At a glance
- Guardian produced the report with Annette Hammortree, owner and CEO of Hammortree Financial Services in Crystal Lake, Illinois.
- Guardian estimates roughly 19 million U.S. children have special health care needs.
- Advisors can help these families check eligibility for Supplemental Security Income and Medicaid, build a long-term care budget and keep the parents' own retirement funded, Hammortree said.
43% of caregivers raising a child with special needs rate their financial health as fair or poor, InvestmentNews reported, citing a Guardian Life Insurance Co. of America report on special needs planning.
Only 33% of those caregivers work with a financial advisor, and just one in four has a will, according to the report. Guardian produced the report with Annette Hammortree, owner and CEO of Hammortree Financial Services in Crystal Lake, Illinois.
Guardian estimates roughly 19 million U.S. children have special health care needs.
Advisors can help these families check eligibility for Supplemental Security Income and Medicaid, build a long-term care budget and keep the parents' own retirement funded, Hammortree said. Schools typically provide resources until a child turns 22, she said, after which access to services becomes harder, and Medicaid waiver programs pay for many residential and day programs.
Reported by the Tax & estate planning desk from InvestmentNews. Published . Corrections