Long-term care is a subject on many people’s minds nowadays-and for good reason. Medicare does not cover extended stays in nursing homes. Medicare only covers a short period of time, after which-sorry to say it, gals-you are responsible for footing the bill!
Since most people will spend an extended period of time in a long-term care facility in their lifetimes, you need to get started thinking about this. There’s a 43 percent chance that a person 65 years or older will eventually enter a nursing home sometime during her lifetime.
Because the cost of long-term care is high, there is no way that most people can afford to pay for long-term care out of their pockets. So, that’s why they invented long-term care insurance.
This Money Zone will help you understand the concept of long term care insurance and decide what you want to do about your (or your parents’) future.
|Long term care is pretty heavy stuff, so let’s shake things up a bit. Get out of your chair and get moving. Take a walk around the room, stretch, shake yourself out. If you’ve had a tough day, let yourself hang loose for a few minutes. Be grateful that you are strong and capable of stretching and moving. Feel your body move and be thankful for your health.|
|Things to Talk About|
|Long-term care is a complex issue that requires a lot of planning. You’ll need to consider your goals, your habits, and your ideas for the future.Pick the question your Club finds most interesting. If there’s still time, pick another one-or make up your own!
|Catch Yourself Doing Something Right|
|Share your success with your fellow Club members:
|What Will You Do Today?|
|Choose one Small Step to do before next meeting, and pledge to the group to do it. To select that 15-minute exercise, ask yourself these questions:
Don’t drive yourself crazy. Remember, you can do anything for 15 minutes! For example:
You get the picture. This is like Goldilocks. Don’t try to do too much. Don’t try to do too little. Do it just right.
|Money Attraction Affirmations|
|Choose one affirmation to motivate you to achieve your goals, something like:
|The Money Zone for Next Meeting|
|Cast your vote: Does your Money Club want to stay in this Money Zone, or do you want to move on the next Money Zone?
If your group decides to Stay in the Zone then, future Money Star, check out these fun articles so you can discuss them at your next meeting. Even if your group decides to move to the next Zone, you still can explore these on your own.Long-Term Care is a Woman’s Issue
Long-term Care: A Primer
How to Pick a Long-Term Care Insurance Agent; Six Questions to Identify a Real Pro
|Just For You|
|Before the next Money Club meeting, do the Just for You Exercise called Do You Need Long Term Care Insurance?Don’t skip a meeting if you don’t get this done. Half of life is showing up, Money Clubs included. You can tell the group you didn’t get it done, and they will encourage you (not bug you) to make a date to do it soon.Discussion questions for your club meeting: