gio’s WeBlog

Just a quick note for you today. I’ve been recently looking into long-term Care insurance for individuals for a friend and have learned quite a lot. It turns out, many financial advisors these days are recommending the concept of what is know in the industry as LTC Insurance. Educating yourself on LTCI is a good idea, especially since most people falsely believe that LTC insurance is paid for by Medicaid. Only if almost all assets have been drawn down does the government step in. In fact, to qualify for aid from Medicaid, one must have only $2,000 to their name. Usually the house is exempt, but it will be used as collateral on any Medicaid expenses. Just want everyone to be sure they understand how LTC works. Women should especially take a look at their options since they tend to outlive their husbands.