Will health insurance or Medicare would pay for extended long-term care services in the event that you needed them in the future?

The quick answer is NO.

November is Long-Term Care Awareness Month.

If you develop a chronic illness or become disabled and can no longer care for yourself for an extended period of time, you’ll need long-term care services.

And they aren’t cheap.

The median cost for a home-health aide for an eight-hour day is more than $44,000 a year, while nursing care in a facility with a private room has a median cost of almost $84,000 a year.1 As life expectancies increase, so does the duration of long-term care needs, and the financial burden may end up falling on your loved ones after you’ve run through your own life savings.

Video: Long Term Care 101

Contact me to discuss YOUR options.

1Genworth 2013 Cost of Care Survey, conducted by CareScout
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