Submitted by Tammy Tate – Publisher, cialis Central Virginia Senior Living Guide
A few months ago, we explained the importance of the Long-Term Care Partnership between you and the Commonwealth of Virginia in the protection of a fair portion of your assets in order to qualify for Medicaid as well as the repayment system for Medicaid on the estate. However, most of us rationalize that “it will not happen to me,” I’ll kill myself before I go into a nursing home,” “the government provides those services through Medicare,”…fill in your own denial words.
On April 11th, U.S.News’ reporter Philip Moeller wrote on five reasons that you need a long-term care plan: (1) 1 in 7 over 65 need at-home care, 1.6 million reside in nursing homes, and as much as 70% of all persons now 65 will need care at some point in their remaining lives; (2) costs are high and rising to a possible $100,000 per year.. from an already cost (2011) of $6000 per month in the Richmond area; (3) in this transient, highly mobile, and smaller family society, it is unlikely that the loved ones are nearby to provide the care or to oversee the care administered by another; (4) U.S. workers and retirees do not plan for this type of financial disaster; and, (5) the government is in the process of re-evaluating and cost-cutting the budget, thereby trimming benefits.
Sometimes, we are reminded of the importance of such planning at the oddest of moments. In the mystery, The Sweetness at the Bottom of the Pie, by Alan Bradley, the first Penny Black (AA) and the mis-dye cast orange Penny Black (TL) were stolen from the headmaster, Dr. Kissing. The story involves the mystique and mayhem of an English country village murder and its precocious, chemist-turned-detective, eleven year old resident, Flavia. After the theft, thirty years pass before the murder occurs. So, you ask, what does this have to do with long-term care…well, Flavia in the process of solving the murder, returns the precious stamps to Dr. Kissing, now ninety-five years of youth and living in a retirement/nursing home. As a philosopher of headmaster proportions, Dr. Kissing comments on the costliness of his living and his ancient hobby of philately paying for his present-day needs. To Flavia, he says: “The cost, you see, of housing a beating heart. One disposes of one’s life one square at a time. Not much of it left, is there?”
Is that your plan…to dispose of your life, one memory at a time?
Edna C. Massey, CLU, ChFC
Myriad Financial Services of Virginia, Inc.
d.b.a. Myriad Insurance Agency
8401 Patterson Avenue, Suite 105
Richmond, VA 23229
Telephone: (804) 750-1110, x303