David T. Phillips joins Suzanne to talk about a crisis in Long Term Care and how it is seriously negatively impacting Americans. Financial wellness is one of the 8 foundational principles of wellness featured on the Vitality Revolution podcast series sponsored by Humana.

He says statistically we are woefully unprepared for a medical long-term care event:

* If you are 65 years or older, there is a 72% chance that you will require some type of extended long term care in your lifetime.
* If you are married and over 65, there is a 91% chance that one of you will experience a long term medical event.
* Warning: Long-Term Care isn’t cheap. The national average is over $110,000 a year, and full time Alzheimer’s care in Arizona is over $200,000 a year.
* Currently, 43% of all long-term care expenses are covered by Medicaid. The problem is that Medicaid provides bare-bones coverage, and to qualify you must spend down your assets to virtually nothing.

David T. Phillips is a nationally recognized consumer advocate for estate planning, insurance and long term care, with 51 years of experience. He is the author of the bestselling books Estate Planning Made Easy, The Family Bank Strategy, The 10 Most Common Estate Planning Mistakes and How to Avoid Them, and more. He co-authors the extremely helpful estate and financial planning newsletter ''Generational Wealth Strategies." He is the CEO and founder of Estate Planning Specialists. With clients in every state, his companies have assisted thousands of Americans properly plan their estates.

Answers for Elders listeners can receive a free copy of David's special report Leveraged Care Solutions: Answers to Today’s Long-Term Care Crisis, and other free Special Reports, when you subscribe to the "Generational Wealth Strategies" newsletter. Answers for Elders listeners can subscribe at a discounted fee of $77 a year, a $172 savings. Subscribe here to get the discounted rate: https://www.generationalwealthnewsletter.com/offer/gws-answers-for-elders-2

David's office is at 888-892-1102, or visit his Estate Planning Specialists website at https://epmez.com/.

Learn more:
* David T. Phillips: https://epmez.com/our-team
* Generational Wealth Strategies newsletter: https://www.generationalwealthnewsletter.com/
* The Vitality Revolution podcast series: https://answersforelders.com/vitality-revolution/
* Humana: https://www.humana.com/
* Answers for Elders: https://answersforelders.com/welcome-to-answers-for-elders/

Hear more podcasts about financial wellness at https://answersforelders.com/financial-wellness

Answers for Elders is part of the SeniorResource Network: https://www.seniorresource.com/
Check out our affiliate podcast Alzheimer’s Speaks: https://alzheimersspeaks.com/

