Long-term care is a very big factor to consider when you are planning ahead for your senior years. The United States Department of Health and Human Services has a website called LongTermCare.gov. There is a lot of good information on the site. When you visit the site, a particular statistic jumps out at you: approximately 80 percent of people who are turning 65 will eventually need living assistance. We are talking about a likelihood, not a remote possibility. If you have worked for any length of time during your life you will qualify for Medicare when you reach the age of 65. This is great, but Medicare will not pay for long-term care. A stay in a nursing home or assisted living community is very expensive, and it is particularly expensive in the state of New York. A year in a nursing home averages over $180,000. Medicaid is a jointly run federal/state government health insurance program that will pay for long-term care. However, to qualify you must be able to fit within very modest
Posted on: Tue, 27 May 2014 14:46:20 +0000
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