Case #
1: Donald
Bloss and his wife, Mary Ann, figured
they were all set for their golden
years. Although they did not own a
home, he had sufficient cash in the
bank, several CDs and a host of blue
chip stocks. He and his wife, both
having worked all their lives, were
drawing decent Social Security, and
Medicare took care of nearly all
medical bills. What he hadn't figured,
however, ruined their well-laid plans.
Mary Ann after a debilitating stroke
had to enter a nursing home. But this
time, Medicare was of no help at all
and Medicaid asked them to exhaust
their savings - well, nearly all of
them - before it would consider them
for nursing home assistance.
Don and Mary Ann didn't know that they
could have protected their life
savings, perfectly legally, only by
slightly rearranging their finances
and assets. They simply , got
blindsided by some complex rules
written by our folks in Washington,
D.C.
Case #
2: Hilda
Sawyer had gone even a step further in
her planning. She knew, through her
friends' experiences, how expensive
nursing home care could become. So she
had bought a long-term insurance
policy from a well-known company
expecting it to pay nursing home
bills, if ever the need arose. Well,
it did but the insurance company would
not pay, citing an obscure loophole in
the policy. This came as a total
shock, and all her planning was for
nothing.
Case #
3: John
St. Clair's story, however, ended
differently. He knew about Medi- care,
Part A and Part B, for which he had
signed up as soon as he had become
eligible. He knew that Medicare was
not panacea for all his needs. Sure,
there are gaps in coverage for doctors
and medical supplies, inpatient
hospitalization and home health
nursing. But that's exactly why he had
purchased a Medigap policy, choosing
carefully one of the ten
state-approved plans.
He even had looked into various
nursing homes because there existed a
real possibility that his wife may
have to be put up in a nursing home,
as she was showing early signs of
Alzheimer's disease. He had carefully
investigated various long- term care
insurance plans, and after checking
with the state insurance commissioner
purchased a policy that made sense.
But above all, he had arranged his
finances so that his wife would become
eligible for nursing home assistance
almost immediately. He knew what were
'countable' assets and which were
'exempt' assets; he knew the latest
twists and Turns in the Medicaid
rules. He didn't go to some
high-priced attorney for this, for he
didn't have the kind of money the
attorney wanted. He had all
the, help he needed; all he wanted to
do was protect his nest egg that they
had built up just for those years when
everything has to be budgeted. He
wanted to be sure that his wife was
being well cared for in a nursing home
and that he had enough money left to
take care of himself at home.
Asset
protection from long term
nursing home
care costs. Compare
and review abuse, neglect, and
negligence as defined by
attorneys and lawyers in Minnesota, New
Jersey, Texas, Florida, Michigan
and Illinois
and other States in the Insurance
Regulation
and Information
Directory.
There's nothing far-fetched about
these cases. These scenarios are being
played out in thousands of homes all
across America as the elder citizens
grapple with the awesome burden of
medical care, just when they need it
the most and seem the least capable of
getting it.
America is getting older. The group
over age 85 is now the fastest-growing
segment of the population. The golden
years, however, are not without their
problems. Forty-three percent of those
who turned age 65 in 2004 will enter a
nursing home at some time during their
life. Since women generally outlive
men by several years, they face a 50
percent greater likelihood than men of
entering a home after age 65.
Nursing Home
Costs Can Wipe You Out. How much
does a nursing home cost? Plenty. As a
national average, a year in a nursing
home now costs $70,080, and in some places as much as
$204,765.
Who pays for your nursing home stay?
In nearly half the cases, the answer
is you. It is not uncommon for a
person who is forced to enter a
nursing home to spend their entire
life savings on nursing home care
within the span of only a few months.
Half of all couples with one spouse in
a nursing home lose their life savings
within only one year. It is tragic to
see these people work hard all through
the years, building a nest egg for
their golden years, only to have
everything taken away by a nursing
home. There is absolutely nothing left
to show for their years of earnest
labor.
Many people are under the mistaken
notion that Medicare would step in and
pick up their nursing home bills.
