Long term care insurance important for retirement planning
People who are in the market for long term care insurance may want to consult resources such as the government's Medicare website before they settle on a policy.
According to the website, long term care is generally not paid for under the Medicare program, while Medicaid only pays for some of these services.
The website goes on to estimate that in 2009 alone, about 9 million Americans over age 65 will require long-term care services, with that number expected to rise to 12 million by 2020. People over age 65 are said to have a 40 percent chance of eventually entering a nursing home, about 10 percent of whom will spend five or more years there.
Medicare also notes that those who do prepare for possible long term care needs will find that their insurance covers things like home care, community programs such as adult day care, visiting nurses and assisted living, as well as nursing home stays.
People who are middle-aged are said to usually be able to find the lowest price for long term care insurance, while those in their 70s and 80s could be deemed too high a coverage risk by some carriers.
For more information on protecting your own future with long term care insurance, visit InsureMe.com today.
Recent News
-
8/30/2010
A recent government report should serve as a reminder to auto insurance...
-
8/29/2010
Long term care insurance may not be the only part of a successful retirement...
-
8/28/2010
Some Americans may suffer the misfortune of learning firsthand that even if...
-
8/27/2010
New research is driving home the importance of adopting healthy eating habits...
-
8/26/2010
Parents who are busy getting their college-aged children ready for the big move...
Wednesday, September 01, 2010
ShareThis