Long Term Care

Long Term Care

Long term care refers to a host of services that aren’t covered by regular health insurance. This includes assistance with routine daily activities, such as dressing and bathing. It also covers the cost of care needed due to severe cognitive impairment (such as the the dysfunction caused by Alzheimer’s disease). Most policies will reimburse you for care given in a variety of places, such your home, a nursing home, an assisted living facility or an adult day care center. This care can be very expensive, and is a great threat to financial security in retirement.

The longer we live, the more likely it is that we’ll need extended care before we die. So, a healthy 55-year old may have as high a risk of needing long term care as an unhealthy 55-year old, because the healthy person has the longer life expectancy.

Most people underestimate the risk of needing long term care. Leading research tells us that more than half (52%) of Americans turning 65 today will need extended care.

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