Preparing For Tomorrow podcast

This week, we're discussing rate increases on traditional or stand-alone LTC plans. Why do rate increases happen? What triggers the increase? How can we minimize or avoid future rate increases? The American Association for Long Term Care Insurance discusses why we should not expect large rate increases on current plans here View current and projected costs of care where you live at https://www.carescout.com/cost-of-care Learn what the Medicaid rules are in your state here Schedule a brief introduction call or zoom meeting with me here

Natalie inherited a $450K IRA from her mom and was able to use some of that money to design a hybrid life/LTC plan with tax free benefits if she needs extended care OR if she doesn't. She bought her plan five years ago and is half way done paying for it as it is a 10 year paid up plan. Before she retires, the plan will be fully funded. She won't need to think or worry about needing care or she can afford to provide for herself throughout retirement. Her kids won't need to worry about her, and she knows...

As promised, here is a link to a great blog by Suze Orman on how someone with $5,000,000 in assets needs to consider LTC insurance protection https://www.suzeorman.com/blog/how-long-term-care-insurance-can-protect-your-retirement-plan/ It seems that with nearly every person or couple I work with, a version of this question comes up. Which plan do I recommend most often? Although all LTC plans are similar in how to qualify for benefits, each company and even each plan within a company carries unique attributes to that are attractive to various wants and needs of interested buyers.. This week, Diane shares different/unique characteristics...

This is Season 6 episode 52! I'm so glad we've been able to educate people about LTC and LTC insurance for six years! As we prepare for Season 7, We'd love your input. What do you want to know more about? What do you like or dislike about the podcast? What else can I teach you? Email me at [email protected] and use the subject line?"Podcast Topics"

This week, we continue busting the perception of not wanting LTC insurance if it isn't going to cover all of our extended care needs. If we own insurance that pays for 75% of our needs for three or four years, then we and our family will only need to pay for 25% of the costs over that time. We also look at the top 12 most expensive states in which to receive and afford LTC services and how long average net worth can support that need. None of us are average, and none of us want average care when that event shows up...

The Milliman Report shares valuable data and statistics on traditional LTC plans. Here's a link to the report 2025 Milliman LTC Report This week, we continue to explore misguided reasons people don't use LTC insurance as a tool to help their families afford to provide needed care during an extended care event As promised, here are some links to past episodes when we shared the many costs of waiting to plan for this potentially catastrophic need. There are many more you can find by searching, and then schedule time to start planning today here I should have done this when I...

The 2025 Milliman Report shares valuable data on traditional LTC insurance companies and policies. Here is a link to the report 2025 LTC Report People always find reasons not to own LTC insurance and protect their families from this potentially catastrophic risk. Over the next two episodes, I'll share some of the reasons I've heard over the years and share why these reasons are unfounded. They're usually just excuses to not pay for a tool that can save your family from the physical, emotional and financial burdens we said we never wanted to place on them. Please listen and share this with...

This is always a busy time of year for me. I know it happens every year, and I need to remember to adjust my schedule a bit after Labor Day. This is the time when all the people I've been working with decide that they need to get a plan in place by year end. And they're reaching out now to get moving. I'm thankful to be the specialist you choose to manage this part of your retirement plan, and will gladly help. So today, I'm reposting a case study of a gentleman I helped in 2023. The plan we designed...

In this episode, Diane shares excerpts from a recent LTC Bullet published by The Center for Long Term Care Reform https://centerltc.com/ There is a ton of great research and information at the Center. their mission statement is below.... The Center for LTC Reform is a private institute dedicated to ensuring quality long-term care for all Americans by promoting public policy that targets scarce public resources to the neediest, while encouraging people who are young, healthy and affluent enough, to take responsibility for themselves. I encourage you to continue to learn more about what we're up against and what...

Sometimes, when long term care insurance or hybrid life/LTC insurance is not available due to health concerns or budget, it's good to know that there are other options that may be available. This week, Diane shares some of those options. All may not be offered in every state, but it's worth it to ask if you can consider some of these planning strategies. If we don't offer some of these solutions, we have trusted colleagues who do. Schedule a brief meeting to learn more at https://calendly.com/diane-p4t/30min The July 12, 2025 episode comparing annuities with income doublers...

