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Chances of needing Long Term Care




70% of people turning can expect to use some form of LONG-TERM CARE during their lives. 90% of those who receive long-term care assistance live at home.3 Who Needs Long-Term Care? Everyone should have a plan for long-term care. And with Americans living longer than ever, this could mean needing some extra help with everyday activities as you age. The benefits of long-term care insurance go beyond what your health insurance may cover by reimbursing you for services needed to help you maintain your lifestyle if age, injury, illness, or a cognitive impairment makes it challenging for you to take care of yourself. Long-term care may benefit: Families who want to help protect their loved ones, lifestyle, and assets. Retirees and Pre-retirees wanting to preserve the money they have worked so hard to save. Individuals who may not have someone to care for them or significant assets to pay for these costs. How Much Does Long-Term Care Cost? It is impossible to predict your chances of needing long-term care, or how long you may need it. And since cost of care can be expensive, it is important to understand the financial impact a few years of long-term care can have. Nursing Home Care: The average cost of a year’s care in a private Medicare-certified long-term nursing home room is $104,0003 Home Care: The average in-home care costs $49,920 a year for 40 hours of help per week.3 Assisted Living Care4: A year in an assisted living care facility averages $57,000 per year. The Government and Long-Term Care Many think that government programs such as Medicare and Medicaid will pay for all of their future long-term care needs. Surprisingly, they may only pay for some of these services and have many restrictions. Medicare: May cover a maximum of 100 days of services after a hospital stay.1 Coverage is designed to assist people during a short-term recovery and doesn’t include personal care or supervision services. Medicaid: If you have limited assets and income and are relying on Medicaid, the state may make key care decisions on your behalf, including where you receive the care you need. 1 2019 US Department of Health and Human Services (www.longtermcare.gov) 2 Edem Hado and Harriett Komisar, “Long-Term Services and Supports.” AARP Policy Institute, August 2019 3 New York Life Cost of Care Survey, 2018. 4 Known as Residential Care Facility in CA Chances of needing Long-Term Care: 70% of people turning can expect to use some form of LONG-TERM CARE during their lives. 90% of those who receive long-term care assistance live at home.3 Who Needs Long-Term Care? Everyone should have a plan for long-term care. And with Americans living longer than ever, this could mean needing some extra help with everyday activities as you age. The benefits of long-term care insurance go beyond what your health insurance may cover by reimbursing you for services needed to help you maintain your lifestyle if age, injury, illness, or a cognitive impairment makes it challenging for you to take care of yourself.

Long-term care may benefit: Families who want to help protect their loved ones, lifestyle, and assets. Retirees and Pre-retirees wanting to preserve the money they have worked so hard to save. Individuals who may not have someone to care for them or significant assets to pay for these costs.

How Much Does Long-Term Care Cost?

It is impossible to predict your chances of needing long-term care, or how long you may need it. And since cost of care can be expensive, it is important to understand the financial impact a few years of long-term care can have.

Nursing Home Care: The average cost of a year’s care in a private Medicare-certified long-term nursing home room is $104,0003 Home Care: The average in-home care costs $49,920 a year for 40 hours of help per week.3 Assisted Living Care4: A year in an assisted living care facility averages $57,000 per year. The Government and Long-Term Care Many think that government programs such as Medicare and Medicaid will pay for all of their future long-term care needs. Surprisingly, they may only pay for some of these services and have many restrictions. Medicare: May cover a maximum of 100 days of services after a hospital stay.1 Coverage is designed to assist people during a short-term recovery and doesn’t include personal care or supervision services. Medicaid: If you have limited assets and income and are relying on Medicaid, the state may make key care decisions on your behalf, including where you receive the care you need. 1 2019 US Department of Health and Human Services (www.longtermcare.gov) 2 Edem Hado and Harriett Komisar, “Long-Term Services and Supports.” AARP Policy Institute, August 2019 3 New York Life Cost of Care Survey, 2018. 4 Known as Residential Care Facility in CA

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Chances of needing Long-Term Care:


70% of people turning can expect to use some form of LONG-TERM CARE during their lives.

90% of those who receive long-term care assistance live at home.3


Who Needs Long-Term Care?


Everyone should have a plan for long-term care. And with Americans living longer than ever, this could mean needing some extra help with everyday activities as you age. The benefits of long-term care insurance go beyond what your health insurance may cover by reimbursing you for services needed to help you maintain your lifestyle if age, injury, illness, or a cognitive impairment makes it challenging for you to take care of yourself.

Long-term care may benefit:


Families who want to help protect their loved ones, lifestyle, and assets. Retirees and Pre-retirees wanting to preserve the money they have worked so hard to save. Individuals who may not have someone to care for them or significant assets to pay for these costs.


How Much Does Long-Term Care Cost?


It is impossible to predict your chances of needing long-term care, or how long you may need it. And since cost of care can be expensive, it is important to understand the financial impact a few years of long-term care can have.


Nursing Home Care: The average cost of a year’s care in a private Medicare-certified long-term nursing home room is $104,0003 Home Care: The average in-home care costs $49,920 a year for 40 hours of help per week.3 Assisted Living Care: One year in an assisted living care facility averages $57,000.

The Government and Long-Term Care

Many think that government programs such as Medicare and Medicaid will pay for all of their future long-term care needs. Surprisingly, they may only pay for some of these services and have many restrictions.

Medicare: May cover a maximum of 100 days of services after a hospital stay.1 Coverage is designed to assist people during a short-term recovery and doesn’t include personal care or supervision services.

Medicaid: If you have limited assets and income and are relying on Medicaid, the state may make key care decisions on your behalf, including where you receive the care you need.

1 2019 US Department of Health and Human Services (www.longtermcare.gov) 2 Edem Hado and Harriett Komisar, “Long-Term Services and Supports.” AARP Policy Institute, August 2019 3 New York Life Cost of Care Survey, 2018. 4 Known as Residential Care Facility in CA
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