22 October 2023
Planning for Medical Care Expenses and Long-Term Care Options
Plan for medical care expenses and long-term care options for a 92-year-old individual. Understand financial concerns, review current situation, analyze income and expenses, set goals, create a budget. Explore healthcare costs, insurance options, Medicare, Medicaid, and long-term care services. Prepare for potential health issues, work with healthcare professionals, create advanced directives, consider long-term care insurance. Evaluate investment strategies, assess current portfolio, determine risk tolerance, seek advice from a financial advisor. Preserve assets by identifying threats and exploring protection strategies. Understand Medicaid spend-down rules.