This week, we're discussing worksite/group LTC plans, which have evolved a lot since group plans started being offered through employers.

Jason Dutra with BuddyIns shares how they are committed to helping the 50+ million family caregivers in the U.S. today.

He shares how today's worksite offerings differ from those offered in previous decades, including guaranteed premiums that never change. This was a big concern with past plans and has now been resolved.

We discuss how worksite plans help both employers and employees prepare for tomorrow's industry and family needs.

We also discuss why someone can benefit from having both a worksite and an individual plan.

Listen and schedule some time with me here to plan for yourself.

Schedule a 15 minute meeting here to see if a worksite solution can bring value to your company.

View both current and projected future costs of care where you live here and be sure to use a 5% cost of living/inflation factor as that's what we've witnessed over the last three decades.

So many people want a long term care plan with all the bells and whistles. They want a plan that will pay for everything that could ever happen. These plans are often priced higher than a budget allows.

Why do people state that they want no coverage if they can't get the best plan out there?

We don't do this anywhere but with LTC insurance.

Do we not own a car because we can't afford a Tesla? No.

Do we not eat because we can't afford the steak? No.

When I work wit you, we work together to determine how much risk is both acceptable and affordable.

There are plans offered to people on a stricter budget. There are plans that accept medical concerns that other plans don't accept. There are plans offered to age 89 in some states.

Listen and then scheudle some time to work through this together here

This week, Diane uses the Parable of the Sower to share different reactions to LTC planning that occur in the United States.

Are you the hard soil? The rocky soil? The thorny soil? The fertile soil?

After listening, you can schedule a phone or zoom meeting with me to start planning to prepare for your family's tomorrow here

Many have been advised by a financial planner, estate planning attorney or other professional that they have enough assets to "self-insure" future LTC needs.

The question is not "can I afford it?" but "Is this the best use of assets to fund future care needs?"

This episode is full of questions you should be asking yourself and your advisors if they tell you you can afford to self-fund.

Listen and schedule some time with me to consider the risk and search for the most cost-efficient ways to pay for extended care here

View current and projected costs of care where you live here

Learn what your state Medicaid system lets you keep here

This week, I'm sharing what I learned about public LTC funding in Germany and how it's managed. Their national/local public funding initiative is alreaday underfunded by taxes, and the aging population there is expected to increase by 37% over the next 30 years.

This is miniscule as compared to our aging population in the U.S.

We need to learn from our past mistakes as well as from what other countries are attempting in this arena.

Thank you to the Center for LTC Reform for their articles https://www.dw.com/en/german-nursing-homes-see-cost-for-care-explode/a-73501150 and https://centerltc.com/bullets/archives2003/469.htm

And please schedule some time to Prepare for Your Tomorrow today here

This is an episode from 2020 when I interviewed my travel advisor about COVID or other family health issues interrupting travel plans. He created the best 25th anniversary trip to Europe we could have imagined!

Contact him at c.palogruto@cruiseplanners.com to create your most memorable vacation

We find differences in planning for vacations and planning for our LTC needs. We learn from Carmen Palogruto with Cruise Planners that there are tools available to change travel plans for medical and other reasons. A LTC event cannot be postponed until convenient or affordable. It happens when it happens, and we need to be prepared for that tomorrow.

This week, we're describing who may consider different types of LTC planning strategies and why.

Stand-alone/traditional LTC vs. Hybrid Life/LTC vs. Hybrid Annuity/LTC.

All provide tax-free benefits for extended care needs.

Thank you to https://buddyins.com/ team for creating easy to understand documents that agents can share with their clients.

Listen and consider which category of coverage can fit your needs and financial structure best and let's talk.

Schedule a free consultation to learn more here

In our third week with our couple in their 80s, we consider options to obtain the most LTC benefits from annuities.

If you already own annuities, check for a Chronic Illness rider or LTC rider. If there is one, read it carefully as different rules apply to access enhanced benefits for care. If you need help understanding your rider, ask me for guidance here

Some pay the LTC benefits tax-free and some don't.

Some require your need to be permanent, some don't.

Some will enhance benefits for both cognitive and physical needs, and some don't.

If you own an annuity (non-IRA) with a good amount of earnings, it can be repositioned to an annuity that can pay potentially three times the account value of the annuity, or more, tax-free when used for care. This eliminates all the taxable gains your current annuity has earned over the years.

If your annuity IS your LTC plan, there are wiser ways to use it than simply withdrawing the earnings and paying taxes on the gains.

Schedule with me to learn more here