Long Term Care Expenses
Planning for the Unexpected
Significant unplanned health care expenses, including long term care, can upend anyone’s financial plan. How much might health care expenses be? How long will they last? What is the best way to pay for them? We put numbers to these questions and introduce a solution set to help navigate the best potential course of action.
Why Plan for Care?
As people live longer and healthcare expenses continue to rise, the need for long-term care planning becomes more of a “when” than an “if” situation. According to the U.S Department of Health and Human Services, 70% of those age 65 and up will need some sort of long-term care. Women will need 3.7 years, on average, while males will need an average of 2.2 years. By planning, you can help reduce the emotional and physical strain on your loved ones.