Thelongtermcareguy.com
Home of The Long Term Care Insurance Guy (Romeo Raabe)
WEBIn the past 20 years the cost of LTC services has been increasing at a rate of 5% to 6% annually. A shortage of workers in the LTC industry make it necessary to increase wages to fill jobs which is accelerating cost of care increases. The longer someone waits to apply for long term care insurance, the more is needed and the more it will cost.
Actived: 1 days ago
FREE LTCi Calculator
WEBThis is your current estimated cost of long term care. According to the Genworth Financial 2017 Cost of Care Survey, the estimated median annual cost for a nursing home stay was $85,776 per year for a semi-private room. This is about $235 per day. The cost for a private room was $97,452 or $267 per day. Assisted living at home can cost more
Tax Treatment of LTCi Reimbursement Model
WEBSandy purchases a Reimbursement Long-Term Care Insurance Policy with coverage of $150 per day. Sandy later needs Home Health Care services and the cost is $80 per day. Sandy's Reimbursement insurance coverage would reimburse her for her expenses and as a result she would receive $80 per day of qualifying services. The remaining $70 ($150 …
Indemnity Model LTCi Policies
WEBIndemnity Example 2. Len purchases an Indemnity Long-Term Care Insurance Policy with coverage of $150 per day. Len later needs Home Health Care services and the cost is $200 per day. Len's Indemnity insurance coverage would pay him $150 per day of service even though his expenses are $200. Len would be financially responsible for the extra $50.
Sole Proprietor Tax Deductions for LTCi
WEBSole Proprietors who purchase and pay for Tax-Qualified Long-Term Care Insurancepolicies for themselves, their spouses and their tax dependents may claim a deduction for the premiums paid as medical care expenses (IRC Sec. 162 (l) (1) (A) and Sec. 213). Prior to tax year 2003, only a percentage of the eligible Tax-Qualified Long …
Calculate What You Need To Set Aside For Long-Term Care
WEBInvestigate with an expert. This is all we do and have been doing this for 24 years. Let us help you find appropriate coverage and learn how much less that can cost than what you might have expected. Call TheLongTermCareGuy.com at (920) 884-3030 to schedule a time to investigate together. Please follow and like us: Posted in Long …
C-Corporations Tax Deductions for LTCi
WEBA C-Corporation that purchases Tax-Qualified Long-Term Care Insurance on behalf of an Employee may deduct the premiums paid as an ordinary business expense. This holds true for Tax-Qualified Long-Term Care Insurance purchased for the Employee's spouse or other tax dependent. On Behalf of an Employee Stockholder.
The Long Term Care (LTC) Blog
WEBFeb 23, 2024. Rural and small market areas continue to experience growing “nursing home deserts,” an increasing crisis for local officials and beneficiaries facing access issues. The problem is two-fold. The closures stem from a mix of staffing shortages and lackluster Medicaid reimbursement—with the latter causing the first.
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