Kim Purnell
A Wix Legend Marketplace Agency
CLIENT RESOURCES
Long Term Care - Who Pay for long term care services?
"The probability of needing Long Term Services & Support increases with age. As the U.S. population aged 65 and older continues to increase in size, and individuals continue to live longer post-retirement, the demand for LTSS is expected to increase."
Congressional Research Center Rev. 6/2022
Long term care services are generally funded through a combination of public and private sources. Medicare, Medicaid, and Veterans' Benefits are the most common public sources of funding for long term care. Private sources of funding for long term care services include long term care insurance, personal savings, and investments.
Medicaid is a government program that provides health care to low-income individuals and families.
In 2019, the Medicaid program spent approximately $597 billion in total, with the majority of those funds used to cover medical care for individuals aged 65 and older.
Medicaid spending on long-term care services and supports totaled $114 billion.
Retirement planning should include considerations for the potential costs of long term care and how those costs could be covered. It is important to plan ahead for long term care needs to ensure that you will have the necessary funds to cover these costs.
Consulting a long term care specialist can help you develop a plan that will help you prepare for the potential costs of long term care. Download this guide today or give us a call, you'll be glad you did.
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Florida
A000000
[Mobile Phone]
321-327-9049
Insurance & Retirement Planning Specialist
Kim Purnell
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Adaptive Marketing Group, LLC
898 Glendale Ave Palm Bay, FL 32907
Florida
A000000
[Mobile Phone]
321-327-9049
Insurance & Retirement Planning Specialist
Kim Purnell
FINRA, or the **Financial Industry Regulatory Authority**, is a self-regulatory organization that oversees the brokerage industry. FINRA has rules and guidance on disclosure in advertising and other communications with the public ?.
FINRA encourages members to be precise and succinct in their explanations and disclosures. Members often include in their communications disclosures that are not required by the rules, and FINRA does not object to additional explanations or information beyond what is required for rule compliance ?.
You can learn more about FINRA's rules and guidance on disclosure from their website ?.
Source: Conversation with Bing, 6/28/2023
(1) Regulatory Notice 19-31 | FINRA.org. https://www.finra.org/rules-guidance/notices/19-31.
(2) Advertising Regulation | FINRA.org. https://www.finra.org/rules-guidance/key-topics/advertising-regulation.
(3) Disclosure Report Cards | FINRA.org. https://www.finra.org/compliance-tools/report-center/disclosure.