Here are all the articles I've written about Long Term Care. Enjoy!

October 15th, 2018

Freelancers & Independent Contractors! A new CA law could HURT your status!

If you’re a FREELANCER in CA (aka INDEPENDENT CONTRACTORS) — read all of this to protect your $$$ !

The Insurance Mom wants to make you aware of a recent CA Supreme Court ruling.    It could really HURT you as a FREELANCER.     If you HIRE freelancers, this new state law could hurt you as a business owner.   WATCH OUT!

For more information or to sign-up and have YOUR voice heard please visit I’m Independent to protect your rights as freelancers and/or a business owner.

Dynamex Operations West Inc. v. Superior Court (Dynamex) could require many 1099 independent contractors to become W-2 employeesand YOU won’t have a choice.

The ABC test determines WHO is an independent contractor or an employee.    You will be Independent Contractors ONLY if the hiring entity is able to PROVE ALL THREE of the following:

     (A)    That the worker is free from the control and direction of the hiring entity in connection with the performance of the work, both under the contract for the performance of the work and in fact;

     (B)    That the worker performs work that is outside the usual course of the hiring entity’s business; and,

     (C)    That the worker is customarily engaged in an independently established trade, occupation, or business of the same nature as the work performed.

You should be VERY alarmed!!   The Dynamex ruling is now CA State law and will NOT be appealed.

freelancers independent contractors

The new standard could potentially reach back four years which could financially destroy your business even if you were fully compliant in operating under the previous standard of Independent Contractors.

Hmmm… I have questions:   Who is going to be the watchdog?   The regulators?   The enforcers?   Are small businesses at risk as much as large businesses?    How will the regulators know who’s …

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April 2nd, 2018

Have YOU heard about the MEDICARE updates?

Sooo… what’s all the buzz about the ALL NEW Medicare updates?
NEW MEDICARE ID CARDS ARE ON THEIR WAY!
No more Social Security numbers.
Starting this April, the Centers for Medicare Services (CMS) will be rolling out their NEW ID cards.
There’ll be one with YOUR name on it… and a BRAND NEW Medicare ID number. So watch your snail-mail box!
Make SURE your mailing address is up-to-date. Go to the Social Security website or call 1-800-772-1213.
But don’t panic if your NEW ID card doesn’t show up right away… this is going to take some time and I’m sure there’ll be hiccups.
CMS is rolling out the new models over the next 12 months and California is supposed to be in the first wave (we’re so special!)
ONLY your ID card is getting a make-over and a NEW ID number — no changes in benefits!
*** If you pay your Medicare premiums at your bank’s Online Bill Pay service, update your account with your NEW Medicare ID number (no dashes).
*** If you pay by check, write your NEW Medicare ID number on your check.
*** Remember to give your doctors your NEW Medicare ID card the next time you pay them a visit.
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June 24th, 2015

Have YOU planned for the OMG??!

Do YOU have enough bucks tucked under the mattress for that OMG-unexpected-high-medical-expense?  And, they’re always unexpected!  How will you pay for stuff?   Most people don’t have enough saved up for that OMG! time… or even for sushi next week.    I have some great ideas… like an automatic savings plan, like life insurance, like disability insurance, like Long Term Care Insurance.

Call The Insurance Mom… we should tawk!…

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June 10th, 2015

Can you measure the value of time?

Tim Wiholt, an insurance broker from Nashville, wrote this lovely LinkedIn post.  I adored it!  I just had to share his sentiments.

Life by the numbers . . . the average person lives to be about 80.  We spend roughly the first 20 years learning, the last 20 retiring, and the 40 in the middle ‘making a life.’

His message?  We all have the same amount of time on this little planet.   Make those precious minutes for the time in the middle count.  And take care of yourself mentally, physically, and financially to enjoy those last 20.

The best way to make sure the latter 20 years go smoothly is to plan ahead with Long Term Care insurance.  The best way to make sure your loved ones are protected is to get Life insurance, so your family has choices, not expenses.  No way to predict the future, but there is such a thing as smart planning.

Bravo, Tim!  Wiser words were never spoken.  Read the whole article with tips on time management here: https://www.linkedin.com/grp/post/42972-5989768525483438081

 …

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March 4th, 2015

Pop Quiz! Did you study LTC?

Whether or not you’ve studied the articles in the last week on Long Term Care Insurance, The Insurance Mom has a pop quiz to see if you’re ready for Long Term Care Insurance!

 

Answer the following for yourself and your family, True or False:

I’m between the ages of 40-65 or I have parents in that age range.

We’re relatively healthy and have no major medical problems now.

We for sure don’t have an extra $90,000 for unexpected expenses should I (or my parents) need long term care in the future.

We’re not strong enough to fireman carry each other!

 

If these ring true for you or a family member, you should think about Long Term Care Insurance – TRUE!  Call The Insurance Mom and heave a sigh of relief!…

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March 2nd, 2015

Final of the LTC Study Series

Does Medicare cover long-term care expenses?  The answer may surprise you!  Let’s take a look back at a recent post on LTC to round out our LTC education . . .

There was an easy-to-read article in the LA Times about Long-Term Care Insurance which spelled it out very nicely.

