Breakfast seminar focuses on long-term healthcare planning for older Americans

MOUNT OLIVE TWP. - Because one of the leading healthcare issues facing older Americans today is long-term care, Gerrity, Baker, Williams Inc. (GBW Insurance) will sponsor a free breakfast seminar for those interested in this topic at the Hilton Garden Inn, Rockaway, on Thursday, May 3 from 7:30 to 9 a.m., featuring industry experts. “In 1900, if you reached 60 yourself, there was only a 4 percent chance that you and your spouse would have a parent still alive,” notes Glenn Tippy, president of GBW. “Now there is a nearly 40 percent chance that one or more of your parents will be alive when you hit 60.” Statistics reveals that life expectancies have risen to the 80s. Much of that extra time will be productive and enjoyable for most people. But the chance of needing some support in maintaining the quality of your life has also risen. Long term care costs now average more than $70,000 a year in northern New Jersey. And even that’s not enough for intensive home care. “The Medicare contribution to that cost is zero, nothing,” points out Tippy. Statistics also show that more than 40 percent of women will need long term support care in their lives, ranging from some assistance with some daily activities to custodial care. Can families provide that support, every day, even 24 hours every day? Howard Bielski, CPA, of Bielski & Bielski, will speak about tax and planning issues. Vincent Zullo of the International Planning Alliance will cover Long Term Care Insurance. Tippy will speak about issues and alternatives for long term care. “Various associates in our own practice have been through these issues; one caring for a mother with mobility issues, another managing a father through the ravages of Alzheimer’s disease, others dealing with stroke victims,” says Tippy. “We’ve seen some of the issues and answers ourselves. If you have questions, whether for yourself or others, please come.” To attend, call GBW Insurance, 973-426-1500, extension 112.