Blog

Nearly half of the United States adult population is single. This represents a significant shift in the way that people age, especially in terms of how people receive and seek out healthcare. After all, long term care needs will be starkly different for those who are single

From Gordon Associates – we are pleased to post this guest blog from Jose Rodriguez with Team Hochberg / Homeside Financial This blog covers an important topic we’re hearing more and more about. We hope you find it valuable.   The average pre-retiree and retiree in the

From Gordon Associates – we are pleased to post this guest blog from Lauren Lorensen with Legends Home Therapy. This blog covers an important topic we’re hearing more and more about. We hope you find it valuable. When it comes to rehabilitation and physical therapy, the environment

Technology is a critical and inseparable part of healthcare. That’s also true for long term care, where technology is making it easier for individuals to stay independent and stay connected to loved ones. As a result, technology in Long Term Care Insurance (LTCI) is also moving forward,

Long Term Care Insurance (LTCI)  is available to everyone throughout the United States, regardless of sex, gender, or sexual orientation. That’s certainly true for members of the LGBTQ+ community. Long Term Care Insurance for LGBTQ+ seniors works the same way and offers the same protections as it

From Gordon Associates – we are pleased to post this guest blog from Nadya Northrop with PharmD Insight, a consulting agency serving Chicago and the surrounding suburbs. This blog covers an important topic we’re hearing more and more about. We hope you find it valuable. It is

Imagine that insurance is like a motorcycle. An insurance rider, then, is kind of like that side-car you can attach to that motorcycle (usually used to carry passengers or luggage). Put in a more straightforward way, an insurance “rider” is an additional (or optional) feature that is

Dementia is a progressive, chronic disease that primarily impacts the brain. Most people have heard of dementia (or Alzheimer’s, a specific form of dementia). Unfortunately, dementia is not always the most pleasant topic of conversation–so people tend to avoid talking about it. That can be a problem,

Even the best Long Term Care Insurance policy won’t help you if you don’t let it. Unfortunately, policyholders are sometimes their own worst enemies, making understandable errors that undermine their benefits. Often, these mistakes can be avoided with a little foresight–and it’s yet another good reason to

This is a guest post from a trusted resource of ours, Betsy Phillips, Realtor® SRES, CSHP. Betsy is a Senior Real Estate Specialist (SRES). Betsy is with Compass Realty and is based in Glenview, IL. The opinions expressed in this post are Betsy’s alone. We had no input

It’s hard enough to get people to sit down and plan for their retirement. It’s understandable, then, that the last thing financial planners want to do is talk about long term care planning. But that’s unfortunate. Long Term Care Insurance (LTCI) is a powerful tool, and it

Do you really need a Long Term Care Insurance specialist? After all, you get your auto insurance and homeowner’s insurance through a kind of one-stop shop insurance broker. (Sometimes you even get a bundle deal for getting all your insurance in one place.) Isn’t the logical place

According to researchers, something like 70% of Americans age 65 and older will require long term care at some point. Which means that the chances of needing long term care at some point in your life are quite high. But it probably doesn’t feel that way when

Your health is unique. And that remains true as you age. As a result, long term care is highly individualized, both in terms of the care you need and when you need it. Long term care can quickly become complex–and so too can the Long Term Care

Estate planning usually isn’t a favorite topic of conversation. But thinking about the future–and especially what that future might look like as you age–is critically important to ensuring that your end of life and legacy wishes are respected. Making Long Term Care Insurance (LTCI) part of those

When you mention the phrase “employee benefits,” most people think of the standard offerings: vacation, health insurance, sick days–that kind of thing. But lately, more and more firms have started to offer Long Term Care Insurance (LTCI) as an employee benefit.  It’s a smart move. LTCI can

As you age, retirement is a concept that moves from very fuzzy and nebulous to concrete and practical–slowly, at first, but then in a big hurry. As your future comes into focus, it’s important to consider the best ways to pay for–and protect–your retirement. Long Term Care

