• December 21, 2014

A harsh reality: 7 in 10 people now turning 65 will need long-term care

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2 comments:

  • samwright posted at 3:43 am on Thu, Jan 2, 2014.

    samwright Posts: 1

    This is sad but true. More than half of the population of people who are 65 years old and above will require long term care according to the recent report found at ltcoptions.com. This is alarming since the cost of long term care is on the rise these days. Even your savings and other assets will not be enough to cover your long term care expenses. How expensive can long term care get? A stay in a semi-private nursing home for a year will cost you nearly $82,000. This amount is higher than what a middle-class family earns in a year. So it's really impossible for some people to pay for long term care straight from their pocket. The best way to deal with the expensive cost of care is by purchasing long term care insurance. In this way, you can pay for your expenses without exhausting your funds.

     
  • Mamma Griz posted at 7:11 pm on Wed, Dec 11, 2013.

    Mamma Griz Posts: 259

    And be sure that your long term insurance will cover a long stay in an assisted living facility. Those are not classed the same as nursing homes. I thought I had benefits for assisted living care for my lifetime. Guess what. It ain't so. My benefits for assisted living are for only two years-- that is a community facility.