THIS DAY IN HISTORY, President Johnson made history with the Signing of the Medicare Program into Law. On July 30, 1965, America was hoping for a brighter future.
President Johnson’s Vision for Americans
Here’s what President Johnson had to say about it that day. Let’s see how these words have held up over the last 56 years:
“No longer will older Americans be denied the healing miracle of modern medicine. No longer will illness crush and destroy the savings they have so carefully put away over a lifetime so they might enjoy dignity in their later years. No longer will young families see their own incomes, and their own hopes, eaten away simply because they are carrying out their deep moral obligations.”
QUESTION: Is this what’s happening? 😶
Reality for Americans
The Signing of the Medicare Program into Law was certainly monumental. And I have no doubt that its intentions were as President Johnson laid out. But let’s be honest… this isn’t at all what’s happening.
Families are loosing EVERYTHING to the high costs of long-term health care.
Generations are loosing everything. The average cost of long-term care in Tennessee is nearly $7,000.00 per month. At that rate, a person’s life savings and family home can be exhausted rapidly. In fact, 70% of Americans become impoverished within ONE YEAR of entering a nursing home. Now that’s a sobering statistic.
What Americans Can Do
Believe it or not, there IS A WAY to prevent that outcome!
However, it takes a little planning. And that’s the key word! PLANNING! Planning requires taking action ahead of time. Don’t wait until it’s too late!
I invite you to listen to my recent podcast about Medicare and Medicaid. Only two letters of the alphabet different, these programs are often confused or misunderstood. Mistaking one for the other could cost you everything! It is essential that you understand the differences here so you can be best prepared for your journey, whatever it holds!
A Note from the Attorney, Stan Pierchoski: The practice of law is a second career for me. After obtaining Master of Science degrees in both Nuclear and Mechanical Engineering, I worked in the Nuclear Power Industry for 15 years. Always having an interest in law, I attended and graduated from law school and founded the Pierchoski Law Firm in 2002 in Pulaski, TN. For several years I practiced as a criminal defense, trial attorney. After my parents passed I became interested in Trust and Estate Law and felt a strong calling to change my practice to the Estate Planning area. For years I have been exclusively doing trust writing and wealth planning and have become proficient at it. Over the last several years my practice has evolved to serve all age groups including Elder Law and Medicaid Planning. I am always open to your questions and am more than happy to chat with you about your concerns so give me a call or stop by my office. You’ll be glad you did!