Long term health care is a category of health care for people who are
physically or mentally unable to care for themselves. Alzheimer’s, stroke,
diabetes, and just plain old age are common reasons people need long term care.
A fortunate few have already made long term care plans, perhaps including long
term care health insurance to cover the cost of long term care.
While 42 percent of people over the age of 65 require, or will require, long
term care, neither Medicare nor Medicare supplemental insurance cover the costs
of these services - neither in your own home nor in a nursing facility.
Worse yet, these long term health care services are tremendously expensive.
Many families have gone bankrupt trying to fund adequate long term care for
their loved ones.
Many retirement planning experts encourage retirees to carry long term care
insurance. Long-term care health insurance:
- Protects your retirement plan from financial ruin
- Is good asset protection planning so you can leave an estate for your
loved ones' benefit
- Assures you of long term health care treatment that meets the current
standards for long term care.