Long-term care refers to ongoing services and support needed when people can’t care for themselves. Those extended care costs can be significant: In 2021, the average cost of skilled care at home was $216 per visit, the monthly rate at an assisted living facility was $4,500, and a monthly stay in a nursing facility was $9,034.2 Let me tell you the average costs here are much higher. You may think government programs will pay for your long-term care, but consider this: • Medicare only pays for long-term care in specific circumstances. • Medicaid, also known as medical assistance, has certain restrictions, based on your income and assets. If you think you’ll pay for long-term care, ask yourself:
That’s why it’s so important to start planning for your long-term care today. Start a long-term care conversation with your family and financial professional today. We have partnered with community resources to provide you the best in support. Ask our intake team how to complete a Care Plan screening so that you can get your resources. Find out more by registering for an upcoming class. |