TITLE

Guiding Your Clients Through the Long-Term Care Maze

AUTHOR(S)
Opiela, Nancy
PUB. DATE
June 2003
SOURCE
Journal of Financial Planning;Jun2003, Vol. 16 Issue 6, p34
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article offers several strategies for financial planners in the U.S. to deal with issues on long-term care. Networking is essential to planners looking to help clients with long-term care decisions which depend on trust and relationships. Pennsylvania-based Legend Financial works with a geriatric care manager who is not affiliated with a specific long-term care facility. In a situation where a patient has to move from the hospital to a nursing home, it is important to assist the family in making the selection. For clients who have long-term care insurance and submit monthly agency bills for reimbursements, financial planner Susan S. Spraker offers to review the bills, complete the paperwork and send the package to expedite reimbursement. Planning for health care has to be part of the retirement planning process because it is going to be a significant expense. Planner Lisa A. Cerbone educates her clients about the level of nursing care available at a particular center, the difference between a skilled nursing facility and an assisted-living center and what a home health aid can do. She then asks clients to set priorities ranging from proximity to family to cost, and to consider the range of factors that determine long-term health and happiness. INSET: How to Choose a Geriatric Care Manager.
ACCESSION #
9999435

 

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