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Our Caregiver's e-Mall is filling up with great stores and a growing number of items just in time for the holidays. Whether you browse and find a book or tape to help you with caregiving, or come across a wonderful gift for a friend or family member, the e-Mall can be your source for easy shopping and gift-giving.

So, click on the dark blue Caregiver's e-Mall buttons throughout our site and enter a comfortable, secure shopping experience with major merchants while avoiding the hassle of having to find a parking place or matching your shopping hours with someone else's. Our mall is just a click away and is open 24 hours every day.

Watch for additional stores opening in the e-Mall soon!


posted: November 29, 2004

Timely Tips

Timely Tip: Long-Term Care Insurance

Long-term care insurance may be the right approach to long-term asset protection for those who are now in good health and are reluctant to either give away assets or commit to an irrevocable trust.

If nursing home care is required, the three or four years of benefits under the long-term care policy cover the nursing home bill while the policyholders divest themselves of assets and wait out the Medicaid "penalty period" that results.

For those who can avoid a nursing home but need assistance to stay at home, long-term care insurance can be especially helpful. Medicaid can be sought for home care, but the financial eligibility requirements force individuals to reduce their liquid assets to the poverty level. In addition, any monthly income beyond approximately $600 to $700 per month must be used for the home care, and Medicaid picks up only the rest of the expense. An individual on home Medicaid may retain a home or cooperative apartment, but that asset is subject to a claim by Medicaid for reimbursement after death.

Home care typically costs less per day than nursing home care, and thus the benefits of the long-term care policy may be spread out over a longer period such as five or more years.

The costs of long-term care insurance vary depending on the size of the potential daily benefit chosen and some other options such as inflation protection, but individuals in their early 60s can expect a yearly premium in the range of $2,000 to $2,500. A husband and wife who purchase the coverage can usually obtain a discount on their basic premiums. One attractive feature for some couples is the option to have any unused coverage on the husband's policy pass to his wife after his death, or vice versa.

-- Howard F. Angione

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