There are a lot of emotions when a loved needs care, long term care insurance can help take the emotion of money out of caregiving.
More and more we are hearing of celebrities that have been affected with a long-term illness. No one is immune to chronic illness!
With the Advances in medical science:
The end result equals more and more of us will require help with everyday living activities in the years ahead!
52% of people turning age 65 will need some type of long-term care services in their lifetimes.
While people of all ages need long-term care, the likelihood of needing care grows as people age.
Long Term Care Insurance can fund care in the comfort of your home.
Medicare: Medicare doesn’t cover long-term care (also called custodial care), if that's the only care you need. Most nursing home care is custodial care. You pay 100% for non-covered services, including most long-term care. Source: Medicare.gov
Medicaid: Medicaid pays for about 50% of all long-term care costs. However, Medicaid is designed for those with little income and assets. Oftentimes, families are expected to “spend-down” their assets in order to qualify.
Health Insurance: Health insurance does not pay for long-term care.
Source: Survey by Mutual of Omaha
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