That is, unless it's limited to the people who really need it. Medicaid is supposedly for the poor. Instead of buying nursing-home insurance or using their savings, they're getting the government to cover their bills. The program, to be available in October 2002, will have an eligible pool of some 20 million federal employees, retirees and family members, along with members of the military community. John Hancock Life Insurance has introduced 'LTC EasyPay,' a long term care insurance payment plan that uses the income from a Hancock immediate fixed annuity to automatically pay premiums for Hancock long term care insurance.
Active retirement is what all the magazine articles are about.
The second part of retirement remains in shadow. It is learned on a 'need to know' basis, buried beneath mountains of denial by all concerned. We will keep you informed of significant developments. Unfortunately, many employers and employees still think that private health coverage will pay for their parents' long-term care, or that Medicare will cover the costs. In reality, Medicare pays only a small percentage of overall long-term care costs.