The U.S. Administration on Aging projects that 70% of Americans currently age 65 will need some form of long-term care in the future, be it at-home care, assisted living, or a nursing home. The average stay in long-term care is…
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The article below appeared originally in The New York Times. It explains why long-term care planning is essential for middle-class Americans. The Karp Law Firm has been assisting clients and their families to meet this challenge for over 25 years,…
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Long-term care insurance was introduced in the 1980s to solve a growing problem for the middle class: How to shoulder the staggering cost of long-term care. If you were not poor enough to qualify for government programs and not wealthy…
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Good news if you have a long-term care insurance policy or are considering purchasing one: The IRS has announced higher deductions for long-term care premiums in 2023. There are some strings attached, though. First, to be deductible, your medical expenses,…
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The American Association for Long-Term Care Insurance reports that as of January 1, 2020, 7.5 million Americans have some form of long-term care insurance. If you are thinking about purchasing a long-term care insurance policy, you should take into consideration…
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The values of the Baby Boom generation seem to have have changed over the years. Once it was all about flower power. Now the focus includes financial power – specifically, leaving a financial legacy. A March 25, 2019 Financial Advisor…
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Genworth Financial has released its 2017 survey of long-term care costs. The picture is not encouraging. Although the cost of care has always been shockingly expensive, and increased annually without fail, the rate of increase seems to be picking up….
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Suppose you could find out if you have a greater-than-average chance of developing Alzheimer’s Disease. Would you want to know? What would you do with this information? A genetic secret? One of the genetic secrets revealed in recent years is…
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Thousands of people across the nation hold long-term care policies from Penn Treaty Insurance Company. The company and its American Network Insurance subsidiary have been in dire financial straits since at least 2001. With the company short the $4 billion…
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In Florida, the average annual cost of a private room at a long-term nursing facility now hovers upwards of $90,000 annually, with a semi-private room around $83,000. With the oldest Baby Boomers turning 70 and the escalating incidence of chronic…
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