Not sure where to start in your planning for long-term care? Let us help you.
We are all now living longer and longer because of the advances in medical science. The financial costs and burdens of aging should be addressed in your retirement plan. The US Department of Health and Human Services says 7 in 10 of us who reach the age of 65 will need some type of Long Term Care service before we pass. The vast majority of the costs of extended care are not paid by health insurance, or Medicare or Medicare Supplements. Medicaid will pay only if a person is poor or has exhausted their assets.
The default family caregivers, daughters or daughters-in-law, have their own families and careers and the burdens created are tremendous. Affordable Long Term Care Insurance will safeguard income and assets from the consequences of aging. If you are a Generation X or Boomer act now, before you retire, and see if LTC insurance is appropriate.