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Long-term care isn’t just a health issue—it can become a major financial and family decision. Most of us hope we’ll never need extended care, but wise stewardship means planning for possibilities. On the next Faith & Finance Live, Rob West and Nathan Sanow explain long-term care, what insurance can and can’t do, and how to build a plan that protects both your finances and your family. Then, it’s on to calls. That’s Faith and Finance Live . . . biblical wisdom for your financial decisions. That’s weekdays at 4pm Eastern/3pm Central on Moody Radio.

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Breaking Animal News, Fixing Things, Ancient Writings, Beatles/LoTR, Worry, Bless Enemies, Kids Names, Hansen 2042, Seeing God, Traded At Your Job, Seven Up


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Quotes:

"Telling God what you need is much more productive than worrying."

"We've only labeled the label maker."

"God is going to make all things new."

"When we forgive we're drawing people into another kingdom they've never seen before."
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Long-term care isn’t just a health issue. It can become a major financial and family decision.

Most of us hope we’ll never need extended care, but wise stewardship means preparing for possibilities before they become a crisis. And while long-term care insurance may be part of that preparation, the first step isn’t necessarily buying a policy. It’s having a plan.

Nathan Sanow, President of LTC Consumer and MasterCare LLC, has spent more than two decades helping individuals and families navigate long-term care planning. He says the most important place to begin is understanding what would happen if you or someone you love needed care for an extended period.

People often hear “long-term care” and immediately think about insurance premiums. But insurance is simply one potential way to fund a larger plan.

A good long-term care plan begins by asking several practical questions:

These conversations can be difficult, but they are much easier to have before a crisis occurs. Planning ahead also gives family members an opportunity to understand your wishes rather than making major decisions under pressure.

One of the most common misconceptions about long-term care is that Medicare or regular health insurance will cover the cost. In most cases, they will not.

Medicare may pay for certain short-term rehabilitation services after a qualifying hospital stay. For example, someone recovering from a stroke or surgery may receive temporary rehabilitative care.

But Medicare generally does not pay for ongoing custodial care—the type of help someone may need with everyday activities over an extended period. Traditional health insurance generally does not cover that kind of care either.

Medicaid can pay for long-term care, but eligibility requires meeting strict financial requirements. That often means spending down assets significantly before qualifying for assistance.

Another common source of confusion is long-term disability insurance. Long-term disability insurance replaces a portion of your income when you are unable to work. Long-term care coverage, by contrast, helps pay for the care you need when you can no longer adequately care for yourself.

Long-term care insurance is essentially a risk-transfer tool.

Instead of assuming the full financial risk of an unpredictable long-term care event, you pay a predictable premium and transfer some of that risk to an insurance company.

Many policies allow considerable flexibility in how benefits are used. Depending on the policy, coverage may help pay for professional care at home, assisted living, or a long-term care facility.

That flexibility matters because many people would prefer to remain at home as long as possible.

Some policies also provide caregiver support services. When a long-term care event occurs, families are suddenly forced to navigate providers, facilities, benefits, and major financial decisions. Having professional guidance available during that process can be valuable in itself.

The cost of coverage varies significantly depending on the type of policy, age, health, benefits selected, and length of coverage.

Sanow says consumers can think of long-term care insurance much like buying a vehicle: there are inexpensive options, premium opt

There are several groups of people who used to say they’d never become religious, never darken the door of a church building, never be caught carrying a Bible. Today, we call one of those groups “believers” . . . another of those groups “pastors” . . . and another group “evangelists.” Pastor Greg Laurie is a member of all three groups! And today on A NEW BEGINNING, he brings us good encouragement about sharing the Good News with people who need to hear some good news.

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