“How to Hire In-Home Help,” by Donna Rosato, Consumer Reports “Most people who need long-term care rely on family for assistance, but about one-third get help from paid caregivers. Finding and managing outside help can be stressful and time-consuming. You need someone reliable and trustworthy with the right skills. But you also want someone your loved one will be comfortable with. . . . You’ll pay a higher rate if you need help during evenings, holidays, or weekends. Hiring an aide, such as a nurse or certified nursing assistant, who can provide a higher level of care (changing a catheter,
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“Genworth Survey: Consumers’ greatest fear about aging is not having enough money to pay for long term care, but few plan ahead,” Genworth Financial “Not having enough money to pay for care is the greatest fear adults have about aging and their long term care needs, according to a recent consumer survey by Genworth, but only one in five have taken any action toward financing their long term care expenses. Furthermore, only half of the respondents said they plan to take personal financial responsibility for their own care as they age. The others said they would leave that worry to
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“Medicaid Annuities Help Protect Savings: A tactic to prevent unexpected nursing home care from evaporating the family nest egg,” by Eleanor Laise, Kiplinger Personal Finance “Picture this: Your spouse has made a permanent move to a nursing home. You don’t have long-term-care insurance, Medicare won’t cover the cost, and you have too much money to qualify for Medicaid—but not nearly enough to afford the nursing-home bills. The monthly tab—easily $5,000 to $8,000 for a semi-private room—is rapidly depleting your nest egg. Now what? This is where a Medicaid-compliant annuity might rescue your retirement. You buy an immediate annuity—owned by and
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