Advisor Fred Hill: While many people plan for future financial risks with disability insurance, most fail to realize that long-term care (LTC) coverage is not included in most healthcare plans-- expenses associated with assisted living, at-home care, or nursing home care. What is not commonly understood is that Medicaid covers long-term care only if one’s assets are depleted.

Advisor Fred Hill: We concentrate on the employee. However, with issues like long term care we need to remember employees have fathers, mothers, and spouses. When loved ones need daily care, the impact on work and family is measurable. Financial savings are devastated by the costs of at-home care or nursing home care. Such situations affect how employees can contribute to the company.

Advisor Fred Hill:

Advisor Fred Hill: Many employees dedicate years to building their nest egg for healthy retirement living, but fail to plan for the possibility of the sudden or gradual decline in their health or the health of their spouse.

Advisor Fred Hill: Women have traditionally been the caregivers in families, so aging parents or family members needing daily care often become the responsibility of women who are daughters, wives or significant others.

Advisor Robin Schmerler: Costs for nursing home care in the United States are available by state averages, and range from about $100 per day (Alabama) to $250 per day (Connecticut and New York) for a private room.