Long-Term Care Insurance
Another way to fund care is through long-term care insurance. You may already have some form of long-term care insurance in place like an employer-sponsored plan if your job offers it; otherwise, you can find an individual policy to cover your needs. Long-term care insurance is an excellent way of providing for future care. You will be able to select how much coverage you want and what type (or types) of expenses it covers. This includes daily living activities like dressing and eating as well as skilled care.
If you are able and willing to take out a policy, it may be worth considering. Policies can range in cost from $2,500 per year for a couple in their mid 50’s, to $14,000 per year for a couple in their early 70’s.
Even if you are not able to purchase insurance, there are various ways of planning ahead for future care needs. Contact us today to learn about the options available for your Home Care needs.
Some of the plans we work with are: