Understanding Long Term Care

To compound this problem, the cost of Long Term Care continues to rise as well. Consider these statistics:

 

  • $17,680: Median annual cost for adult day care (five days/week), 2016.

  • $43,539: Median annual cost for assisted-living facility, 2016.

  • $82,125: Median annual nursing-home cost, semiprivate room, 2016.

  • $92,378: Median annual nursing-home cost, private room, 2016.

 

Source: http://news.morningstar.com/articlenet/article.aspx?id=823957

Roughly 60% of all individuals will need Long Term Care sometime in their life. The problem is Medicare and traditional health insurance are designed to only deliver acute care – but many illnesses cannot be treated with this approach.  Illnesses like Parkinsons, Alzheimers, and MS to name a few.  Equally alarming  is the fact that the incidence of non-acute illnesses is currently on the rise. 

If you are like most people, you hear this information and think one of two things. The first is, I won’t be one of the 60%. My family history is good … I am never going to get a non-acute illness.  Think about this: Do you have home owner’s insurance? The chances of using it are 1/1200. But the odds of needing LTC are 720/1200 or 3/4. Does it not make sense to protect yourself when you KNOW your health will change as you get older?

In this series of classes, expert Aaron Eisenach will review the importance of planning for your long term care needs. Watch his introductory video then sign in to watch the whole series and learn how to prepare for this life stage and protect your family from the stress and financial burden long term care can become. 

Classes

For more information and to request a consultation, contact Aaron:

Handouts

To view more of Aaron's videos, subscribe to his YouTube Channel here:

All written and video content is for informational purposes only.  It is not intended to provide any tax or legal advice or provide the basis of any financial decisions.  Opinions expressed herein are solely those of Journey Financial Group, and our editorial staff. Material presented is believed to be from reliable sources; however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed in detail with your individual adviser or a qualified professional before making any financial decisions.  We are not affiliated with our endorsed by any government agency.

Investing involves risk including the potential loss of principal.

Advisory services are offered by Journey Investments, LLC DBA The Journey Financial Group a Registered Investment Advisor in the State of CO. Insurance products and services are offered through Journey Insurance, LLC. The Journey Financial Group and Journey Insurance, LLC are affiliated companies. The Journey Financial Group and Journey Insurance, LLC are not affiliated with or endorsed by the Social Security Administration or any government agency. Sellstate ACE Realty, American Family Insurance, Synergy One Lending, Lizknowsmedicare, and Budget Balance are not affiliated companies. The content on this website is for informational purposes only and should not be used to make any financial decisions. Exclusive rights to this material belongs to GPS. Unauthorized use of the material is prohibited. The presence of this web site shall in no way be construed or interpreted as a solicitation to sell or offer to sell insurance or investment advisory services to any residents of any State. Information provided is specific to the State of CO. Content should not be viewed as an offer to buy or sell any of the securities mentioned or as legal or tax advice. You should always consult an attorney or tax professional regarding your specific legal or tax situation. The Journey Financial Group is not engaged in the practice of law  or tax preperation. Hyperlinks on this website are provided as a convenience. We cannot be held responsible for information, services or products found on websites linked to ours.

 

Exclusive rights to this material belongs to The Journey Financial Group and GPS. Unauthorized use of the material is prohibited.

© Copyright 2018 The Journey Financial Group. All rights reserved.