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LONG TERM CARE
Relieve The Worry Of Outliving Your Money
Classic Case Of Denial
• 50% of Americans above age 40 believe almost everyone will need long-term care.
• Just 25% believe they will need it themselves.
* PBS Survey 2014
What Care Costs In NC
• 2016 Nursing Home: Semi-private $79,927• 2041 Nursing Home: Semi-private $167,349
• 2016 Home Health: $26,351• 2041 Home Health: $55,173
(ex. 55 year old 80 year old)
Myth #1 It Won’t Happen To Me
Reality: 70 % of all individuals turning 65 will need some form of long-term care during their lifetime.** US Dept. of Health & Human Services 2014
Myth #2 Medicare & Medicaid Cover Me
Reality: Medicare only covers a portion of nursing homes up to 100 days* and no long-term care. And Medicaid is only available to those with limited assets and income.* Medicare & You. www.medicare.gov 2015
Myth #3That’s What My Savings Are For
Reality: The national average cost for a private room in a licensed nursing home is over $97,000 per year. Financial professionals estimate that clients facing an unplanned care event may spend their savings 2-3 times faster than planned.*
* Hanover Research & Lincoln Financial Group 2014
Myth #4My Family Will Be Able To Care For Me
Reality: Women caring for ill parents are twice as likely as non-caregivers to experience depression or anxiety. And the overall cost to a female caregiver is estimated at almost $325,000 because of lost wages and diminished working hours.** Family Caregiver Alliance 2015
Long Term Care Options• Medicare• Medicaid• Long Term Care Ins.• Home Health Care Ins.• Life Ins. w/ LTC • Annuity w/ LTC • Self Pay
Conclusion• Healthy habits & lifestyle are very
important.• Look at the long term care coverage
options vs. your desires & budget.• Having a plan in place gives you options
and assures that your wishes are honored.• Get your plan together and share it.
Questions?
Ken ParsonTriangle Health Solutions
919-667-6896
