Long-Term Care Planning
As the oldest Baby Boomers begin to wind through their 70s, one of the biggest concerns may not be outliving income, but outliving good health.
As the oldest baby boomers begin to wind through their 70s, one of the biggest concerns may not be outliving income, but outliving good health.
At-home care services average $20 per hour, and assisted living facility costs average $3,628 per month.1 Does your retirement income strategy account for this kind of possibility? Would you be prepared for twice that amount as a married couple?
Considering that you could have to reduce your financial means before Medicaid will pay for long-term care and neither your employer group health insurance nor major medical insurance will cover long-term care, you may want to consider planning ahead for these potential expenses.
We can help evaluate your situation and determine if purchasing a long-term care insurance policy may be the right move to help you feel confident in your financial future.
1 Genworth Financial. April 2016. “Genworth 2016 Cost of Care Survey.” Accessed Aug. 31, 2016.