Tag Archive | "long term care insurance la jolla ca"

Have You Thought About Your Own Long-Term Care Needs?

When it comes to senior care, people often think that the only people that need to be thinking about these plans are the adult children of seniors. This, however, is far from the truth. When it comes to senior care the people that should be thinking about it first are the individuals that will be taking advantage of that care in the future. Have you ever stopped to think about how you would like to be cared for during your senior years? If not, now is the time to start.

It is likely that you have heard of people putting into place funeral plans or writing their wills to make sure that their end-of-life decisions are made in the way that they would want. While this, of course, is important and provides peace of mind, why is it that people tend to jump from youth automatically to death? It seems that people today completely ignore the years of being a senior and forget to put into place plans that will ensure that these years are spent happy and in the way that they would want them to be spent.

Being a senior by no means suggests that you have to give up your independence or stop enjoying an active and exciting life. It might mean that you need extra help taking care of your tasks of daily living or in managing medical concerns or health problems. By making senior care plans before any of these concerns arise will give you confidence knowing that you will have the type of care that you want. It will also give your family peace of mind knowing that they don’t have to make difficult decisions without being sure about your opinion.

Though it may be difficult for you to imagine how much care you might need or when this care will need to start, it’s a good idea to start putting general plans into place early so that whenever the need does come, everyone knows what to do. Some of the things to keep in mind include:

  • Your opinion on home care versus assisted living
  • Your level of privacy and how much care you are comfortable receiving from family members
  • Senior care technology you may be interested in
  • Your opinion about nursing homes
  • If you are insistent on staying in your own home or if you may feel more comfortable moving into your adult child’s house.

Be sure to discuss your plans with your loved ones so that they know these plans are in place and can act on them if it ever becomes necessary.

If you are looking into options for covering the cost of long term care, please contact Capstone LTC Insurance Services. We have helped many families with Long Term Care Insurance La Jolla CA , and the surrounding communities. Call 858-350-3161 for more information.

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Senior Living in La Jolla CA: Learn More About World Alzheimer’s Day 2012

September 21st is World Alzheimer’s Day. “Dementia: Living Together”
is the theme for this year’s event. World Alzheimer’s Day was created by the
World Health Organization in 1994 to draw attention to Alzheimer’s Disease.
This special day will highlight a month of worldwide activities designed to
combat the social stigma Alzheimer’s victims and caregiving family
members face.

Alzheimer’s is the most common dementia. It is a slow, progressive disease
that gradually robs victims of their memory. There are no cures or effective
treatments for the disease’s symptoms. In fact, experts can’t even figure
out how to slow it down. The number of people diagnosed with Alzheimer’s
is expected to explode in the next few decades as the post-World War II
generation, the baby boomers, age.

Misconceptions and detrimental attitudes about Alzheimer’s are still too
common. Caregivers struggle as their loved ones slowly lose touch with
reality. They face not only overwhelming physical care and financial stress,
but also the social stigma of Alzheimer’s. National Alzheimer’s Day will
help victims and caregivers by encouraging positive discussions about this
devastating disease.

The World Alzheimer’s Report will be released during September. Worldwide
seminars, special events and workshops highlighting Alzheimer’s awareness
will also take place this month. Increasing numbers of people are familiar
with Alzheimer’s because of loved ones who are victims. Unfortunately many
still don’t recognize Alzheimer’s symptoms or behavior. National Alzheimer’s
Day will educate community members to be aware of symptoms and of
dementia victims in their area.

Many communities will host fundraising Memory Walks on National
Alzheimer’s Day. Caregiving families, their friends and neighbors will walk
together to remember those lost and to encourage those currently fighting
the disease.

Dedicated researchers are actively fighting the disease. Many diseases have
been eradicated or tamed by devoted researchers who have the money to
take on the task. National Alzheimer’s Day will highlight one of the worst
diseases researchers have ever battled. The day will raise research money,
provide information and promote awareness about Alzheimer’s victims. It
will highlight their caregivers’ struggles to keep them safe. Anyone dealing
with Alzheimer’s dreams of the day this deadly disease will be cured. A world
without Alzheimer’s is definitely going to be a better place for all of us.

If you are looking into options for covering the cost of long term care, please contact Capstone LTC Insurance Services. We have helped many families with Long Term Care Insurance in San Diego CA , and the surrounding communities. Call 858-350-3161 for more information.

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Prepare for the Rising Cost of Long-Term Care La Jolla CA

Prepare for the Rising Cost of Long-Term Care

The price tag of a nursing-home room will continue to grow at a fast pace, but there are ways to offset the cost.

How much is long-term care expected to cost in 20 to 30 years? I’m in my fifties now and am wondering what the price might be to receive care in a nursing home or my home in the future.

The cost of long-term care is already high and is expected to grow at a brisk pace for the next 20 to 30 years. The median cost of a private room in a nursing home now is $206 per day across the country, which adds up to more than $75,000 per year, according to Genworth Financial’s recent Cost of Care study. And the median cost of care from a licensed home health aide is $19 per hour, which equals $152 per day for eight hours of care — or more than $55,000 a year.

