Fact:  This is not true. In fact, a little less than half of the people that need long-term care are under the age of 65! Younger people can need long-term care due to car accidents, strokes, MS and a variety of other illnesses that can affect younger people.

Fact:  The healthier you are, the longer you will live. The longer you live, the more likely that you will need long-term care due to old age or frailty. If you didn't take such good care of yourself, you would be more likely to have a health condition that could cause an early death without ever needing long-term care. So if you are healthy you should really consider long-term care insurance.

Fact:  Our children are probably very willing to take care of us. Could you imagine your children saying, "Mom, I won't take care of you?" Of course not, What is the reality of them being able to take care of you? If you are 70 years old now and your daughter is 50, that means when you are 90 years old she will be 70 years old! Can you imagine a 70 year old trying to lift a 90 year old? Or, worse yet, what if she needs long-term care before you do?

If you needed long-term care when your daughter is younger, is she able to quit her job to take care of you? What about her family? When you rely on your children to take care of you, you are putting a huge burden on them. The number one reason why people purchase long-term care insurance is to prevent being a burden on their children.

Fact:  The VA statute allows but does not mandate that the VA provide nursing home coverage. The VA rations the limited nursing home resources according to a list of priorities, which is headed by veterans with service-connected disabilities. The occupancy rate for VA nursing home facilities is more than 90%, so access can be difficult. The only VA home care benefits are a hospital-based home care program that does not provide home health or personal care aides. Many states have only one or two VA nursing homes and not every state has a State Home.

Fact:  Disability insurance replaces a portion of your INCOME if you become disabled. It doesn't also provide another $3,000 to $4,000 to pay for your long-term care. You need both types of insurance.

Fact:  A living trust is designed to avoid the lengthy probate period. Assets held in a living trust are counted as assets in determining Medicaid eligibility. The only type of trust that will protect your assets from the cost of long-term care is an irrevocable trust. If assets have been transferred into an irrevocable trust within 60 months prior to applying for Medicaid it causes a period of ineligibility.

Fact:  Medicare only pays UP TO 100 days of care, per benefit period, if you meet strict criteria. You must have a 3 day hospital stay and you must need skilled care on a daily basis. Not all long-term care illnesses need a three day hospital stay and most people never receive their entire 100 days of Medicare benefits. Therefore, you should choose your elimination period based on how much you can afford to pay and NOT assume that Medicare will pay any of the deductible.

Fact:  There is already a huge strain on our Medicaid budget. There is a 36 month look back period when you apply for Medicaid. If you have given money away in the past 36 months you will become ineligible for Medicaid for a period of time equal to the amount of money you gave away.