Skip to content

Long Term Care

Thinking Ahead

What is long term care (ltc) insurance

Are you looking for an insurance designed to pay for expenses you’ll incur if you are unable to care for yourself and need support? You should be concerned because no other insurance, including Medicare, pays for this kind of care and an unfunded Long-Term care event can ruin even the most carefully constructed financial plan. Learn more about Long Term Care insurance and why you may need it.

70% of People Over 65 will need Long Term Care*

If you’ve had a loved one who needed professional care, either from a nursing facility, assisted living center, or at home, then you may know how devastating the expenses can be. Consider these numbers:

  • Over the last 20 years, the cost of Long Term Care has doubled
  • After you turn 65, you have a 70% chance of requiring Long Term Care
  • A 1 year stay in a facility costs $71,512 on average
  • The average stay in a facility is 3 years
  • Medicare, in total, pays only about 10% of Long Term Care costs

*Source: ASPE Research Brief Revised Feb 2016

Medicare Pays For Only
About 10% Of LTC Costs