In this episode of the Now or Never Long-Term Care Strategy with Kosta Yepifantsev, Kosta Yepifantsev is joined by long term care specialist Bill Comfort. Kosta and Bill discuss the various ways that the average American can pay for long term care, and how to rank those options.
One of the most common ways that people receive long term care is through informal care provided by family members or friends. While this may seem like a free option, it can come with significant personal costs in terms of changes in relationships and caregiver stress and health issues.
Another option for long term care is Medicaid, which is the largest payer of long term care services in the US. However, to qualify for Medicaid, individuals must be financially impoverished, which can be a significant barrier for many people.
For those who want to avoid relying on Medicaid and want to plan ahead, long term care insurance is another option. However, this can be expensive and may not be feasible for everyone.
The importance of planning for long term care and finding a balance between all available options is emphasized throughout the episode. By understanding the various options and their potential costs and benefits, individuals can make informed decisions about how to pay for long term care and ensure that they have the support they need in the future.
Overall, this episode provides valuable insights and information for anyone looking to understand their options for paying for long term care and planning for their future needs.
Join Kosta and his guest: Bill Comfort, Long-Term Care Specialist, Owner of Comfort Long-Term Care, Founder and Chief Author of the Long-Term Care Claims Professional designation and training program, and Host of Aging America Radio.
Featured everywhere from Fox News, The Wall Street Journal and Smart Money, for the past 30 years Bill has dedicated his work to bringing awareness and clarity to the issues of long-term care and more importantly how to prepare.
In this episode: how the average American will pay for long-term care, what you should prepare/save, when to reduce expenses/costs, and what age range is optimal to start creating a strategy for long-term care.
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