Navigating the Shifting Terrain of Long-Term Care Insurance

If you’re like most people, you probably hope to live in your home in good health without assistance as you age. However, a majority of older adults won’t be able to get by without some assistance due to chronic illness and cognitive or mobility issues.According to the U.S. Department of Health and Human Services, someone turning age 65 has nearly a 70% chance of needing some form of long-term care in his or her lifetime.How Expensive Is Long-Term Care?Long-term care is costly and prices vary by state.Here are U.S. national median annual costs for care provided in various venues, according to the Genworth 2017 Cost of Care Survey:Adult day health care: $18,200Assisted living facility: $45,000Home health aide: $49,192Skilled nursing private room: $97,455Don’t plan on Medicare being a funding option for long-term care, since Medicare will pay only for skilled services provided by medical professionals. For Medicare to pay any costs,

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