Long Term Care Planning is prudent and fiscally responsible.
Long Term Care is a rapidly mounting challenge facing society. The cost of Long Term Care surprises most people. It can rapidly deplete assets and affect families in many ways. Planning in advance – before health changes – is the best way to lock-in affordable solutions and protect assets and loved ones.
Good-Thrift’s goal is simple – help protect families from the financial and emotional burdens of long term care.
Click here or on the image below to read Kiplinger’s The Most Asked Questions About Long Term Care.
$41,400 per year is the national average cost for assisted living; $83,950 for a private room in a skilled nursing facility. In-home care averages $37,400 per year for just one assistant at 40 hours per week. Costs are rising at 4-5% compounded and are expected to double in ten years.
Medicare and major medical insurance do not pay for long term care.
To qualify for Medicaid coverage, you must spend your assets down to $2,000 and have little or no income. There is a 5 year look-back on assets gifted to children. As State budgets become increasing strained, states are considering reinstating filial responsibility laws that require children to provide care for their impoverished parents.
Are you and your parents prepared? Contact Us to learn more – at no obligation.
Will I qualify for Long Term Care Insurance?
