The Insurance Plan That Has Your Medical Expenses Covered
Purchasing long-term care insurance is one way to save and prepare for your retirement. At Senior Medicare Solutions, we offer insurance policies that can help you cover the expenses of home care services, assisted living facilities, or others.
Importance of Having Long-Term Care Insurance
According to a recent American Association of Retired Persons (AARP) study, by the time you reach 65, there is a 50% chance that you’ll need long-term care (LTC) insurance.
If you pay out of pocket, you’ll spend $140,000 on average. Most Americans haven’t planned for this kind of financial risk.
Only 7.2 million of them have LTC insurance, which covers the costs of a nursing home, assisted living facility, or in-home care services.
Long-term care insurance covers the expenses that are not covered by Medicare. “Long-term care is the unsolved problem for so many people,” says Christine Benz, director of personal finance at Morningstar, an investment research firm in Chicago.