HEALTH PROTECTION: LONG-TERM CARE
Long-Term Care Overview
Americans are now living longer. However, most seniors require some form of long-term care for their retirement.
Long-term care offers medical and non-medical support for seniors with chronic conditions and disabilities and provides them assistance with daily living. The benefit of having long-term care insurance is that it is much more flexible and provides more options than government healthcare insurance programs like Medicaid.
According to longtermcare.gov, an estimated 70% of people over the age of 65 will need extended healthcare service. This percentage can seem quite alarming. However, a long-term care policy can help reduce the burden of healthcare costs in your retirement years.
At Bobetich Retirement, we can help you choose the best long-term care option so that you can have control over your own healthcare in the future.
Many seniors already have Medicare and do not think they require more coverage when they turn 65. However, Medicare only covers skilled care, which includes medical diagnosis and tests, dispensing medication, etc. It does not cover custodial care, which offers day-to-day living assistance to seniors, such as household chores, grooming, eating, and more.
It is a smart choice to always prepare extended healthcare for your future. Having an effective long-term care strategy can help you save hundreds of thousands of dollars and protect your loved ones from financial hardships in the future.
Long-Term Care Questions You Need To Ask Yourself
- Do you know of anyone who has had a stroke, cancer, or developed a cognitive impairment? Chances are, most of you know several people who have suffered from these illnesses.
- Was the illness expected? Nobody ever expects to get critically ill, but they happen to everyone in their senior years.
- Did a critical illness result in financial and emotional stress for your family? If your financial worries are reduced, your emotional worries will be reduced as well.
The fact is that having the right healthcare insurance in place to cover these costs will reduce a lot of stress for the person and their family.
