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The Long-Term Care Crisis in America

Long-Term Care is a real and present problem that retired and soon to retire individuals, and their families face today.

The need for long-term care robs you and your family of your assets, leaving you pen­niless and your heirs with nothing more than a final bill from the assisted living or nursing facility.

Long-term care takes away your dignity, independence, and pride in your retirement years. The need for Long Term Care will cause your spouses to be left with little money to continue a comfort­able lifestyle and will take your children’s inheritance from them too. This is a needless family tragedy, one that can be avoided!

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What is ALTCS? 

ALTCS is Arizona’s Medicaid Long-Term Care System.   It is a financial safety net for the impoverished.
Keep in mind ALTCS is also for those that are wise. Those who are wise enough to plan ahead.  Can preserve assets for future care, a spouse, or a loved one.

Click here for more ALTCS Info. 

 

ALTCS / Medicaid Planning

What is successful ALTCS – Medicaid Planning?  There are two types of planning done; these are Pre-planning and Crisis Planning.

Pre-planning is done several years in advance of needing long-term care, whereas crisis planning is done when some suddenly find themselves in need of long-term care.

Who should consider pre-planning for long-term care?  I suppose I could say, everyone.  Yet, what surprises me the most is this in 2020, only 7 percent of the US population owned long-term care insurance.  Down from 12% in 2015, either way, a meager percentage.

As I work with a family member in a crisis with a loved one, I often would say, “Once we get your mom or dad settled and approved for either ALTCS benefits or Veterans Pension or Both, I would like to talk to you about your long-term care.”

I provide them with a long-term care insurance quote and some alternative long-term care insurance products information, like annuities that take advantage of the Pension Protection Act and life insurance policies that have long-term care insurance as part of the benefits,

Later, I would contact them about these plans; with rare exceptions, they don’t no return calls, complete silence.  Being busy helping others, I move on, leaving them for the same fate as their family member with a  Long Term care Crisis in the future.

See Planning Strategies and ways to avoid a long-term care crisis here.

Crisis Planning.

What is Crisis Planning?

ALTCS / Medicaid Crisis planning definition.  ALTCS / Medicaid Crisis planning uses legal strategies under Title XIX and state-specific ALTCS – Medicaid rules to convert countable assets into non-countable assets to qualify for ALTCS / Medicaid Long-Term Care benefits.

The key to successful ALTCS (pronounced All-Tex) / Medicaid crisis planning is to begin as soon as the need for Care or potential need for care becomes apparent. The sooner planning begins, the more opportunities exist to obtain maximum asset preservation.

Keep in mind that the rules regarding ALTCS / Medicaid eligibility are complex and ever-changing; timing is crucial in the planning process.  ALTCS /  Medicaid caseworkers are specifically instructed not to provide assistance beyond completion of the ALTCS / Medicaid application. This is why it’s essential to only work with a Certified Medicaid Planner, CMP. A CMP understands the rules and can ensure a successful outcome of a plan.

Gifting to qualify for ALTCS, isn’t illegal!

“The Three M’s to Pension Qualification”

Who can help a Veteran with a claim?

Arizona Care Alliance

arizonacarealliance.org
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