Long Term Care Insurance (LTC) is the medical care provided when a person can’t care for themselves for a significant period of time.
A person can receive long term care in their home or in assisted living homes. Caregivers help with the daily tasks that may be difficult to perform alone – including help with dressing and bathing. Anyone of any age can benefit from long term care, but most is provided for senior citizens.
How Much Does Long Term Care Cost Without Insurance?
Long term care can be very expensive. Depending on the services you need, costs could be between $20,000 and $77,745 a year. In some parts of the country it could be more.
Estimated Annual Care Costs for Texas in 2016
Most people can’t afford medical expenses that large without spending their life savings. That’s why people buy long term care insurance. And long term care insurance is a smart way to protect yourself.
Will I Need Long Term Health Insurance?
It is estimated that 70% of people over the age of 65 will require some period of ongoing assistance at some point in there lives.
You may think Medicare and Medicaid will cover all of your long term care needs. But these programs only cover temporary, medically necessary care. That means long term care has to be paid for out of your own pocket, with bills sometimes ending up just too large to manage.
How Can I Protect Myself?
Because long term care can be very expensive, it’s important to protect yourself from big medical bills.
That’s why so many people find a long term care insurance plan. By spending just a little money on insurance premiums now, you can make sure you’ll have care for the future. It’s important that you know what to look for, and find a plan that will fit your needs. With our free quote service, we’ll help you make an informed and educated decision to protect your self and your family.