Monthly Archives February 2016

CDC Report Details Characteristics of Assisted Living Residents

Bathing is the most common activity of daily living with which residents of assisted living or similar residential communities need help, according to a new report from the Centers for Disease Control and Prevention’s National Center for Health Statistics. The report sheds light on the characteristics of the 835,200 residents in such communities who were provided long-term care services as of 2014.  “Findings on differences and similarities in supply, provision and use, and the characteristics of providers and users of long-term care services, can inform policy and planning to meet the needs of an aging population,” according to the report,
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Using Tax Advantages of Life Insurance in Your Financial Plan

Hooties Take: Before ruling it out, be sure to understand the numerous financial advantages that life insurance policies may provide.  Many of these benefits can be useful not only in the event of death, but while alive, too. While most people may look at life insurance proceeds simply as a way to pay off debt or to replace the insured’s income, there are tax-related benefits that can make life insurance policies a viable planning tool in other areas of your finances. Certainly, one of the primary advantages of life insurance is that death benefit proceeds go to the beneficiary income tax-free. This means the recipient of
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A Promise Sometimes Impossible to Keep

Hooties Take: While nursing home care is the highest level of long-term care available, it is only one of the many long-term care options.  It’s best to maintain an open, transparent line of communication and put a plan in place with loved ones long before long-term care is needed. Whenever Sarah Harris and her husband, Ernie, drove past a nursing home, he would say the same thing: That’s where you’re going to put me. That’s where I’m going to be sent. “I would say, ‘No, I don’t think that’s going to happen,’ ” said Harris, of Fairfax, Va. Her husband had been
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How Important is Long-Term Care Insurance for Retirees?

Those who are about to retire know and worry about the fact that at some point, they will need medical care, probably for an extended period. This could be in the form of home-based care or being cared for at a medical center, but either way, the expenses associated with medical and health care are enormous. Ideally, you will need to start planning how to take care of these future costs while you’re still young, healthy and earning a regular income. Here are some facts about long term care that anybody who is planning their retirement, or about to retire,
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