Global Estate & Tax Consultant
Johnson W. K. Choi, MBA, RFC. 蔡永強 商科碩士
Tax & Business Consultant 注冊財經顧問
Long Term Care 什麼是長期療養 ?
Who Will Pay 怎樣支付療養費用 ?
What is Long Term Care ?
The assistance someone needs when they cannot take care of
What about Medicare & Others ?
Required depletion (spend down); typically $2,000 assets*(plus home)
Pay only in small percentage of cases; designed for acute care
Supplements pick up for Medicare on acute care; does not cover
Most Health Insurance plans do not pay for Long Term Care !
Who pay for Long Term Care ?
Emergence of the Disability Model
Reimburse for specific services
Care must be provided in a licensed facility
Qualifying for benefits varies by user
Risk attached to reimbursement for medical services
Complex benefit payment process
Indemnity-based-pays fixed benefit amount
Allows payment for nursing home or at-home care
Activities of Daily Living (ADL) benefit trigger-based on loss of set ADLs
Risk attached to disability incidence
Simple benefit payment process
How is Eligibility for Benefits Determined ?
Loss of ability to perform 2 or more ADLs without stand-by assistance
1. Activities of Daily Living(ADLs)
2. Cognitive impairment
Should I give (gift) away everything to receive Medicaid (welfare) ?
Do you want to live with strangers in a crowded room during your final years ?
Do you know the NEW 5 years look back rule on gifting - you can go
How do I protect myself, my assets and to live comfortably during my final years?
Give us a call and we will show you how. There is always no obligations on your part.
Johnson W. K. Choi 蔡永強敬啟
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Johnson W. K. Choi. MBA, RFC.
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