Saving a Client From Long-Term Care Limbo – Wall Street Journal – 03/13/13



The Wall Street Journal

Wealth Management – March 13, 2013

Expecting the Unexpected When It Comes to Retirement Planning

By Niki Reading

The woman was in her mid-70s and healthy, but her husband had Alzheimer’s disease and had just been put into a $4,000-a-month long-term care facility.

Although the couple’s long-term care insurance would cover three years of care, the husband was likely to live longer than that, and the woman feared that the combination of her living expenses and his future medical bills would decimate their $750,000 in retirement savings.

The client had fallen into long-term care limbo: She had too many assets to qualify for government medical programs, but wasn’t wealthy enough to pay for extended long-term care.


Comments March 13, 2013

Although the current look-back period for Medicaid asset protection is five years, it had been three years. To further protect taxpayers that fund Medicaid, the look-back will likely increase – possibly to 8-10 years.

Fortunately, there is a straight forward way to protect your assets away from Medicaid without a look-back period. Like most insurance, Partnership Program Certified Long Term Care Insurance Policies provide greater benefits than the premiums you pay. But, they also provide assets protection away from Medicaid. In most states, these policies provide $1 of asset protection for every $1 of long term care benefits paid by the insurance company. In some states, these policies provide 100%, unlimited asset protection, not $1 for $1.

Pricing for the same level of coverage can vary greatly between companies, with some companies charging over 100% more than others. Let us research the market and design a long term care solution to meet your needs and budget at:

Aaron Skloff, AIF, CFA, MBA

CEO – Skloff Financial Group


Aaron Skloff, Accredited Investment Fiduciary (AIF), Chartered Financial Analyst (CFA) charter holder, Master of Business Administration (MBA), is the Chief Executive Officer of Skloff Financial Group, a NJ based Registered Investment Advisory firm. The firm specializes in financial planning and investment management services for high net worth individuals and benefits for small to middle sized companies. He can be contacted at or 908-464-3060.


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