How Much Will My LTC Cost? | Monroe Township - Middlesex County
Website Home Contact Us Blog Archives Blog Home

Interesting Image
 
 
 

Would you like more information on:

 
 
 
Schedule a Phone Call
to discuss your planning needs!
Click to Schedule an Appointment







Website Home


Topics



Archives


Contact Information

Forsgate Commons
241 Forsgate Drive
Monroe, NJ 08831
PH: (732)521-WILL (9455)
FX: (732)521-1204
Info@LawEsq.net
www.LawEsq.net






How Much Will My LTC Cost?

June 12, 2019

Filed under: Estate Planning — Laura Pennington @ 12:56 pm

If you’re already thinking about your healthcare expenses, you’re one step ahead of most people. But how do you know what’s enough to save, when you should invest in LTC insurance, and how to truly prepare for your LTC expenses? It becomes all to easily to push this topic off entirely, but you can’t afford to make that mistake.

Illustration depicting a sign with a long term care concept.

Planning ahead is key since most people over age 65 will need more form of long term care support in their older ages. Tasks of daily living might require assistance from an outside party- whether that’s a family member or someone in a nursing home or assisted living.

According to government studies, men will need this help on average for 2.2 years, while women will need it for 3.7 Most people have to turn to unpaid care from their family members, but given that more than one-third of people will need a nursing home at some point in their life, it’s important to think about the possibility.

The expectation that Medicare will help is a common misconception. Given that premiums for LTC insurance can be over $3,000, would you rather invest in LTC insurance or risk having your personal savings tapped if and when you need care?

The cost of a nursing home is substantial- if you have not talked over a Medicaid crisis plan with your lawyer, now is the time.

Leave a Reply

Your email address will not be published. Required fields are marked *