FINANCIAL PLANNING SOLUTIONS TO LONG TERM CARE

Most people are in the dark about who pays for long term care when they or their loved ones are in a Nursing Home or require Home Health Care. So, who does pay for Long Term Care?

Medicaid & Medicare?

Yes, Medicaid will pay for home health care and nursing home care. But, in order to qualify you must be poor or literally impoverish yourself of all liquid assets. Medicare offers limited short-term care recovery benefits for skilled care only. There are simply too many restrictions for most people to qualify for Medicare.

Personal savings & family assistance?

Your personal savings may not be large enough to absorb the costs of long term care and still provide for your retirement and personal needs. High costs of long term care could easily deplete your personal savings and not everyone has a family member who would be willing or able to cover costs of Long Term Care. Don't be caught unprepared.

What is Long Term Care(LTC)?

Long Term Care is the care provided to an individual who, because of physical or cognitive impairment needs assistance with the basic activities of daily living, such as bathing dressing and toileting.

Can you afford to self-insure?

The current average annual cost of long term care in this area is $73,000.00 ($200.00 per day). The cost for care can be devastating! An individual or couple could lose their life savings in a very short period of time.

Call Retek Insurance Planning today to find the solution for Long Term Care for you or your family member.