Long Term Care Planning

As the oldest Baby Boomers begin to wind through their 60s, one of the biggest concerns may not be outliving income, but outliving good health.

For seniors, home health care can cost $50,000 or more per year1, and nursing home care can run as high as $80,0002 per year. Does your retirement income plan account for this kind of possibility?  Would you be prepared for twice that number as a married couple?

Considering that you have to exhaust virtually all of your financial means before Medicaid will pay for long-term care and neither your employer group health insurance nor major medical insurance will cover long-term care, it’s critically important to plan ahead in order to plan for these potential expenses.

We can help evaluate your situation and determine if purchasing a long-term care insurance policy may be the right move to help insure your financial future.

1 Genworth 2012 Cost of Care Survey: Home Care Providers, Adult Day Health Care Facilities, Assisted Living Facilities and Nursing Homes
http://reversepartner.genworth.com/content/etc/medialib/genworth_v2/pdf/ltc_cost_of_care.Par.38432.File.dat/Methodology_gnw.pdf

2 MetLife: The 2011 Market Survey of Long-Term Care Costs
https://www.metlife.com/assets/cao/mmi/publications/studies/2011/mmi-market-survey-nursing-home-assisted-living-adult-day-services-costs.pdf

Neither the Company nor its agents or representatives may give tax, legal, or accounting advice. Individuals should consult with a professional specializing in these areas regarding the applicability of this information to his/her situation.