MORE ABOUT LONG TERM CARE

Nobody plans to get sick or injured, but the reality is that as we age, we will experience age related issues. 70% of seniors will need Long Term Care related services at some point during retirement. Health Issues can quickly become overwhelming and financially crippling if you're unprepared.

LONG TERM CARE IS NOT COVERED BY MAJOR MEDICAL INSURANCE OR BY MEDICARE!

There are three ways to pay for long term care services...

Medicaid

The rules for Medicaid are very strict. You must meet certain income and asset eligibility guidelines to be approved. If Medicaid pays for part of your Long Term Care, they could recoup their losses from your estate if you don't protect your assets properly.

Your Own Funds

  • Savings

  • Retirement Account

  • Family

  • Friends

  • Reverse Mortgage

  • Liquidate Assets

AVERAGE ELDER CARE EXPENSES

Over 70% of seniors will need long term care services at some point!

How much can the average couple expect to pay in out of pocket medical expenses throughout retirement?

$250,000

How much will the average Alzheimer's patient pay in out of pocket medical expenses over their lifetime?

$400,000+

The average cost for one year of home health care services is over

33,000!

The average cost for one year in an assisted living facility is over

$57,000!

The average cost for one year in a skilled nursing facility is over

$100,000!

LONG-TERM-CARE SOLUTIONS

Each individual and situation is different. It's best to consult with a professional before deciding on the option that's best for you. Reach out to us today for your assessment.

LONG TERM CARE INSURANCE POLICY

Pay's claims for home health, assisted living, rehab and skilled nursing. Coverage available for individuals & couples. Best overall comprehensive coverage but also the most expensive.

HYBRID LTC INSURANCE POLICY

Placed as a rider on another life or annuity policy. Not as robust as plan #1 but less expensive and you still maintain death benefit or annuity funds if LTC rider is unused.

RECOVERY CARE

FIXED INDEMNITY

This policy pays cash to you in the event of a qualifying illness or injury. This helps you maintain full control over where you are treated and by who. It allows for care in a nursing home, rehab center or home.

Introduction to Long Term Care

This video is brought to you by Mutual of Omaha