Options for Paying Long Term Care
It is important to plan for your future care. Most people in their fifties and early sixties don’t want to think about the possibility of needing help bathing, dressing or eating, but 70% of people over the age of 65 require assistance in two or more daily activities or need some type of long-term care. Here are some of the most common options for paying for long term care.
Out Of Pocket
Out of pocket or self-insurance means that you pay for all of your medical bills on your own.[…]
Affording Long-Term Care
Long-Term Care Costly
Long term care is very costly. Even if you have an insurance policy the premiums can be somewhat high. However, what some fail to realize is how much this will save you financially, once you need long term care. Long term care is almost impossible to afford if you don’t have a policy to help cover the expenses. Paying a monthly premium of a couple hundred dollars, or less, versus forking over almost 80K per year, is the difference between having coverage and not. Being able to pay for long[…]
Adults Worried About LTC Costs
Once you are getting close to retirement and long term care, many start to stress about the cost of long term care. Not being able to afford it is one of their biggest concerns. Many surveys suggest that many people will not be prepared financially to handle the impact of growing older will have on their finances.
According to an article published by insurancenewsnet.org they claimed that, “…only half of the respondents said they plan to take personal financial responsibility for their own care as they age. The others said they would leave that worry to the government, their children or[…]
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