LONG-TERM CARE PLANNING MONTH

LONG-TERM CARE PLANNING MONTH

Long-Term Care Planning Month in October encourages seniors to take a look at their potential need for these services in the future. While no one can predict the future, Long Term Care Planning explores the options available should the time arise when the services would be needed.

#LongTermCarePlanningMonth

Long-term care incorporates services outside of medical care such as support for every day living and basic personal care. Medical insurance does not usually cover these services, so advanced planning to cover the services is needed. Advance planning offers seniors more choices and decision-making opportunities. When seniors plan ahead, they have more time to save for long-term care, too.

Reasons to Plan Ahead

  1. Nearly 70% of 65-year-olds will eventually require some form of long-term care services or support in their lifetime.

  2. The Age Cutoff: Long-term care insurance providers generally do not approve individuals over the age of 75 or those with debilitating pre-existing conditions, which is why planning early is so critical.

  3. Assisted living facilities can easily cost thousands of dollars a month, which can completely devastate standard retirement savings if a family hasn't budgeted for it in advance.

No one can predict the future, but we can protect it. Long-Term Care Planning Month in October is the perfect time to have hard conversations with your loved ones to protect your peace of mind.

HOW TO OBSERVE

  1. Visit with family and make a plan. Explore options and discover what is available and have an honest conversation about future wishes.

  2. If possible, sit down with a financial advisor or elder law attorney to look into long-term care insurance or asset protection.

  3. Review your family medical history to see if you have predisposition to specific medical problems, like dementia or Alzheimer's. Knowing this information will help you make decisions or create a specialized plan while you are still capable of making your own legal decisions.

  4. Use #LongTermCarePlanningMonth to share on social media to begin a conversation with others about planning.

HISTORY

We were unable to identify the source of Long-Term Care Planning Month