Everyone should have a plan for long-term care.  And with Americans living longer than ever, this could mean needing some extra help with everyday activities as you age.

Long-term care may benefit:

  • Families who want to help protect their loved ones, lifestyle and assets.
  • Retirees & Pre-retirees wanting to preserve the money they have worked so hard to save.
  • Individuals who may not have someone to care for them or significant assets to pay for these costs.

 Research shows 70% of adults incorrectly believe Medicare and Medicaid will cover the cost.  Surprisingly, they may only pay for some of these services and have many restrictions.

  • Medicare: May cover a maximum of 100 days of services after a hospital stay.  Coverage is designed to assist people during a short-term recovery and doesn’t include personal care of supervision services.
  • Medicaid: If you have limited assets and income and are relying on Medicaid, the state may make key care decisions on your behalf, including where you receive the care you need.

How much does long-term care cost?  It’s impossible to predict your chances of needing long-term care, or how long you may need it.  And since cost of care can be expensive, it’s important to understand the financial impact a few years of long-term care can have.

  • Nursing Home Care: The average cost of a year’s care in a private Medicare-certified long-term nursing home room is $95,707.
  • Home Care: The average in-home care costs $45,468 a year for 40 hours of help per week.
  • Assisted Living Care: A year in an assisted living care facility averages $49,668 per year.

Contact a qualified representative at NAUGHT-NAUGHT AGENCY for a no-obligation consultation as well as coverage and costs reviews.