Long Term Care Benefits - A Better Way!

If you are like most people you have contemplated Long Term Care Insurance.  You remember when your Aunt got put into an Assisted Living Facility, which seemed like a nice enough place but you know how it made the family struggle.  They would tell you about the bills.   Then when all the money was gone Auntie was taken from her nice facility and moved to a Welfare facility.  Not near as nice and the smell, oh the smell. 

So, you say that will never happen to me, 

I’ll put a bullet in my head before I let that happen to me (but you probably won’t) 
My children will take care of me (in between working and taking care of their children)

Then you find out that Medicare does not pay for this type of care. You don’t want to be a burden to your family.  But those premiums are so high, and insurance is a gamble.  I mean, what if I am lucky enough to expire without going to a home.  Decisions, decisions, decisions. 

What if I told you there was another way to prepare for this problem.

What if I told you that it would not cost anything.

Are you curious?   

What if I told you that you could triple (3x) the value of your current savings if you needed care, but if you don't then it stays your money.   

Are you interested?

Then you should consider the Forecare Fixed Annuity with Long Term Care Benefits.  This is an interest-bearing saving account that triples (3x) in value if you require Long Term Care.  

When approved, your $150,000 investment become $450,000 should you require assistance performing 2 ADL's (Activities of Daily Living), and all the while earning interest so if you never require care your $150,000 is still growing.   

Maybe you have a CD that is maturing, or a Mutual Fund that hasn’t performed, or maybe you have money just sitting in a Money Market Account earning nothing, or an IRA you've all but forgotten about.  

You could simply transfer that money and know that you’ve protected yourself. What could be easier!

  

 

 

ALLSTARFinancialInsurance.com

425-814-6378

Affordable Care Act - Open Enrollment November 1 – January 15

Affordable Care Act (ACA) 

aka Obamacare

Open Enrollment

November 1 – January 15

You may have been hearing about open enrollment for the last few weeks.  That was for people over the age of 65.  Now is the time for people under age 65. 

This is going to be a challenging year when it comes to Medical Insurance, rates are going up 30 to 50%,  the current administration is determined to get rid of the Affordable Care Act aka Obamacare.

I am sure you know about the attempts to repeal the ACA,  this year things will remain the same however, many carriers will not be offering coverage and the  remaining plans may require you change your doctor.  

Good news is if your income falls below 400% of Federal Poverty Level you will still receive your premium reduction and you will not be impacted too much since subsidies or tax credits will keep your premiums under control.

          Household #             400% OF FPL 

               1                           $  48,240 
               2                           $  64,960 
               3                           $  81,680 
               4                           $  98,400 
               5                           $115,120 
               6                           $131,840 
               7                           $148,560 
               8                           $165,280 

But,  if your income exceeds these amounts prepare to be upset.  Premiums are increasing, you can expect sticker shock.   Regence, Bridgespan and Lifewise will not be offering coverage.  Many of your doctors will be Out-of-Network in the plans that remain. 

If you own a Business you may want to consider a group insurance plan.  You would have more options and access to doctors you want to see. 

There are Accident and Illness policys. These plans are not Medical Insurance but they will help with the bills.  You can get an Accident policy for under $20 per month,  or an entire family for under $50.  Many people do these plans with Medical Insurance since deductibles are so high.

There are policys for Cancer,  Heart Attack, Stroke and Critcal Illness.  These plans let you to choose how much coverage, $5,000 to $500,000 or more. 

ALLSTAR Financial Insurance is here to help you figure out what is best for you. Give us a call. 

425-814-6378

jr@allstarfinancialinsurance.com