PAYING LONG TERM CARE COSTS MEDICARE CAN'T
COVER
For aging adults and their loved ones, figuring out how to pay for long-term care can be overwhelming. For a child of aging parents, long-term care health insurance was a godsend. When my father was diagnosed with bladder cancer, my parents moved into assisted living for six years. Long-term care insurance paid for the services in their "new home" until they passed.
My cohort, Hazel Bridges, who created Aging Wellness states:
The cost of nursing home care is skyrocketing. Today, a private nursing home room can cost more than $8,000/month. And any senior or senior loved one who has looked into long-term care knows that Medicare offers limited coverage.
The goal of most seniors is to stay in their own homes. While home-based palliative care supports seniors with chronic illness, long-term care insurance pays for the types of places that patients with chronic illness call home.
My parents instilled the message that if you want something bad enough, save your money to pay for it.
Hazel submitted a blog post for KevinHaselhorst.com that describes the importance of knowing and getting what you
want near the end of life by investing in long-term care insurance.