Long-term (or custodial) care and home health care are the fastest growing segments of the healthcare industry - but they are NOT covered by Medicare.
If Medicare Won't Pay for Long-Term Care, What Should I Do?
Long-term care can be tremendously expensive, and unfortunately, your options for covering it are limited.
Long-term nursing care can be very expensive – depending on where you live, costs can range between $60,000 and $200,000 per year. Yet most people don’t plan for the expense, and report that they hope not to need insurance to help pay for care in their later years. That’s probably wishful thinking.
According to the U.S. Department of Health and Human Services, roughly 70% of Americans over 65 will require some type of long-term care.
Long-term health insurance is a good idea to help protect against future health care costs that Medicare doesn’t pay for, such as extended home care, assisted living and nursing care. In a recent edition of the, ‘Medicare and You Guide’, it stated that, “….some insurance companies let you use your policy to pay for long-term care. Ask your insurance agent how this works. Also, you may choose to pay for long-term care through a trust or annuity”. Because typical LTC insurance plans have become so expensive certain companies have blended new products to give you long-term care benefits where you can be covered for an average of 5 years or more.
Learn more about these programs; request a copy of our exclusive guide just click on the following below:
'3 Easy Ways to Qualify for State Approved No-Cost Long-term Care & Cancer Coverage'.
*See Below: The Top 10 Reasons Why People Choose To Buy LTC Insurance