Long Term Care Insurance involves Proper Planning

Long Term Care Insurance involves Proper Planning for our future health care needs is vital to protecting our assets and retirement incomes that you’ve worked so hard to achieve and to provide the quality of care that you desire and deserve to have.

Choosing a Long Term Care insurance policy is an important decision.

The chance of needing long term care is high.  According to the latest statistics, once seniors reach the age of 65 or older, over 70% of seniors will need and receive some type of long term care services. On average, most seniors will need long-term care services for at least 3 years.

Long Term Care services can be expensive. According to the latest Genworth Financial statistic data, the average daily nursing home rate for Asheboro, North Carolina and surrounding areas is between $205-$262 for a private room and $190 -$239 for a semi-private room.

Also according to this data, Home Health Aide and Homemaker Services hourly rates for Asheboro, North Carolina and surrounding areas is $15-$19. Adult Day Care Centers provide services for seniors at a charge of $22-$90 per day.

Genworth Financial also states in this data that Assisted Living Facilities charge seniors on average here in Asheboro and surrounding areas $2100-$4500 per month for one bedroom-single occupancy rooms.

80% of all long-term care services is provided at the senior’s home not inside a nursing home according to the U.S. Department of Health and Human Services.

Long Term Services can be received at:

  • Your Home
  • Nursing Homes
  • Assisted Living Facilities
  • Adult Day Care Centers
  • Retirement Communities

As you can see, the cost for long-term care services in North Carolina can be expensive and provides a major burden for many families having to figure out how to pay for these necessary services.

Some people think the government will take care of ALL of their long-term care needs! But Medicare pays only for a limited amount of care to help people recover from an illness or injury(skilled nursing care-100 lifetime days). After that, Senior’s are on their own.

Medicaid is a program of last resort for people with limited assets. That means spending down assets in order to quality.

Question: Does Medicaid patients receive the same type of “treatment” and “personal” care that seniors get that have long-term care insurance?

Purchasing Long Term Care insurance early, allows seniors to get the proper care and attention they truly deserve. Long-Term Care insurance provides benefits to seniors that enable many of them to stay at their own home and receive personal care that simply put, nursing homes can’t provide.

To help purchase Long Term Care insurance, the federal government gives some great Tax Deductions (see chart below) to encourage seniors to purchase this type of valuable protection.

McLeod Insurance Agency has been serving residents of Asheboro and surrounding areas since 1971. We provide FREE Consultations and provide FREE Local Claim Assistance. Rest assured, McLeod Insurance Agency is your LOCAL source for Medicare and Long-Term Care Insurance products.

For a no obligation long-term care insurance quotation, please give us a call.