If you haven’t given much thought to how you’d pay for long term care expenses, you’re not alone.    Most of us haven’t.   But, the BIG question is:   Would you be able to pay for someone to take care of you 24/7?

In California, today the average annual cost for long term care in your own home  is about $82,000.  Wow, that hurts!   If you cover your ass(ets) and get long-term care insurance, you’ll significantly reduce your costs.

So . . . DOES Medicare cover LTC?  No!     Does your health insurance cover LTC?   No!

Not a happy prospect.   We are all about protecting your money over here, so it may be time for you to start thinking about it, too.  Remember… the younger you are when you plan ahead the more you save.  The Insurance Mom only wants what’s best for her favorite people!

Educate yourself on the eye-opening details by reading the article here and contact The Insurance Mom for a chat about your future.  Mind your P’s and Q’s and you’ll be taken care of . . . long-term.

 …

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February 27th, 2015

What’s the cost of getting older? $90,000 a year!

$90,000.   That’s a lot of money!   On a national average, it’s what you’ll pay  if  your Mom or Dad lands in a nursing home for a year (and the average stay is 2.5 years).  That’s really a ton o’money!!

If your Mom or Dad would prefer to get better at home (and who wouldn’t?), today the cost of home care is about double.

Do you have over $225,000 (or more?) to pay for long term care services?   No?  Do your parents have over $225,000 to pay for long term services?  No?  What ever will you do?

The Insurance Mom knows!  Doesn’t that make you feel better already?    Long Term Care Insurance is the answer.   Let an insurance company pay the bills.

Find out how.   What better reason to call The Insurance Mom?…

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February 25th, 2015

Repost! 4 Simple Rules About Long Term Care Insurance

Another oldie but a goodie (with some updates) about Long Term Care Insurance.  Is it time for you or your parents to think about Long Term Care Insurance?  Here’s 4 quick rules about LTC . . .

First, always consult with a qualified broker, like The Insurance Mom!

Second, buy a plan that’s affordable.  Don’t go hog wild and buy a plan that’ll  cover 100% of anticipated future costs just because you think it’s better.  It is much smarter to buy a policy you can afford to pay for every month.   If you can’t pay the premium, what’s the point?  You’ll get no benefits at all if that happens!   It’s better to buy a policy that will cover at least half of future costs than buy no policy at all.

Third, buy a policy that keeps up with inflation (that’s called a Compound Inflation Rider).   The cost of care rises every year.   Get a policy that keeps up with the times.   Look for a policy with a built-in 5% Compound Inflation Rider.

Fourth, aim for the shortest possible waiting period for the plan to kick in (that’s called the Elimination Period).  For example, if you have a 30-day elimination period, you’ll pay for the first 30 days of expenses out of your own pocket.  The shorter the Elimination Period, the more expensive the policy will be.   If the Elimination Period is 90 days or longer, be sure you have the moo-la to cover you!

Now…. don’t you feel smarter?!  You get a cookie for reading!


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February 23rd, 2015

Revisiting A Short Course on LTC

Now that we have a bit of a handle on Open Enrollment for health insurance, I am getting nostalgic on my old blog posts and found this goodie on LTC:

Did you know that at least 60% to 70% of people over 65 will eventually need long term care, either at home or in a nursing home?   That can be very expensive.

The average stay in a nursing home per year is almost $90,000.

Your health insurance does NOT cover this kind of expense, neither does Medicare!   Oy.   That’s why The Insurance Mom wants you to consider Long Term Care Insurance (LTCi)  especially if you don’t have enough savings or a rich uncle.

If you have LTCi and have to go into a nursing home or need at-home care, the total cost of all your premium payments combined will likely be less than the cost of a single year in a nursing home or full-time home care — no matter how many years you’ve been paying premiums.

Think about that for a moment.   No matter how long you pay LTCi premiums, you will get it all back in one year of benefits!   That’s huge.   I think it’s a wise investment in your financial future.

Come back Wednesday for 4 simple rules to follow when buying Long Term Care Insurance.…

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July 9th, 2014

Long-Term Care Clarity!

Does Medicare cover long-term care expenses?  The answer may surprise you!

 

There was a neat article this week in the LA Times about Long-Term Care Insurance which spelled it out very nicely.

 

If you haven’t given much thought to how you’d pay for long term care expenses, you’re not alone.    Most of us haven’t.   But, the BIG question is:   Would you be able to afford it?

 

In California, the average annual cost for long term care – today — is about $82,000 a year.  Wow, that hurts!   If you cover your ass(ets) and get long-term care insurance, you’ll significantly reduce your costs.

 

So . . . DOES Medicare cover LTC?  No!     Does your health insurance cover LTC?   No!

 

Not a happy prospect.   We are all about protecting your money over here, so it may be time for you to start thinking about it, too.  Remember: the younger you are when you plan ahead the more you save.  The ‘Mom’ only wants what’s best for her little kiddies!

 

Educate yourself on the details of the ins and outs with the article here and contact The Insurance Mom for a chat about your future.  Mind your P’s and Q’s and you’ll be taken care of . . . long-term.…

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