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Long Term Care

Planning for Long-Term Care - Work with a Ramsey-Trusted Pro
Ramsey Solutions - Long-Term Care Insurance Explained


Laura Peery is a Ramsey-Trusted LTi Pro. 


Having a long-term care plan is an essential part of a strong retirement plan.  

Medicare does NOT pay for long-term care.  Having a plan protects wealth, quality of care and family relationships. 


Ten-thousand people a day turn 65!  The baby boomers are “booming” into senior life and elder care needs, tapping into the resources that address those needs.  70% of people over the age of 65 will need some type of long-term care assistance.

As a National LTCi plan specialist, I am licensed and contracted in multiple states.  I work with Mutual of Omaha, Thrivent, NGL, OneAmerica, Nationwide, Brighthouse, Lincoln Money Guard, North American, Global Atlantic, Forethought, Aetna, Manhattan Life and many others.  When a client asks for my help, we review quotes and options from multiple carriers to find the most value for cost.

Planning for retirement should include a long-term care plan.  Planning for long-term care should being as early as age 40 but people who are in their 70's have applied and been approved.  A long-term care plan is  designed to:

  • Assist our children or loved ones from the burden and responsibilities that are required from an aging parent.

  • Leveraging risk and financial resources, protecting assets and income

  • Maintain dignity and freedom-of-choice in the care-plan

  • Cheryl learned a lot from her mother's long-term care experience — including the importance of having a plan. Listen to her full story and contact me to get your plan started today.  CHERYL'S STORY


Long-term care and extended care helps with activities of daily living (like getting out of bed, bathing, organizing medicine, cooking, or getting dressed) that you can’t do because of an injury, illness or cognitive impairment.   But 


As a top National LTCi Plan Specialist and Endorsed by Dave Ramsey, I help my clients find the most affordable solution to meet their goals and budget.

As an independent agent, I work with all of the top-rated companies - Mutual of Omaha, Nationwide, Thrivent, Aetna, National Guardian Life, Lincoln Money Guard, Brighthouse, OneAmerica, True Freedom  and others. 







Creating a Caregiver Agreement between caregivers and those who need Caregiving


The parent and child relationship changes when frailty, health, or accident requires the child to become a full or part-time caregiver.  Parents are often uncomfortable having a conversation with their family should they become frail or need caregiving services, whether by family or professional home care services.  Scheduling Conversations with family is essential to learn the wishes for Caregiving (activities of daily living) and end-of-life decisions. 

It is always my recommendation that those who will need Caregiving own a long-term care policy or create a fund to pay for care services to hire family or professional caregivers to help with their activities of daily living. 

Siblings and children may want to help; however, they have their own lives, jobs, and families.

Many will be conflicted or resentful about spending their time caring for Mom or Dad.  There may be unresolved issues between parents and children. Movies and television programs have focused on these issues.

A parents decline in health or mental capacity will be stressful and emotionally difficult. 

A Caregiver Agreement, or a "Personal Services Contract," is a formal written agreement between a person who will need Caregiving and caregivers, who would be adult children, relatives, friends, or professionals. 

There may also need to be a fiduciary agreement for family, friends, or trusted advisors to be in charge of health, financial, and end-of-life decisions.

There are numerous reasons why a caregiving agreement is advisable and valuable. 

The Caregiver Agreement provides monetary compensation to the caregiver who will offset the loss or of the child's income from other work. Income is lost along with retirement and social security contributions, which may never allow full funding or require additional years of work to fund their retirement plan. 

The Caregiver Agreement acknowledges the caregiver's participation in helping a parent with their activities of daily living. 

The Caregiver Agreement will reduce family issues because the child providing the care is fairly compensated for their time and effort. 

Siblings may be relieved of their guilt or embarrassment about not participating since the caregiver-child is being paid.

A caregiving agreement is valuable when applying for Medical Benefits. 

When entering into a Caregiver Agreement, you'll want to know the factors determining whether the agreement is Medicaid compliant.

  • The agreement must be a formal written document that sets forth the duties and responsibilities of the caregiver and calculating the caretaker's compensation. 

Compensation should align with the fair market cost of similar services in the same geographic area.

  • The caregiver's duties and responsibilities should not duplicate the services provided in a nursing home.


It may be challenging to get Medicaid to accept the Caregiver Agreement if you have been performing the services without being paid.


  • If the Caregiver Agreement provides for a lump sum payment, it must be calculated concerning the life expectancy of the Medicaid applicant. 


The agreement may not exceed the applicant's life expectancy. The Social Security Administration's life expectancy tables may be used in most states.


  • The agreement must be irrevocable and non-assignable.


  • The Caregiver Agreement cannot stipulate that services will be provided "as needed." 


The agreement must expressly state the average number of hours offered each week. The caregiver should keep comprehensive information of all services provided and 

render invoices for caregiving services.


Caregiver Agreements have increased in recent years because these agreements can be an excellent solution for avoiding a Medicaid penalty while providing a caregiver with fair compensation for their services. 

Medicaid has strict policies and changing rules and regulations.

It is beneficial to consult with an Elder Law attorney in your area to create a Caregiver Agreement.

Can Mediciad Take My Home

See the link to Medicaid Planning and Estate Recovery




Thank you for contacting us

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