Long-Term Care Strategies

As the oldest Baby Boomers begin to wind through their 60s, one of the biggest concerns may not be outliving income, but outliving good health.

For retirees, home health care costs can be $50,000 or more per year and nursing home care can run as high as $93,000 per year.* Does your retirement income strategy account for this kind of possibility? Would you be prepared for twice that amount as a married couple?

Considering that Medicare does not cover long term care costs, you may have to reduce your financial assets before Medicaid will pay for long-term care, and your employer group health insurance will not cover long-term care, you may want to consider planning ahead for these potential expenses.

There are several solutions to long term care as illustrated here:

After we discuss your long term care preferences and expectations, we can help you make an informed and intelligent decision on how best to pay for long term care costs and protect your assets before the need arises.

*Genworth 2016 Long Term Care Costs