<a href="https://epmez.com/our-team">David T. Phillips</a> joins Suzanne to talk about a crisis in Long Term Care and how it is seriously negatively impacting Americans. Financial wellness is one of the 8 foundational principles of wellness featured on the <a href="https://answersforelders.com/vitality-revolution/">Vitality Revolution</a> podcast series sponsored by <a href="https://www.humana.com/">Humana</a>.
He says statistically we are woefully unprepared for a medical long-term care event:
* If you are 65 years or older, there is a 72% chance that you will require some type of extended long term care in your lifetime. * If you are married and over 65, there is a 91% chance that one of you will experience a long term medical event. * Warning: Long-Term Care isn’t cheap. The national average is over $110,000 a year, and full time Alzheimer’s care in Arizona is over $200,000 a year. * Currently, 43% of all long-term care expenses are covered by Medicaid. The problem is that Medicaid provides bare-bones coverage, and to qualify you must spend down your assets to virtually nothing.
David T. Phillips is a nationally recognized consumer advocate for estate planning, insurance and long term care, with 51 years of experience. He is the author of the bestselling books Estate Planning Made Easy, The Family Bank Strategy, The 10 Most Common Estate Planning Mistakes and How to Avoid Them, and more. He co-authors the extremely helpful estate and financial planning newsletter ''Generational Wealth Strategies." He is the CEO and founder of <a href="https://epmez.com/">Estate Planning Specialists</a>. With clients in every state, his companies have assisted thousands of Americans properly plan their estates.
Answers for Elders listeners can receive a free copy of David's special report Leveraged Care Solutions: Answers to Today’s Long-Term Care Crisis, and other free Special Reports, when you subscribe to the "Generational Wealth Strategies" newsletter. Answers for Elders listeners can subscribe at a discounted fee of $77 a year, a $172 savings. <a href="https://www.generationalwealthnewsletter.com/offer/gws-answers-for-elders-2">Subscribe here</a> to get the discounted rate: https://www.generationalwealthnewsletter.com/offer/gws-answers-for-elders-2
David's office is at 888-892-1102, or visit his <a href="https://epmez.com/">Estate Planning Specialists</a> website at https://epmez.com/.
Learn more: * <a href="https://epmez.com/our-team">David T. Phillips</a>: https://epmez.com/our-team * <a href="https://www.generationalwealthnewsletter.com/">Generational Wealth Strategies</a> newsletter: https://www.generationalwealthnewsletter.com/ * The <a href="https://answersforelders.com/vitality-revolution/">Vitality Revolution</a> podcast series: https://answersforelders.com/vitality-revolution/ * <a href="https://www.humana.com/">Humana</a>: https://www.humana.com/ * <a href="https://answersforelders.com/welcome-to-answers-for-elders/">Answers for Elders</a>: https://answersforelders.com/welcome-to-answers-for-elders/
Hear more podcasts about <a href="https://answersforelders.com/financial-wellness">financial wellness</a> at https://answersforelders.com/financial-wellness
Answers for Elders is part of the <a href="https://www.seniorresource.com/">SeniorResource Network</a>: https://www.seniorresource.com/ Check out our affiliate podcast <a href="https://alzheimersspeaks.com/">Alzheimer’s Speaks</a>: https://alzheimersspeaks.com/

Answers for Elders is the North Star in Navigating Senior Care.  Our content is designed to Empower Seniors and their Families through the Daunting Journey of Aging.

Featuring our host, Suzanne Newman and top industry providers across the USA, together, we support, coach and assist seniors, caregivers and their families in finding the best independent solutions in world of aging, with a comprehensive line-up of topics covering Health & Wellness, Life Changes, Living Options, and Money & Law.

Answers for Elders is the North Star in Navigating Senior Care.  Our content is designed to Empower Seniors and their Families through the Daunting Journey of Aging.
Featuring our host, Suzanne Newman and top industry providers across the USA, together, we support, coach and assist seniors, caregivers and their families in finding the best independent solutions in world of aging, with a comprehensive line-up of topics covering Health &amp; Wellness, Life Changes, Living Options, and Money &amp; Law.

Answers For Elders Radio Network

Empowering Seniors and their Families through the Daunting Journey of Aging

For Caregivers: If you're caring for a senior loved one, or navigating later life care, we help make the journey so much easier for you and your family.

For Seniors: We help you be proactive to prepare for your aging years ahead, honoring your wishes.

Featuring our host, Suzanne Newman and top industry providers across the USA, together, we support, coach and assist families in finding the best independent solutions in world of aging, with a comprehensive line-up of topics covering Health & Wellness, Life Changes, Living Options, and Money & Law.

Empowering Seniors and their Families through the Daunting Journey of Aging
For Caregivers: If you're caring for a senior loved one, or navigating later life care, we help make the journey so much easier for you and your family.
For Seniors: We help you be proactive to prepare for your aging years ahead, honoring your wishes.
Featuring our host, Suzanne Newman and top industry providers across the USA, together, we support, coach and assist families in finding the best independent solutions in world of aging, with a comprehensive line-up of topics covering Health &amp; Wellness, Life Changes, Living Options, and Money &amp; Law.

Answers for Elders

David T. Phillips joins Suzanne to talk about a crisis in Long Term Care and how it is seriously negatively impacting Americans. Financial wellness is one of the 8 foundational principles of wellness featured on the Vitality Revolution podcast series sponsored by Humana.

Today's Long Term Care Crisis

https://api.omny.fm/orgs/5e27a451-e6e6-4c51-aa03-a7370003783c/clips/45e894f3-1b26-4039-b157-b093013492ab/transcript

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