Long-Term Care & Health Planning
Long-term care expenses may be one of the largest financial struggles for those trying to develop a retirement plan. The U.S. Department of Health and Human Services estimates that 70% of people over age 65 can expect to need long-term care services at some point in their lives (U.S. Department of Health and Human Services, 2019). Long-Term care is defined as medical and non–medical services needed by any person who has a chronic illness or disability, especially those challenges that come with aging. Medicare may not necessarily provide enough for you to get the care you need, and with a higher life expectancy in the U.S., the cost of healthcare can be unpredictable. We want to make sure that you’re prepared as early as you can be, for any sort of medical concern that may arise in your future.
Here are some Long-Term Care FAQs we routinely address:
- What are the types of Long-Term Care?
- What are the financial implications of each?
- How to search for Long-Term Care
- How to make the transition to Long-Term Care
- What are my options to pay for it?
- How do I know it is time to consider Long-Term Care?