By SCOTT WHIPPLE
Herald staff

FARMINGTON — When Larry Golfin’s grandmother needed long-term care during his teen years, he became acutely aware of the devastating costs and the burden on his family. It was then he decided to help people handle the need for long-term care.

Since then, Goflin has become an expert on the long-term care insurance and to help with people plan for their future and stay healthy, happy, and solvent for as long as possible, his company, LTC Financial Partners puts out “Caring is Sharing,” an eight-page newsletter that promotes healthy lifestyles and good planning. The newsletter offers ideas on extending life while protecting financial assets subject to health care drainage. Subscriptions are free on request.

“People are living longer than ever and they need help in doing it well,” Golfin said. Golfin is a partner of the Farmington company, an experienced insurance brokerage. “Sound financial protection, through estate planning and long-term care insurance, is vital, but people need lifestyle protection, too. That’s where our newsletter comes in. It offers tips on healthy living and making the most of the years ahead, as well as tips on affordable insurance.”

A recent issue included articles on:

n What states are doing to help people with long-term care planning.

n New retirement choices for active Americans, in education, outdoor activities, hands-on hobbies, politics, and community service.

n How to qualify for money-saving group insurance plans, even if you’re not an employee.

n How to travel worry-free by making your home burglar-safe.

Each issue includes a healthy recipe and profiles of three insurance carriers with exceptional service records.

The four-color newsletter is available in print and downloadable formats. Subscriptions are available by calling (860)677-4075. Readers can also request competitive long-term care insurance quotes from six leading carriers.

Golfin, who has offered long-term care insurance exclusively since 1992, graduated from the Polytechnic Institute of Brooklyn with both a bachelor’s and master’s degree. He presents LTC seminars to various organizations and works with elder-law attorneys, CPAs and financial planners to aid their clients. He and his wife live in Farmington, where they raised two sons.

Questions and answers about long term care

Where is care provided?

Care is widely provided not just in nursing homes, which many people assume, but in a variety of settings.

n In one’s own home: Most long-term care recipients live with their families. About 1.3 million are cared for at home by paid helpers who provide skilled or unskilled care with basic personal activities. Another 5.5 million Americans receive unpaid help at home from family members.

n Skilled nursing facilities: Also known as nursing homes, these institutions are usually comprised of two separate units, one that gives skilled nursing care (which may be covered by Medicare), and one providing non-skilled or custodial care (which may be covered by long-term care insurance). The goal of the Medicare unit is to provide services needed to rehabilitate patients so they can go home. However, often patients are unable to return home and are moved over to the non-skilled or custodial unit.

n Assisted-care living facilities: Also known as assisted-living facilities or residential care facilities, these institutions provide non-skilled care for people who need help with daily living but can also provide much of their own care. These institutions are an alternative to nursing homes. The residents may live in apartments which they can personalize.

n Adult day care centers: These community-based services were developed to help people stay at home rather than moving prematurely into nursing homes. The centers offer custodial care during weekdays and sometimes on weekends too.

What does long-term care cost, and who pays?

The cost varies depending on state of residence and type of care. Nursing-home services currently average close to $70,000 per year. Costs are projected to rise dramatically in the years ahead and four options are available for paying. The individual needing care may rely on family, self-insure and pay for long-term care with one’s own assets and income, spend down all assets and then qualify for Medicaid, or buy a long-term care insurance policy.

Scott Whipple can be reached at swhipple@newbritainherald.com or by calling (860) 225-4601, ext. 319.