Navigating the Shifting Terrain of Long-Term Care Insurance
If you’re like most people, you probably hope to live in your home in good health without assistance as you age. However, a majority of older adults won’t be able to get by without some assistance due to chronic illness and cognitive or mobility issues.
If you’re like most people, you probably hope to live in your home in good health without assistance as you age. However, a majority of older adults won’t be able to get by without some assistance due to chronic illness and cognitive or mobility issues.
How Life Insurance Can Help Pay for Long-Term Care
The average U.S. national median cost for long-term care is around $49,000 for a home health aide, $45,000 for an assisted living community and $97,000 for a skilled nursing private room, according to the Genworth 2017 Cost of Care Survey. Those high costs prompt many people to purchase long-term care insurance to cover long-term care expenses.
The average U.S. national median cost for long-term care is around $49,000 for a home health aide, $45,000 for an assisted living community and $97,000 for a skilled nursing private room, according to the Genworth 2017 Cost of Care Survey. Those high costs prompt many people to purchase long-term care insurance to cover long-term care expenses.
4 Medicare Myths Around Long-Term Care
Maybe you’re looking forward to freeing yourself from private health insurance premiums when eligibility for Medicare, the federal health insurance program, kicks in at age 65. Or, perhaps you already have Medicare and assume that all your healthcare costs are covered, even in-home care and long-term care costs.
Maybe you’re looking forward to freeing yourself from private health insurance premiums when eligibility for Medicare, the federal health insurance program, kicks in at age 65. Or, perhaps you already have Medicare and assume that all your healthcare costs are covered, even in-home care and long-term care costs.