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For more information about long term care insurance in La Jolla CA, contact Capstone LTC Insurance Services. We specialize in helping families with the security they need for the future. Call 858-350-3161.

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At ages 59 and 61, your parents are independent and self-sufficient. Still, they realize that an accident, sudden illness or simple aging could trigger the need for long-term care. They nursed your grandmother through her 10-year bout with Alzheimer’s and are well aware that a loved one’s illness can cause heartbreak and financial strain for the entire family. Can a long-term care insurance policy for your parents help protect everyone concerned?

As the senior population grows and health care costs escalate, adult children are becoming increasingly concerned about caring for their aging parents. Many families are dealing with the challenges of mental or physical disability or prolonged illness. For thousands of others, these realities may be just around the corner.

The challenge for these families is to provide the best possible long-term care for a parent without causing severe financial hardship for the rest of the family. In most cases, families must plan ahead without knowing the answers to key questions: Will a parent need round-the-clock nursing home care or assistance with daily activities such as bathing and dressing? Will home health care be enough? Will Medicare pay for it? Does the parent qualify for Medicaid? What cost will the family incur?

One thing is certain — long-term care is very expensive. Unlike traditional medical care, which seeks to rehabilitate or correct certain medical ills, long-term care aims to help people with chronic conditions compensate for limitations on their ability to function independently. Long-term care involves a wide variety of services and, generally, older people often need more care than they anticipate.

Government assistance programs may offer little help. Medicare — the federal health insurance program for people over the age of 65 — provides very limited long-term care benefits and can require substantial co-payments. Medicaid — the public health care program for low-income Americans — has strict financial eligibility criteria and generally requires beneficiaries to deplete their savings, or “spend down,” before it will pay for services. Other public services may be available but typically are offered on a sliding-fee scale, based on ability to pay. There also may be waiting lists.

While long-term care insurance is not for everyone, it is an attractive form of security for many people. Depending on the policy, long-term care insurance can cover nursing home stays, home health care and community-based services.

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If you are looking into options for covering the cost of long term care, please contact Capstone LTC Insurance Services. We have helped many families with Long Term Care Insurance in La Jolla and the surrounding communities. Call 858-350-3161 for more information.

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The Expense and Accessibility of Elder Care Services in La Jolla CA

Are you prepared for the services you may need in La Jolla CA?

One big purpose of a many families is to help their aging loved ones stay in their own home in a healthy and well-known surrounding for as long as possible. No one’s favorite option is to go to a facility or an institution regardless of how lovely the building or the decorations. For a senior to remain in their own household securely they many need just a a small number of hours of help or they might need around the clock care. A review by a home care professional is needed to establish what is best.


According to the MetLife Mature Market Annual Survey on the Cost of Care in the United States, the findings look like this:
• The national average daily rate for a private room in a nursing home rose 4.4% from $229 in 2010 to $239 in 2011.
• The national average monthly base rate in an assisted living community rose 5.6% from $3,293 in 2010 to $3,477 in 2011.
• The national average daily rate for adult day services rose 4.5% from $67 in 2010 to $70 in 2011.
• The national average hourly rates for home health aides ($21) and homemakers ($19) were unchanged from 2010.


The best way to know specifically just how much home care services will cost is to talk to one of our professionals. All together you can come up with a plan of care and a number of hours that is not only economical, but keeps your aging loved one safe and in their own home.

Ask about options like The VA AID and ATTENDANCE PENSION BENEFIT, Reverse Mortgages, Life Settlements, and Long-Term Care Insurance. Chances are that one of those programs may be able to help with the cost.


As soon as today in most cases. The start date is up to you, but our team is dedicated to getting a caregiver in your home as soon as you need them.

Contact us today:

For more information about long term care insurance in La Jolla CA, contact Capstone LTC Insurance Services. We specialize in helping families with the security they need for the future. Call 858-350-3161.

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Long Term Care Insurance La Jolla CA: The Biggest Threat to Your Life Savings

You’ve done all the right things. You lived within your means and saved diligently. You’ve maintained a properly diversified portfolio through all the ups and downs of the market. You kept an eye on investment costs and used a variety of strategies to minimize taxes on your gains. As a result, you’ve accumulated a sufficient nest egg to fund your retirement income and provide a decent legacy for your children.

Unfortunately, you could lose it all if you don’t make the right moves to protect your assets. No, I’m not talking about the prospects of continued market volatility or a double-dip recession that usually dominate the news and everyone’s minds. I’m referring to the threat of long-term care costs, which would be the expense of a nursing home stay, assisted living, or home health care.

The problem is that the couple is far from impoverished. Like most middle-class retirees, they have too little to pay for long-term care costs on their own but too much for programs like Medicaid. If the government begins means-testing other entitlement programs (as has been proposed by a number of politicians on both sides of the aisle), this problem could extend to health costs under Medicare, too.

So what can this couple do? Their first idea was to give the property to their children now. However, Medicaid will still require them to spend down assets given away within 5 years of needing care, which is called the look back period. At their age, this is a big risk to take.

