Long Term Health Care Insurance is a necessity if you have someone who will need to live off your retirement assets once you are deceased. Why?
Because if you are forced to have In-Home healthcare, Residential care or Nursing Home care for any length of time, then you are not only risking running out of assets during your life but also with leaving your dependent impoverished!
Did you know that:
Those are some sobering statistics aren't they?
Did you also know that Medicare generally doesn’t pay for long-term care?
While Medicaid requires the recipient to be impoverished to receive assistance? (In my state, the recipient cannot have over $999.00 in Total Assets...and you can't have moved any assets from the recipient to someone else or a trust in the previous 5 years!)
So, now do you see why the Ol' Boomer recommends Long Term Healthcare Insurance?
.....and NO, THE OL' BOOMER IS NOT ASSOCIATED WITH THE INSURANCE INDUSTRY in any way except as a consumer. OK?
Here's an article from the Kaiser Health News a publication of the Kaiser Family Foundation that details retiree health care costs in general including long term healthcare.
If you have any "war stories" or thoughts regarding the need for Long Term Health Care Insurance, please Share Your Thoughts with us in the area below.
Do you have knowledge or experience with this subject that may be of help to others? Please, Share Your Thoughts with all of us.
Thank you, the Ol' Boomer.
Where to go now?
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