Long term care refers to the kind of care or help you might need for conditions related to the natural course of aging, or to an accident, disability, chronic illness, or cognitive impairment, like Alzheimer's disease. It is the type of care you need when you are unable to care for yourself, and it includes both institutional, home, and community-based care services. Long term care insurance can help protect your independence, and personal and financial security by providing benefits that pay for a variety of long term care services.
70% of people turning 65 can expect to use some form of Long-Term Care during their lives.1 80% of those who receive Long-Term Care assistance live at home or in a community setting.2
The annual cost of long term care for a private pay semi-private bed can exceed $150,000 in metropolitan areas (which is the average cost of care in Connecticut).3 Medicare covers little of these costs, if any, and Medicaid pays only when personal assets are exhausted.
Please contact us to discuss your needs today.
1 2015 US Department of Health and Human Services
2 Congressional Budget Office (2013) Rising Demand for Long-Term Services and Supports for Elederly People
3 State of CT, Office of Policy and Management, Cost of Care Report, 4/4/2017