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LTC Bullet:

Eldercare Advocate on Planning Ahead for LTC

Thursday August 13, 1999


Joy Loverde, a nationally known columnist, speaker and eldercare advocate, is interviewed on Mr. Long-Term Care's web site at Following is an excerpt on the subject of planning ahead for long-term care.

"If you're young and healthy, and maintaining your current standard of living is important, then long-term care insurance is an absolute must....It's unlikely the public sector has either the political will or the funding to deal with the problem of long-term health care on a national scale. Therefore each American has one of two choices: they can make financial plans to cover the costs of long-term care, usually through the purchase of a long-term care insurance policy, or they can spend down everything they have and become a ward of the state through the Medicaid program."

Just a note of clarification: Whether someone "spends down" for Medicaid eligibility by actually paying for his/her care or hires a Medicaid planner to shelter or transfer their assets, the result, as described by Loverde, is the same: You become a ward of the state. Most would agree this is not a desirable outcome after a life of hard work and sacrifice. The message? Plan ahead!

See the complete interview of Joy Loverde at