They'll be shocked to find out that
Medicare pays only about 2 percent of
nursing home bills with individuals
picking up nearly half the tab.
Medicaid would come to the rescue if
you're at least 65, blind or disabled
and meet certain income and asset
limitations. And therein lies the rub.
In most cases, you'll be required to
turn over most of your life savings to
the nursing home before Medicaid will
pay a cent.
But this need not be so. Medicaid
rules are fairly complex, but if you
know them and arrange your finances
accordingly, you might be able to keep
your nest egg and still qualify for
nursing home assistance.
Protect
your Assets from the Catastrophic
Costs of Nursing Home Care does just
what the title suggests.
- Federal
Spousal Impoverishment Act - how
the spouse at home can protect his
assets while the other spouse is
in a nursing home.
- What is
the best time to obtain a
resources assessment?
- How you
can transfer assets without being
penalized. Beware of the 1993 tax
law change which has sprang
another trap for the unwary.
- Medicaid
trusts - are they what they are
touted to be? Again, watch out for
the restrictions imposed by the
new law.
- What are
permissible transfers?
- Cornerstone
of your strategy: Convert
non-exempt assets into exempt
assets.
- Four
strategies to maximize the exempt
value of your home.
- Transferring
assets to your spouse after
entering a nursing home.
- Little-known,
but highly effective, strategy:
Buy an annuity.
- Four
additional strategies to protect
your assets recommended by
experts.
You see, there's nothing illegal or
immoral about arranging your financial
affairs in a way as to maximize your
benefits allowed under the law. In
fact, this is fully sanctioned by the
law. The trick is doing the right
thing at the right time.
This
highly-acclaimed book gives you all
the ins and outs. You'll know exactly
what to do.
Few
attorneys know enough about this
subject to advise their clients, and
many would charge you a bundle for
what little they'll tell you.
.
Bonus:
Medicare,
Insurance, Living Will, DPA.
This book isn't only about protecting
your assets from nursing home care. In
this book we also tell you all about
Medicare, knowing your benefits and
rights, and also knowing the vital
gaps in the coverage. Is Medigap
insurance for you? How to choose the
right plan?
Long term care insurance - is it for
you? How to tell a good policy from
one riddled with loopholes. Factors to
evaluate while shopping for a
long-term care policy. Also, a
checklist for selecting a nursing
home. Your rights as a resident.
We go
one step further and give you two
basic tools - most critical in your
nursing home, old-age planning but
little understood and less-frequently
employed: living will and durable
power of attorney.
Unless you have armed yourself with
this vital information, it's quite
possible that your life's savings,
what you had worked so hard for, would
go to pay nursing home bills, leaving
you and your spouse destitute.
Asset
protection from long term
nursing home
care costs. Compare
and review abuse, neglect, and
negligence as defined by
attorneys and lawyers in Minnesota, New
Jersey, Texas, Florida, Michigan
and Illinois
and other States in the Insurance
Regulation
and Information
Directory.
Satisfaction
Guaranteed.
In this
remarkable book you'll find a wealth
of information for your retirement
years all under one cover, and it
comes with complete one-year
money-back guarantee. If you find for
any reason that the book isn't
everything you expected, simply return
it at any time within one full year
for a full refund. No questions asked.
But I also guarantee that if you
implement even one strategy, learn one
bit of information about protecting
your assets, you would have saved for
yourself thousands of dollars.
So act now while you're
thinking about it. As I've said
before, timing is of critical
importance in all planning, especially
nursing home planning. Once you have
lost that opportunity, it's often too
late.
Sincerely,
Richard
Graham
P.S. Let me share something about this
book. We publish several legal,
financial and tax books, and I can
easily say that this Nursing Home Care
book is one of the most popular books.
Maybe because it's a subject so close
to everyone's heart, maybe because it
answers many concerns about security
and well-being when we're at our most
vulnerable point in life. I urge you
to decide this for yourself.
One-Year
Money-Back Guarantee
You risk nothing by ordering your
kit(s) today. Take up to one
year to examine your kit(s)
in the privacy of your own home. If
not completely satisfied, simply
return the materials at any time
within one year for a prompt refund.
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