Another downside of giving the assets away is that when the children eventually sell it, they will have to pay a capital gains tax on all the gain since the parents first purchased it. At the current federal capital gains rate of 15%, this would be over $100k in taxes. It could be even more when you factor in state capital gains taxes and the fact that the federal rate is scheduled to go up to 20% next year and might even go higher. On the other hand, if the children inherit the property, they’ll only have to pay capital gains taxes on the gain in value after they inherit it, due to the “step-up” at their parents’ death.

Their best bet might be to try to purchase long-term care insurance before their age and/or health makes them uninsurable. Given the uncertainty of how long they might need care, how much should they purchase? Buying a policy that covers them for life will likely be unaffordable while any other policy subjects them to the risk of running out of benefits long before their need runs out.

One solution is to buy 5 years’ worth of coverage. This way they can give away their assets when they need care and let Medicaid kick in after their insurance expires. However, there are three problems with this. First, most people would prefer not to give up their assets before they pass away. Second, the 5-yr Medicaid rule could be extended in the future. After all, it used to be 3 years and Medicaid’s financial prospects aren’t very rosy. Finally, this could expose the children to capital gains taxes.

A better idea might be to look into long-term care partnership programs offered by the various states that offer “Medicaid Asset Protection.” So how do these programs work?  Suppose you purchase $500k worth of long-term care benefits under your state program. If you run through all of your benefits, you can qualify for Medicaid while still being able to keep $500k more in assets than you normally would. This allows you to purchase just enough insurance to cover the assets you want to protect.

Using this strategy, the couple can continue to enjoy their property and if they need care, their insurance will probably offer them a greater choice of facilities than under Medicaid. Even if they don’t need care, the premiums are likely to cost much less than the capital gains taxes the children would save by receiving the property as an inheritance rather than a gift. It’s a win-win.

Read the entire article here

For more information about long term care insurance in La Jolla CA, contact Capstone LTC Insurance Services. We specialize in helping families with the security they need for the future. Call 858-350-3161.




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Long Term Care Insurance La Jolla CA: Long-Term Care Conundrum

When my mother turned 65, all she wanted was a shiny, new long-term care insurance policy. As an obliging daughter, I found the perfect fit!

Mom was on to something. According to the U.S. Department of Health and Human Services, about 70 percent of people over age 65 will require some type of long-term care (LTC) during their lifetime, and more than 40 percent will need care in a nursing home. In 2008, 21 million people had a condition that required personal care assistance, and that number is expected to rise as the population ages.

If those odds don’t scare you, maybe the dollars will. In 2010, the approximate cost of nursing home care was over $83,000 per year for a private room, $75,000 for a semiprivate room and $40,000 per year for care in an assisted living facility (for a one-bedroom unit), while home health aides charged $21 per hour. Prices vary depending on the state, but you get the idea – this is big money.

And let’s be clear: This kind of care is largely NOT covered by Medicare, which only addresses short-term skilled services or rehabilitative care. The government will step in (via Medicaid) only if you deplete most of your assets — not something I advocate. Unfortunately, the stories of people blowing through their hard-earned retirement accounts are not fiction — one of the swiftest ways to deplete an asset base is to get sick at the wrong time. That’s probably why Medicaid currently accounts for 40 percent of all spending on long-term care.

Ideally, everyone would be able to find affordable LTC coverage, but it’s just not an option for many. The Affordable Care Act of 2010 originally had a component for LTC, which would have provided basic coverage (about $27,000 per year) for an annual premium of only $1,500. Sadly, the plan was suspended because a bean counter realized that it might cost a lot more than originally anticipated.

That leaves most people who own a house and have saved a chunk of money (let’s say a total net worthof over $300,000) with a rotten dilemma: either pay for private long-term care insurance, which is mighty expensive, or roll the dice and hope that you don’t need care.

If you are single, maybe you don’t mind assuming the risk. You could spend down your money, leave the kids zilch and qualify for Medicaid under the worst-case scenario. If you have more than $1.5 million, you could choose to “self-insure,” or pay for care yourself.

If you are married, with assets between $300,000 and $1 million, you might be risking your healthy spouse’s quality of life. For example: Joan and Mike are 70 years old with a house and retirement accounts totaling $800,000. Mike has a stroke, which he survives, but he needs more care than Joan can provide. Mike enters a nursing home, which costs $80,000 per year, lives three years and then dies. Joan is left with a greatly reduced nest egg and now must sell her home and make some tough decisions.

There is a middle road. On average, women need care for 3.7 years and men 2.2 years. One way to reduce the cost of an LTC policy is to choose a three- or five-year benefit period. Yes, there are some who will need care beyond five years (about 20 percent), but the cost of an unlimited benefit period could outweigh the risk.

Another way to reduce the cost of LTC insurance is to insure a portion of your daily need, rather than the whole thing. As you shop for LTC providers, stick with the highly rated companies with a proven record of not hiking premiums.

The bottom line is that there’s no sure-fire way to eradicate long-term care risk, but at the very least, you can reduce it.
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For more information about long term care insurance in La Jolla CA, contact Capstone LTC Insurance Services. We specialize in helping families with the security they need for the future. Call 858-350-3161.

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A Guide to Understanding Long-Term Care Insurance

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