2022 was a tumultuous year. Amid a continuing pandemic, tense midterm elections, and a war in Ukraine, we have grappled with more than our fair share of grim news. However, with 2023 in motion, there are some silver linings — in particular for seniors.
As the coronavirus spreads across the United States, nursing home residents are among the most vulnerable to the disease. How do you try to ensure that your loved one stays healthy?
Read moreAs baby boomers age, more and more millennials are becoming caregivers. Many are taking on this role while just getting started in their own lives, leading to difficult decisions about priorities. Proper planning can help them navigate this terrain.
Read moreThe Internal Revenue Service (IRS) has announced the amount taxpayers can deduct from their 2020 income as a result of buying long-term care insurance.
Premiums for “qualified” long-term care insurance policies (see explanation below) are tax deductible to the extent that they, along with other unreimbursed medical expenses (including Medicare premiums), exceed 10 percent of the insured’s adjusted gross income.
Read moreIt is a very good idea to create advance directives in order to plan for the possibility that you may one day be unable to make your own medical decisions. In doing so, there can be confusion about the difference between a living will and a “do-not-resuscitate” order (DNR). While both these documents are advance medical directives, they serve different purposes.
The median cost of a private nursing home room in the United States increased to $100,375 a year in 2018, up 3 percent from 2017, according to Genworth’s Cost of Care survey, which the insurer conducts annually.
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Each week iHeartMedia radio station, WGY, invites local experts to share their knowledge on a range of topics. Recently, they invited attorney Lou Pierro to share his biggest tips on Estate Planning.
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The median cost of a private nursing home room in the United States has increased to $97,455 a year, up 5.5 percent from 2016, according to Genworth’s 2017 Cost of Care survey, which the insurer conducts annually. Genworth reports that the median cost of a semi-private room in a nursing home is $85,775, up 4.44 percent from 2016. The rise in prices is much larger than the 1.24 percent and 2.27 percent gains, respectively, in 2016.
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With the school year back in full swing, it’s the perfect time for grown-ups to get a lesson or two in smart retirement planning. Maybe your children are off to college and you’re trying to care for parents, work full time – and plan for the future? Or, perhaps you’ve been concerned about preserving assets so you can pay for long-term care in these financially rocky times. If these scenarios sound familiar, you’ll want to listen to a Life Happens Radio podcast.
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