by mega » Thu Jan 24, 2008 02:26 pm
The first of the baby boomers (of which I am part of that crowd but thankfully more towards the middle of the boomer cycle) turn 62 this year and retirement looms. Yet sadly it appears that many of us have not prepared for this especially in the health care area. Without some sort of long-term health care plan even those who are lucky to be financially well off could see their fortunes erode as health cost eat up much of their retirement dollar.
A recent study by America's Health Insurance Plans found that many baby boomers, even those approaching age 60, have not focused on planning for long-term care expenses. One reason may be that more than half of boomers mistakenly believe long-term care costs will be covered by Medicare or another form of health insurance.
For those who like me are late but seriously looking for answers, suggestions and possibilities for the coming years the Department of Health and Human Services has a wealth of information on long-term care and long-term care insurance at the National Clearinghouse for Long-Term Care Information, which can be accessed online at www.longtermcare.gov
A recent study by America's Health Insurance Plans found that many baby boomers, even those approaching age 60, have not focused on planning for long-term care expenses. One reason may be that more than half of boomers mistakenly believe long-term care costs will be covered by Medicare or another form of health insurance.
For those who like me are late but seriously looking for answers, suggestions and possibilities for the coming years the Department of Health and Human Services has a wealth of information on long-term care and long-term care insurance at the National Clearinghouse for Long-Term Care Information, which can be accessed online at www.longtermcare.gov
Posted: Tue Jan 29, 2008 02:01 pm Post Subject:
Posted: Thu Jan 29, 2009 09:14 pm Post Subject: Baby Boomer Retirement
This has been the subject of much debate, hasn't it? Just like many don't plan for a disaster until it happens, it's not uncommon for financial planning to fall by the wayside until something monumental comes along to spark that necessary concern. It seems that Medicare should pay some of this. Isn't that why they're there-to help take care of people? Like so many things though, it all goes back to funding. Medicare and Medicaid used to offer a lot more services than they do now but as the funding fell out they had to start cutting things. Retirement is no exception it seems. Thank you for such an interesting post! God bless you! Take care.
Add your comment