Everyone’s talking about inflation here in 2022. From food prices to energy costs, you’re not alone if your budget doesn’t stretch quite as far as it used to. Knowing how to cope with inflation in long term care costs can help protect your future and stretch your

Hybrid Long Term Care Insurance policies are a consistently popular and exciting product. But as with any type of long term care insurance, it’s worth unpacking the details at the same time you’re inspecting the intriguing and appealing benefits. To be sure, hybrid LTCI offers some substantial

As your adult children continue to age, it’s easy to become more aware of the passage of time. Even when they start having kids of their own, it’s hard not to see them as the baby you welcomed to the world. So, you never stop parenting. You

You might think there’s nothing new in traditional Long Term Care Insurance (LTCI). After all, LTCI as a concept has been around since the 1960s. So, you might be surprised to learn that there are probably a few updates and changes you might not be aware of. 

Long Term Care Insurance (LTCI) is designed to provide peace of mind and financial stability. So, on a fundamental level, it makes sense that state and local governments would have an interest in providing LTCI. But the new Washington State LTCI Mandate is raising some interesting questions. 

When it comes to insurance of any kind, it’s important to know what’s covered and what’s not. That can be especially true when it comes to Long Term Care Insurance. The more you know up front, the better prepared you can be. So it’s important to know

We typically think of inflation as something that’s slow and steady–and, therefore, easy to plan around. That’s not the case with long term care costs. Over the last twenty years, long term care costs have risen at a rate faster than some income sources have kept up

When you own a Stand-Alone “Traditional” Long Term Care Insurance policy, it’s important to understand when to consider making changes to the policy. There are benefits and/or consequences that may affect your premium. Therefore, it’s a good idea to educate yourself on how to recognize an Unsolicited

Over 70% of all seniors will need long term care during their lifetime. Knowing what your Long Term Care Insurance (LTCI) benefit triggers are and how they apply can help you and your family plan for the future.  You probably don’t think in terms of incidental activities

Most people are adamant they never want to become a burden on their spouse or family.  Open communication and sound financial planning are key ingredients to navigating a lasting relationship with an eye to the future—in sickness and in health.  That includes making contingency plans for potential

After you purchase a Long Term Care Insurance (LTCI) policy to help protect yourself, your family and retirement nest egg, you’ll want to follow a few simple steps to help keep yourself organized and keep your family updated! Share Contact Information Make sure you give your Long

From Gordon Associates – we are pleased to post this guest blog from Home Care Assistance, a caregiving agency serving Chicago and the surrounding suburbs. This blog covers an important topic we’re hearing more and more about. We hope you find it valuable. Watching a parent, family

From Gordon Associates – we are pleased to post this guest blog from Senior Living Experts. We have referred many clients to them for help finding resources for senior citizens, and we have always been happy with their results. Even though they are based in the Chicagoland

After you decide to purchase a Long Term Care Insurance (LTCI) policy and protect you, your family and your retirement nest egg, you will be ready to proceed with the application process. Underwriting guides and standards are getting more restrictive and as a result, the underwriting portion

Upon qualification, Long Term Care Insurance (LTCI) should be considered an important part of a financial plan. LTCI can be thought of as guaranteed income and factored into asset allocation strategies to help provide asset protection, just like any other predictable income stream. After all, Long Term

Long Term Care costs can be very expensive for someone who has a major health problem and needs help with Activities of Daily Living (ADL) – bathing, dressing, toileting, transferring, continence and eating. Health insurance and Medicare do not cover this type of chronic care. Often the

If you have a Traditional IRA and/or a Beneficiary IRA, chances are you have plans for the assets. Oftentimes those assets are earmarked to help fund retirement and family legacy. However, an unexpected long term care event can wreck those plans if one is completely self-funding it.  

