With approximately 30 million Americans turning 65 during the next ten years, it’s expected that by 2030 one in five people will be a senior citizen. This means the diagnosed rates of Multiple Sclerosis, Alzheimer’s, osteoporosis, and stroke are bound to increase as well.
While viable healthcare will take care of you now, how will you account for care in the long term?
The common misconception is that Healthcare or Medicare will take care of you as you age. The truth of the matter is Healthcare providers don’t pay for long term care – and there are severe income requirements in order to qualify for Medicare. Another misconception is that only the elderly will use this type of insurance. Accidents can happen to anyone, and Long Term Care is designed to protect people of all ages who are no longer capable of taking care of themselves.
According to the U. S. Department of Health and Human Services, the national average costs for long-term care in the United States in 2018 were:
- $245 a day or $7,441 per month for a semi-private room in a nursing home
- $275 a day or $8,365 per month for a private room in a nursing home
- $132 per day or $4,000 per month for care in an assisted living facility
- $22 per hour for a health aide
- $21 an hour for homemaker services
- $72 per day for services in an adult day health care center
Without Long Term Care Insurance, this additional expense could cause financial hardship for you and your family members.
At Mt. Pleasant Agency – Central Insurance, we are committed to helping you find affordable Long Term Care Insurance now, so you can secure your care in the future. Few of us actively look forward to a future spent in a nursing home or care facility, but if we don’t plan for our care now, we won’t have many choices down the road.
As it stands now, the cost of Long Term Care is underpriced. But, as the Baby Boomers inch closer and closer to retirement, the costs are projected to rise dramatically. Lock in your Long Term Care rates now.
Contact Mt. Pleasant Agency – Central Insurance today and let’s begin addressing your Long Term Care needs for tomorrow.