When is it not a good idea to own LTC insurance? Many people search for long term care insurance simply to avoid letting Medicaid take over and decide where that care is received. We need to consider if the premiums are affordable while working AND after retirement. It doesn't do us any good to pay for five or ten years and then not be able to afford the premiums when our income changes. Others inquire after a diagnisis has been made that either limits or eliminates options. We need to apply for coverage at the time when we are young...

This week, Diane shares some situations when LTC insurance may not be the answer for a family. It's clear that if Diane and her husband had listened to this advice 25 years ago, they would not own LTC insurance today, and they would not be approved by almost every company that offers these plans if they were looking for answers today. To be clear, this is not all or nothing. There are always circumstances that could alter these points. The important thing to know is that, when it IS appropriate to transfer some of your risk to insurance, do it as...

Mike emailed asking about typical exclusions or pre-existing concerns with LTC insurance. LTC insurance is governed by Internal revenue Code (IRC) 7702(b). To be able to offer insurance, companies must adhere to this rule. American Association for LTC insurance (AALTCi) has many resources available on this https://www.aaltci.org/long-term-care-insurance/ You can view both current and projected costs of care where you live at https://www.carescout.com/cost-of-care I strongly suggest using a 4 or 5% cost of living factor when checking future costs. I think we'd be lying to ourselves if we believe the costs of care will be...

Just send me a quote can be compared to going out for dinner, but on a bigger level. When we go out to eat, we consider how hungry we are, what atmosphere we want for dining, what fits our budget, what kind and amount of food we want, and more. We need to plan for LTC needs the same way. Where would we want to live? Who will be providing care? How can we afford this? What companies and plans will consider our health risk? As a planning specialist, I have several insurance companies (restaurants) with various planning and funding...

This week, because I was the primary caregiver for our very sick dog, I exhausted myself for 10 days (nothing compared to caring for a parent or grandparent for several years). We're replaying one of your most listened to episodes about hybrid life/LTC plans as a refresher. Learn current and projected costs of care where you live at https://www.carescout.com/cost-of-care Learn what each state let's you keep to qualify for Medicaid at https://gotltci.com/2026/01/what-your-state-lets-you-keep/ and please note that if you request to meet with a specialist from this website, you'll need to ask for me...

As promised, here is the link to view my dog's awesome workout routine on Facebook Frank's facebook reels He's doing a little better each day and will hopefully be back to normal in a few more days. On long term care, we all have a plan. Some of us know what our plan is, and some are leaving the decisions up to others, maybe family, maybe the state Medicaid system. In either case, if our memory is fading, or if our decision making skills diminish, we can't be involved in those decisions, and the people around us are stuck tryuing...

This week, my guest Mary Ellen Gilbert with https://navacare.org/ shares how we can see the early signs that an aging parent or family member needs more support, even when they insist they're fine. She shares how her company helps families find the right place where their loved one can be the most comfortable at a time when nothing seems comfortable. We need to understand that the person in need is not resisting the help; they're resisting losing thier independence. That we can help them stay as independent as possible with the right support. We need to have these...

We all want to wait as long as we can to buy LTC insurance. Too often, health concerns diminish or eliminate what can be offered. In this week's episode, Diane shares consequences that show up when our parent's health and care needs interfere with our ability to plan well. If we implement and start paying the premiums earlier, we can fully fund our policies before mom or dad needs our money and/or our time because they had failed to prepare for their own care needs. If we could completely fund our plan before mom or dad asks for $2000/$4000/$6000 every...

This week we turn independence upside down. We think we're independent when we can live and receive care in our homes, but that forces our family to reshape their lives to support our progressing needs. Then families feel really bad when they realize they can't do it - they never knew how much work and time it takes. So many parents beg their children to never "put" them somewhere. Or when the subject comes up, they exclaim, "I'm not ready yet!" But then, after they do move to Senior Living, the new exclamation becomes "OMG, why didn't I move her...

In almost three decades, I've been asked to leave, I've been hung up on, I've been sworn at and more. But only one person actually got up and walked out of the meeting. This week, I'm talking about dads. The 82 year olds and the 32 year olds and how the role is changing for the better, in my opinion. Men are stepping up to help more with the kids and to just be present for them. It's a choice. It's also a choice to prepare today for a time when it may be harder to do the things that are taken...

This week, we learn about how state LTC Partnership programs started and how they developed over time to include most states. What is Long Term care Partnership? Why is this an effective way to help middle income and middle asset families protect savings when long term care is needed. Who benefits from these kinds of plans? The American Association for Long Term Care Advocacy has a ton of inormation on Partnership and may other subjects. You can find it https://www.aaltci.org/long-term-care-insurance/learning-center/long-term-care-insurance-partnership-plans.php You can view both current and projected costs of care )please be realistic...

