59 |
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Chapter 8: Alternative Ways to Fund Long-Term Care |
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• Life Insurance Policies with Special Riders |
63 |
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• Critical Illness Policies |
64 |
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• Annuity Contracts |
64 |
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• Veterans Administration (VA) Benefits |
66 |
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• Continuing Care Retirement Communities |
66 |
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• Self-Insurance Using Personal Assets |
67 |
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• Viatical Settlements |
68 |
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• Family or Private Foundations |
69 |
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• Reverse Mortgages (Home Equity Conversion Programs) |
69 |
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• Pioneers Set to Change Nursing Homes |
70 |
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Chapter 9: Tax Implications |
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• Policies Purchased Before 1997 |
72 |
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Chapter 10: Insuring Your IRA |
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• Why Does It Matter? |
76 |
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• Long- Term Care For Your IRA |
76 |
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• Insuring Your IRA |
76 |
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• Coupling Life and Long-Term Care Coverage |
76 |
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• Placing Life Insurance Outside of the Estate |
78 |
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• Charitable Remainder Trust Strategy |
80 |
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• More Planning Alternatives |
81 |
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• Corporate Strategies |
82 |
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Chapter 11: Proper IRA Distribution Planning |
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• Making Sure Your Heirs Get Your IRA |
85 |
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• Losing Out on the Stretch |
85 |
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• Inherited IRA Basis |
85 |
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• Make Your Legacy Last |
87 |
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• Important Considerations for Stretch lRAs |
88 |
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• Naming No Beneficiary or the Wrong One |
88 |
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• Income in Respect of a Decedent (IRD) Checklist |
90 |
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• Converting to a Roth IRA to Benefit Heirs |
91 |
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• For Non-Spouse Beneficiaries |
91 |
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• Sharing with a Charity |
93 |
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• When Rollovers Might Make Sense |
94 |
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• Failed Rollovers: Good News, Bad News |
95 |
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• Qualified Plans That Contain Company Stock |
96 |
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• Putting Company Stock in Your IRA |
97 |
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• Mr. Smith Rolls Over |
97 |
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• Pop Quiz |
98 |
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• Help on IRA Withdrawals |
100 |
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• Ask the Pros |
100 |
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• The Roth IRA Alternative and Life Insurance |
100 |
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• Four Big Advantages of Life Insurance |
101 |
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Chapter 12: Estate and Asset Planning |
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• Long- Term Care as an Estate Planning Tool |
103 |
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• The Importance of Planning |
108 |
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• Issues to Consider |
109 |
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• Costs of Probate |
109 |
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• Important Terms |
110 |
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• Types of Trusts and Their Benefits |
110 |
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• Advance Health Care Directives |
112 |
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• ElderCare |
113 |
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• Estate Planning Questionnaire |
114 |
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• Retirement Planning Questionnaire |
115 |
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Chapter 13: Disability Insurance |
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• Disability Insurance Defined |
120 |
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• Why Buy Disability Insurance? |
121 |
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• Group vs. Individual Disability Insurance |
122 |
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• Tax Consequences of Group Policies |
122 |
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• Tax Consequences of Individual Policies |
122 |
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• What to Ask About Disability Insurance |
123 |
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• Federal and State Benefits |
124 |
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• Helpful Worksheets |
125 |
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Chapter 14: Choosing a Nursing Home or Nursing Care Services |
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• Things to Consider When Visiting a Nursing Home |
126 |
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• Costs of Care |
127 |
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Chapter 15: The World of Long-Term Care |
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• World Graying Quickly, Population Study Finds |
130 |
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• As Population Boom Goes Bust, World Economy Faces Grim Future |
130 |
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• Too Many Retirees? |
131 |
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• Zero Growth or Bust |
131 |
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• Fear of Immigrants |
132 |
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• More People, Richer Nation |
133 |
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• Population Trend Worrisome |
133 |
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• Projected Steep Decline Has Experts Asking Quality-of-Life Questions |
133 |
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• Political Crisis in the Making |
134 |
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Chapter 16: Volunteer Support: A Link in Long-Term Care |
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• What Is Caring Hands? |
136 |
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• How It Works |
136 |
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• How Does a Caring Hands "Match" Occur? |
137 |
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• How Are Volunteers Screened? |
137 |
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Chapter 17: The California Partnership for Long-Term Care |
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• Asset Protection |
139 |
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• Types of California Partnership Approved Policies |
140 |
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• Inflation Protection |
140 |
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• California Long-Term Care Insurance Plans for Public Employees and Their Families |
140 |
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• Types of CalPERs Plans |
141 |
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• Eligibility for Benefits |
143 |
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• Three Examples Regarding Partnership Policies |
144 |
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Appendix A |
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• AdditionalInformation on Reverse Mortgages |
145 |
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• Giving Seniors New Options |
148 |
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• Tax and Estate Implications |
150 |
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Appendix B |
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• For Financial Professionals |
153 |
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Footnotes/References |
154 |
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