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"Long-term care costs are completely outside of our health-care system. Medicaid is a needs-based health-care program, and eligibility requirements to receive long-term care under the program vary from state to state. "You might think about the average duration of long-term care along with the average costs to build a long-term care fund." Long-term care insuranceThe middle path involves buying insurance designed to help pay for long-term care. This can include long-term care insurance or whole life insurance with a long-term care rider.
Persons: Christine Benz, Morningstar, Spencer Look, CNBC's, SurveyMonkey, Yusuf Abugideiri, Yeske Buie, they'll, Gerika Espinosa, you'd Organizations: Medicare, Morningstar, Care Survey, Benz, Medicaid, Centers, Services, American, Aging, Administration for Community, American Association for, Care Insurance, CNBC Locations: U.S, Vienna , Virginia, Salt Lake City , Utah
The Caregiver's Lament: How to handle the costs of care
  + stars: | 2022-11-29 | by ( Chris Taylor | ) www.reuters.com   time to read: +5 min
In fact, the United States has 53 million unpaid caregivers, according to a study by the National Alliance for Caregiving and the AARP. No wonder 62% of caregivers for loved ones with disabilities or special needs report being overwhelmed by financial stress, according to Fidelity. However, “programs do exist at the federal and state level to help families and caregivers,” said Dyvonne Body, author of the Aspen Institute report. “In our surveys, 46% of caregivers don’t even think to ask about benefits like that,” said Fidelity’s Stoddard. Long-term care insurance helps with issues like home healthcare and nursing homes, with policy premiums generally cheaper the earlier you secure coverage.
Halfpoint Images | Moment | Getty ImagesSome 70% of people want to age at home, yet only 10% have long-term care insurance, a recent HCG Secure/Arctos Foundation study found. Furthermore, about half of respondents had no idea how much in-home care would cost. "Basically, I try to segment the risk into a short-term need and a long-term need, and to fund them separately," he said. "And most of them can't afford long-term care insurance." Digging into any corporate retiree benefits beyond just a pension, as there's often additional services for in-home care, he said.
Their underperformance this year can be pinned to rising interest rates, since investors who have REITS for their high dividend yields may dump the assets for risk-free Treasurys. While he had reduced his firm's exposure to REITs due to rising interest rate fears, he's now thinking about increasing that exposure. REITs typically make up 5% to 10% of his firm's 10-year plus portfolio portfolio, with the exposure currently at the lower end of that range. In this environment, companies that are less sensitive to rising interest rates should outperform, said Morningstar's Brown. "They should be less sensitive overall to interest rates movements given that most investors are not in hotel names for the dividend," Brown said.
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