Long Term Care (LTC)
Long term care insurance provides daily assistance for people with chronic, disabling health problems. That kind of help -- be it home health care, nursing home care or hospice -- typically is not covered by private health insurance or Medicare.

LTC Misconception
  • "Medicare will cover my LTC needs"
  • "I'll just go on Medicaid
  • "I don't want to go to a nursing home"
  • "I'm too young to need LTC insurance"
LTC Facts
  • Approximately 12 million Americans are currently receiving long term care
  • About 1.5 million are getting this care in a nursing facility
  • Over 85% of care takes place at home or in the community
Is LTC Only For The Elderly?
  • 40% of people needing LTC today are between the ages of 18 and 65
  • Strokes are America's #1 disabler, and 1 of every 3 stroke victims is under 65
  • How old do you have to be to have a serious accident?
Financial Need for LTC
  • Cost of Care
    • $50,000 a year for nursing home
    • $40,000 a year for home care
    • $25,500 a year for assisted living
    • All expected to triple in 20 years
  • Asset Drain
    • #2 reason given for purchasing LTC insurance
  • Undesirable Payment Alternatives
    • Medicare pays an average 25 days of nursing home care
    • Medicaid qualification requires spending down assets
    • Few can afford to self insure
Economic Need for LTC
  • Impact of Baby Boomers
    • 76 million
    • Ages 34 to 53
  • Social Security
    • 40 to 1 in 1945
    • 3.4 to 1 in 1995

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