What is long-term care?
Long-term care is the type of care you or someone in your family may need if you no longer can take care of yourself. For example, if you needed help getting dressed, eating, or bathing
Where do I fit in?
The average American can expect to live 20-30 years more after retirement. It's nice to know that after so many years of laboring at the workplace, we'll have the time to enjoy and pursue our hobbies and interest. But the major concern these days is whether we will be able to afford this lengthy retirement. You should ask yourself:
- What would my family do today if I needed some type of long-term health care?
- Would they be able to care for me at home?
- Would they need help?
- What if I needed nursing home care?
- How would we pay for all this?
How about my family?
On average, Americans now have more parents than children. In fact, they will spend more years caring for their parents than they will raising their children. As a result, learning to care for our older family members without overburdening ourselves has become one of today's major concerns.
Where could I receive long-term care?
Nursing homes are the first place people associate with long-term car. But one of the major benefits of planning for long-term care is that you can decide where you would like to receive your care. Aside from nursing home care, there are assisted-care living facilities, adult day care centers and home health care providers.
Can I expect to receive help from major medical, Medicare and Medicaid programs?
Not much, if at all. Major medical insurance and Medicare, as well as Medicare supplements, are designed to pay for hospital, physician, surgical, rehabilitation, outpatient, and treatment expenses. These coverage's were never designed to pay for long-term care. They cover long-term care when it is at the skilled level (acute care requiring nurses). Medicaid does pay for long-term care at the custodial level. However, to qualify for Medicaid you must have $2,000 or less in assets, not including your home and personal items (this amount could vary by state).
Is there anything I can do today?
In order to help ensure financial security, you must begin to plan today. Most people don't begin until it's too late. The simple truth is, the closer you are to retirement, the greater your risk and need.
Long-term care insurance can help secure not only your financial future, but also that of your family and loved ones. A long-term care insurance policy can help protect your assets from the rising cost of care, allowing you to remain financially and socially independent.
Long term care is a growing concern among adults over 50 years of age. Let our office place you with top rated companies in this field. Protect your assets, preserve your financial independence, maintain personal control over your life and avoid dependence. Call us today for competitive premium
*We are licensed to write insurance in Massachusetts only.