As the oldest Baby Boomers begin to wind through their 60s, one of the biggest concerns may not be outliving income, but rather outliving good health.
For seniors, home health care can cost $50,000, $60,000, or more per year, and nursing home care can run as high as $80,000 per year. Does your retirement income plan account for this kind of possibility? Would you be prepared for twice that number as a married couple?
Having a Plan in Place
Considering that you have to exhaust virtually all of your financial means before Medi-Cal / Medicaid will pay for long-term care and neither your employer group health insurance, major medical insurance nor Medicare will cover long-term care, it’s critically important to plan ahead in order to plan for these potential expenses.
We can help evaluate your situation and determine if purchasing a long-term care insurance may be the right move to help insure your financial future.