This year, like many others, millions of families around the US will sit down to a delicious Holiday feast, filled with laughs, stories, and family warmth. This year, when looking around the table, there are some numbers you need to think about.
1 in 9
1 in 4
2 in 3
According to the Alzheimer’s Association, 1 in 9 people age 65 and older develop Alzheimer’s. At age 85, that number jumps to almost one out of three.
Long-term care insurance can help cover the rising costs of care for people that develop Alzheimer’s and require treatment in a nursing home. Medicare does not cover this kind of health care setting. Long-term disability insurance does not cover this type of care either.
With annual care costs trending upward to $150,000 for a private room, if you don’t have a substantial nest egg set aside for long-term healthcare expenses of 2 years or more, it can ruin a family financially and emotionally.
The Society of Actuaries says that almost 1 in 4 long-term care insurance claims is from services received by people suffering from Alzheimer’s.
Industry statistics also show that nearly 2 in 3 people will require some form of long-term care assistance at age 65 and up. Maybe this year, it is time to talk openly with the family about plans to receive care when they can no longer do for themselves.
Putting a simple plan in place is easy, and getting professional guidance is no cost. The specialists at California Long Term Care Insurance Services are available to help you understand how to have “the talk” at no cost and no obligation to you.
In fact, they have put together a great report that you can get free right now that will give you great information on planning for long-term care needs, with affordable long-term care insurance options.
Fill out the short form to the right, download your guide and start “the talk”!