With federal purse strings tightening, Americans are likely to need a mix of private and diminished government resources to pay for their long-term care. That's why LTC Financial Partners is offering free presentations nationwide to help people achieve the right mix.
"It looks like Americans will need to rely more on themselves, and less on Uncle Sam, when they need help with the tasks of daily living," says Denise Gott, LTCFP's Chairman of the Board. The free seminars and talks, she says, will spell out all the options.
The first phase of the August 2 deficit reduction agreement exempted Medicaid and Medicare, and did not target the CLASS Act, the upcoming public option for long-term care insurance. But all three programs may be targeted in the second phase of the agreement, which calls for $1.5 trillion additional cuts, to be specified by Congress just before Christmas. If Congress fails to agree on specific cuts, across-the-board cuts will be triggered.
Recommended For You
"It looks like we're moving into an era of more self-reliance," Gott says. "Government assistance will still be there, but we'll need to take on more of the responsibility ourselves."
Although a scary notion for some, Gott says people can get responsible if they get informed and plan ahead. That's the point of the company's 30-minute presentations, which will cover topics including Medicare, Medicaid, private insurance for in-home or nursing home care, the CLASS Act, volunteer care services and self-financing of care services through savings.
"The right mix differs for every family and company," says Gott. "We're here to help everyone relax, learn, and do what's right in their situation."
Event planners may find and request local speakers at http://web.ltcfp.com/ltcfp/consumer.aspx or by calling 855-LTC-YEAR.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
