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Mark Werner, owner of Cornerstone Advisors and certified financial planning professional, returns to ElderTalk with Joe Cordell to discuss the financial planning necessary for long-term care and how to preemptively prevent problems from occurring when you get older.

Attorney-CPA Joe Cordell and co-host Susan Arthur ask Mark about the how cashflow can affect long-term financial planning for long-term care. Joe talks about how Medicare will not pay for long-term care, and Mark recommends the use of a reverse-mortgage to prevent the need for Medicaid and assist in the payment for long-term care.

Mark talks about the sides of the problem involved in paying for long-term care costs: the spouse that is dealing with the health issue and the spouse that can find themselves left behind and in need of maintaining their standard of living.

Joe talks about how chronic disease management can factor into the call to action that should occur before an emergency does. Mark also talks about his experiences involving constraints and qualifications with Medicaid.