Five Critical Things to Know about Long-Term Care

Many people mistakenly believe that Medicare will pay for long-term care. But Medicare provides only limited coverage for long-term care services such as skilled nursing care or physical therapy. And although Medicare provides some home health care benefits, it doesn’t cover the type of care older individuals most often need.

Long-Term Care

  1. What is it?
  2. Why is it important to plan for it?
  3. What does Medicare pay for?
  4. What does paying out of pocket really mean?
  5. What does insurance actually cost?

For many, the cost of long-term care can be expensive, absorbing income and significantly depleting personal wealth. Long-term care insurance can help you preserve your assets, making sure that you have enough money to retire, and guaranteeing that you’ll have access to a range of care options. Does it belong in your retirement planning?

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