“Start planning now to care for elderly parents”

“Start planning now to care for elderly parents,” by Chris Taylor, Reuters

“Experts agree that it is important to start thinking about caregiving costs now. Waiting too long means you cannot stockpile resources, take out affordable insurance policies or plan ahead for a thoughtful drawdown of assets.”

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):

OK, but the advice this column offers, specifically look to home equity, plan for Medicaid and buy LTC insurance are logically contradictory. People don’t use home equity to fund quality LTC, because Medicaid exempts it, thus savaging demand for LTC insurance. LTC financing will continue to suffer until those problems are fixed.

Start planning now to care for elderly parents