Let’s look at a few statistics.
- 70% of all Americans who live to age 65, will require some form of Long-Term Care.
- The average stay in a Long-Term Care facility is about 2.5 years.
- The average cost of a semi-private room in a Florida nursing home is about $7,000 per month.
- Medicare doesn’t pay for Long-Term Care.
- Many Baby-Boomers have had to deplete their retirement accounts to help pay for their parents’ Long-Term Care.
- Long-Term Care insurance may be an option, if it is purchased while a person is still young and healthy.
- Other insurance options may be more beneficial, depending upon a number of health and financial factors.
Long-Term Care is never easy, but it doesn’t have to be a financial disaster. Know your options and have your plan in place. Contact us for a free consultation.