synergyhomecare-eastvalley

Planning for Long Term Care, Part II

In my post from yesterday I spoke about the need to have a long term care plan and the value of having a long term care plan like a last will.  Now, I didn't mean to say get one over the other, you need both for complete success. 

In this post I would like to turn to those individuals that now have a long term care plan in place and what to do with it on a regular basis.  First off, I would like to say with resounding joy, "Congratulations!".  It's pleasing to this company to see folks with that vision.  But, now that you have taken care of things for 2010 you will need regular check-ups to that plan just like any other long range plan, like your 401k, 529 or anything else.  When you are undergoing the check-up over the next few years be sure to always check to see how the latest new strategies play a role into yours. 

If you are due for a long term care planning check-up in the next year be sure to discuss the strategies of CLASS ACT.  CLASS ACT is a federal government form of long term care that was part of the health care reform bill that passed congress earlier this year.  Although CLASS ACT is not long term care insurance, the cost to sign-up for the benefits that will be offered down the road may be a nice addition to your long term care strategy. 

More Information on Health Care Reform

There is a lot of buzz going around the internet regarding the changes coming in the future with respect to the health insurance reform act.  And although I am not an expert on the changes the new health care reform bill proposes, I am staying on top of the changes.  Why?  Because people ask us daily what it means to them and what changes they can expect. 

I intend on posting only the bare essentials and the changes that are coming for sure.  The first change coming is including the group of individuals that have pre-existing conditions.  Although the addition of this group of individuals is not automatic, the changes are beginning. 

Please see the following page for more information and check back with us as we will continue to update this blog on Reform updates. 

http://www.healthreform.gov/newsroom/children_preexisting.html

The Health Care Bill and the Long Term Care Industry

Many folks have asked over the last week what the impact of the health care bill is going to have on the long term care industry.  Well, frankly speaking, I am not qualified to answer all of the specifics, however, there are few things that must be shared since they are know.  I am awaiting on a more detailed analysis in the coming days from groups that help regulate the industry.  Here are the few that we do know. 

First, in the health care bill, CLASS ACT was included.  CLASS ACT is another benefit that works very similar to Medicare in that we pay for it through payroll deductions.  But the end benefit can be used on long term care options like home care!  This is great news because it does indeed highlight the need for folks to consider long term care options as part of their financial planning.  More details about CLASS ACT will be provided as they unfold. 

The second thing that the health care bill is Community First Choice.  This program is designed increase the level of federal money provided to the states that care at home to disabled individuals that would normally need institutional levels of care. 

These two programs create an exciting time for the industry and for SYNERGY HomeCare of the East Valley since we are a leading provider of home care to seniors and developmentally disabled children and adults in Mesa, Chandler, Gilbert and Queen Creek Arizona.