People sometimes ask how I got involved in LTC insurance and how do I feel always talking about getting old or sick because it's so depressing. Here's how long term care and LTC insurance showed up in my life and why I am committted to stay. Review both current and projected costs of care where you live https://www.carescout.com/cost-of-care Please use 5% COLA for projections. If we think the caregiving industry's inflation will decrease going forward, we're fooling ourselves. Baby boomers are starting to turn 80 this year. The tsunami is here. Learn Medicaid rules in your state https...

LTC insurance claims are hard to get approved because so many claims are not actually long term care. When a claim is declined, the family becomes disgruntled and angry at the insurance company. Usually the problem is what the providers/doctors, facilities are reporting when filing the claim. LTC News reported over $15 billion was paid in claims in 2024. See the details at https://www.ltcnews.com/articles/rising-claims-growing-demand-long-term-care-insurance-key-retirement-plan AHIP (America's Health Insurance Plans) reports over $16 billion paid in 2024 and separates results by states at https://www.ahip.org/resources/long-term-care-insurance-coverage-state-to-state-2025 View current and projected costs of care where you live...

This week, we discuss the costs of dementia care vs. other long term care needs. Too many believe Medicare pays for care after age 65. Medicare may pay for up to 100 days if skilled care is also needed to help recovery from a hospitalization/procedure, and if you've been in the hosptal at least three nights. At age 80, 75% of people with Alzheimer's disease live in nursing homes while 4% of others at age 80 live there. Do you really want to spend down your assets to qualify fro Medicaid and be "put" in a nursing home where 75% of your peers have dementia? Here...

As baby boomers reach age 80 this year, with the immigrant population in the US diminishing, and seeing the almost 80% turnover of employees in home care, assisted living and nursing home care, we are getting ever closer to the Silver Tsunami. Even today, we don't have enough licensed care givers to meet the need of our aging population. That's before we consider the massive need for geriatricians who provide medical treatment for the elderly. Our primary care physicians are reporting they don't feel comfortable diagnosing or addressing patient questions about dementia. And there are not enough specialists to manage this need...

In the U.S., almost 13 million unpaid/family caregivers are caring for someone with dementia right now. Many are doihng this without help or support from other family members. Most family caregivers are women who live with the dementia patient. 1/4 have kids they are also providing for, placing them in the "sandwich generation". 30% of family caregivers are 65 and older, many with health concerns of their own. The Alzheimer's Association has a ton of info and helpful resources https://www.alz.org/ We need to prepare for if and when dementia moves and claims residency in our own homes. And we...

Esther Greenhouse is an environmental gerontologist and longevity strategist who helps people stay independent as they age - physically and financially. As president of Silver to Gold Strategies, she advises financial and long-term care propgrams on reducing preventable caregiving needs and costs. Her Enabling Design Method has shaped national age-friendly initiatives and helped her own mother age in place for 7 extra years, saving an estimated $500,000 to $1.5 million and preserving dignity and choice. Esther lives in Chapel Hill, North Carolina. I learn so much from Esther every time I speak with her and am honored to have her as a colleague...

The Alzheimer's Association released a Special Report that updates dementia and dementia care information. I have on;y read about 1/3 of the info so far, so I expect I'll have a lot more to share over the nexrt several weeks. The industry is getting better at discovering, diagnosing, and managing dementia. I tried to get a link to the report, but I can't find it. The title is "2026 Alzheimer's Disease Facts and Figures". There is a ton of info at the Alzheimer's Association website website https://www.alz.org/ Check out the "About" and 'Research" tabs, and then schedule with...

We need to decide if we're going to make our own care decisions when we can no longer live alone or independantly. Or are we going to leave those decisions to a governement employee who must follow whatever the current government decides is approved for your care. Medicaid is being gutted, so please don't believe that you can rely on that at your most critial time in life. Please check out the links below and then schedule with me to start designing your plan so you can be prepared for whatever tomorrow brings your way. Kaiser Family Foundation 10 things about...

Professionals in geriatrics and gerontology define "elderly" and "advanced age" as 65 and older and those with chronic needs. It's hard to believe I'm almost elderly?!? The fact that there are professional specialties and new Ai tools, websites, apps and software programs focusing on this enormous age group should indicate to us younger than 60 to prepare for those days ahead of us. There are people and tools available to help as we age, and we should never be embarrassed to ask for help when we need it. Here are several helpful links you can use: America Association for LTC Insurance https...

