LOS ANGELES, Calif., April 2, 2013 (SEND2PRESS NEWSWIRE) — According to retirement crisis expert and author Karl Kim, CFP, CLTC, each year thousands of people are thrust into a “care crisis” when a family member or loved one needs long-term care. The challenge is not only finding the right nursing home; what can be even more challenging is figuring out how to pay for the care – and how to minimize possible damage to the rest of the family.
“That information isn’t easy to find,” says retirement crisis planner Karl Kim, CFP, CLTC. “Every year I speak with hundreds of adult children and their parents who have gotten bad advice, or who don’t know where to turn for answers. That’s the reason I wrote ‘Don’t Go Broke Paying the Nursing Home.’ Now every Californian can understand what needs to be done to protect their home, cash and retirement accounts.”
Karl Kim’s book is an easy-to-read quick reference guide. It provides answers in simple language to common questions such as:
* What information do you need to provide to Medi-Cal?
* Do you need an attorney to submit the application?
* What is the maximum amount a person or couple can have to qualify for Medi-Cal?
* What is the difference between Medicare, Medicaid and Medi-Cal?
* Which assets count and which don’t?
* What is the maximum amount of income a person can have and still qualify?
* When does someone apply?
* How long does the application process take?
* Do you have to be broke to qualify for Medi-Cal?
“Don’t Go Broke Paying the Nursing Home” (ISBN: 978-0988902619) explains Medi-Cal Recovery procedures.
“Most people don’t realize Medi-Cal is effectively a loan from the State of California,” explains Kim. “If proper steps aren’t taken, the state will place a claim against the home and other assets.”
California’s regulations covering the aging population can be difficult to keep up with. That becomes apparent in a care crisis – when what a family has “done wrong” can come back to bite them – financially and logistically.
The book is available in paperback and Kindle on Amazon: http://amzn.com/0988902613 .
About Author Karl Kim:
Karl Kim, CFP, CLTC, is the founder of Retirement Planning Advisors, California’s first firm dedicated to retirement crisis planning and pre-planning. Info: http://www.KarlKimCo.com/ .