We know it is common for older adults to experience a fall at some point. Unfortunately, it is often unexpected and most families do not have a plan in place when an accident happens. Healthcare providers who work in the aging industry are typically well prepared to

In September 2020, Brian Gordon guested on the Personal Financial Planning Section Podcast to discuss a range of issues about Long Term Care Insurance and Long Term Care Planning. This is part 2.

In September 2020, Brian Gordon guested on the Personal Financial Planning Section podcast to discuss a range of issues about Long Term Care Insurance and Long Term Care Planning. This is part 1.

Investing in Long Term Care Insurance (LTCI) is a smart way to protect your assets and your family from the potential high cost of experiencing a long term care event. When it comes time to submitting a claim, you will want it to be seamless to help

Many baby boomers are now responsible for managing care for an aging parent during the COVID-19 pandemic. While you adjust your own personal life and navigate through this challenging time, there is also a lot to consider when consulting an elderly parent. Often times, they may face

With many clients re-evaluating asset and investment strategies due to unforeseen challenges in 2020, financial planning is now top of mind. Moreover, financial planning for Long Term Care should be considered an essential part of a retirement portfolio.  According to the US Department of Health & Human

Long Term Care Insurance (LTCI) and a Continuing Care Retirement Community (CCRC) both appeal to the same type of people: people who want to plan for their future and don’t want to leave things to chance. LTCI and CCRCs address the likely future need for long term

Before you can begin collecting benefits under your long term care insurance policy, you must meet your LTCI elimination period, or waiting period. However, because you’re in need of assistance, you’ll need some long term care in the interim—and you’ll need to pay for it out-of-pocket. The

A surprising number of seniors still believe that Medicare will cover all their long term care expenses, according to a study by AARP. But here’s the reality: Medicare offers limited-time long term care coverage that applies only to skilled nursing care. Long term care insurance (LTCI), on the

While many believe Medicare covers long term care expenses, the reality is, Medicare does not. Medicare offers limited, short-term skilled nursing care coverage. Furthermore, in order to qualify, you must meet specific hospitalization requirements. Many Medicare beneficiaries are hazy on the subject of hospital observation vs. admission

When it comes to Long Term Care Insurance, one question we are often asked is “at what age is it best to apply for LTCI?” Many clients wonder if they’re “too young” or “too old” to obtain coverage and there are two schools of thought on this.

Because of the nature of long term care insurance (LTCI), decades may pass between the time a client’s LTCI policy is issued and the time he or she files a claim. However, once LTCI benefits are needed, chances are, they’re needed ASAP. Unfortunately, filing a LTCI claim

3 Key Facts to Know about Long Term Care Insurance While many people think they know what Long Term Care Insurance (LTCI) is, there are many misconceptions out there. Here, we tackle three key facts to gaining a clearer understanding of LTCI. Fact #1: Medicare Isn’t the

You’ve heard about Long Term Care Insurance (LTCI), but do you really know what it is, not to mention if you need it? Here’s a brief intro to Long Term Care Insurance to help you get started. LTCI reimburses policyholders a fixed daily or monthly amount when

A rising number of nursing homes are pursuing the adult children of patients for their parents’ unpaid bills. It’s called filial support litigation, and it’s a growing trend among long term care providers. Thanks to something called filial responsibility laws, the providers often prevail. More than half

Anyone who has filed insurance claims before—whether for home, auto, or health coverage—knows that the process doesn’t always unfold smoothly. So if you are helping someone who has, or may have, a long term care insurance (LTCI) claim, the first thing to do is contact his or

The 2-Minute Introduction to Long Term Care Insurance You’ve heard about Long Term Care Insurance (LTCI), but do you really know what it is, not to mention if you need it? LTCI reimburses policyholders a fixed daily or monthly amount when they require assistance with two of

Long Term Care Insurance: 7 Common Questions Answered Once people start to learn about Long Term Care Insurance (LTCI), they often have questions. Here, we answer those we hear most often. What is the underwriting process for LTCI? Whether you’re considering a traditional or asset-based LTC plan,