A client with whom I've maintained a relationship for over a decade was almost talked into buying a new LTC plan earlier this year. I'm glad she called me to ask for help! I researched her risk and offered a very similar plan with significantly lower rates. Research is the key to finding the best plans for your family. When you are offered a quote for LTC insurance, ask the person quoting you how many companies they represent and how many LTC applications they submit on average each year. LTC planning is too important to leave to amatures! View current...

Don't let your 50 year old kids regret not having planned for future extended care needs when they first thought of it. A first question I ask when meeting with someone is "What made you decide to look into LTC planning now?" Far too many reply with some form of having thought about this years ago, but for whatever reason they came up with, they decided to wait. Now, the plans we're considering cost a lot more at 70 than they did at 50. Or maybe they can't health qualify for the plan they want. You must encourage your 40, 50 and 60 year old children...

This week, I'm sharing a story of what happened when I was walking my dog on Saturday. This can happen to anyone. We don't have to be old or sick to have an accident. So many people wait to buy LTC insurance because it's for old people, but 1/3 of people receiving care today are under age 65. And we need to be healthy enough to qualify for coverage. If we wait until after an accident, or a diagnosis, or a medicine that insurance companies won't accept, our options narrow or disappear. Also, we need to encourage our older family members to...

According to an AARP report, the Department of Health and Human Services reported a 48% increase in cost for home care and assisted living from 2019-2024, while median household income for families 65 and older rose only 22%. That's an average 8% annual increase! And people doubt when we use 5% annual increases to project future needs.... View a summary of the report here See what current and projected cost of care where you live at https://www.carescout.com/cost-of-care Then schedule with me to learn how you can protect your family, assets and choices here

This week, I received a very disturbing call, and this was soon after I met a man whose job is to protect people (mostly seniors) from scams. I'm so glad that a woman reached out to me for guidance before spending over half of her mom's little bit of savings she needed for her care. Listen and learn, then schedule time with me to prepare for your tomorrow. When we're prepared, we're less likely to be tricked. The 2025 Cost of Care report is available so you can see both 2025 costs and projected costs of care where you live. Check it...

We need to believe that we're going to get through these world events that are being thrown at us every day. We have to believe that we're going to live a long life. When we live a long life, we get old, and when we get old we need help. The massage today is short, and I hope it encourages each of you to continue planning to protect those you care about most. The new 2025 Cost of Care updates were released thjis week and you can see current nd projectewd costs where you live here We're seeing a 13% increase in...

Just like when we go to an all-you-can-eat buffet, our eyes are bigger than our stomach. With LTC protection, bigger than our budget. We want the best policy that will pay for everything we need for as long as we need care, but our income and savings say we can afford something with less coverage. Or we apply as a couple and one is declined for health. Does this mean we don't get any coverage at all? No! It means we get as much as we can afford for the duration of premiums. If half of our expenses are paid...

I get so many calls from families trying to find caregiving support answers for their older parent or relative. They've reached a point where they are overwhelmed and need help providing for their loved one. This is not the time to look for insurance. The choices are limited and have higher costs because at age 75 or 80, we're close to or at the age when the insurance companies think we'll open a claim. That parent should have considered LTC funding options at 50 or 55. But 50 and 55 year olds too often believe we'll be in the same health mentally and physically at 75 or 80...

Many people inquire about LTC insurance and unfortunately get incorrect or incomplete information. This is why it's important to work with a LTC Planning Specialist, like me, who studies this continually. Years ago, there were a lot more companies offering LTC insurance, but all the plans looked and worked very similarly. Today, there are less companies offering this insurance, but these companies are each offering more unique ways to design and fund plans to meet more needs. Listen to these podcast episodes and arm yourself with the questions you need to ask when designing your plan. You deserve to understand...

Providing care for a very sick, injured or elderly family member is hard! Especially without help. There are currently over 50 million family caregivers sacrificing their time, family, health and future to provide that care. LTC insurance is not designed to replace you; it's there to help you be able to help without hurting yourself or getting overwhelmed from doing it alone. Who is going to pay for those 7.8 million licensed care providers as the Baby Boomer generation reaches 80 this year and continues to age? It's either us, our family, or the government. Part of "us" is LTC insurance - so...