Long-Term Care, Dallas Tx.

According to one study, about 70 percent of Americans who live past 65 will require some form of long-term care. It may be temporary to recover from an illness or injury. Or it may be a more permanent situation in the last years of your life. In either case, there are two important reasons to prepare: One, you’ll want to have options for the type and quality of care you receive. Two, it will be costly, and most of the cost will not be covered by insurance or Medicare.

Of course, money isn’t the only determining factor when it comes to long-term care. Your state of health and specific needs will also play a role. The option people usually think of first when it comes to permanent long-term care is a nursing home. No one wants to end up in a nursing home, but in some cases, it is your best or only option. In other cases, if you don’t need regular medical care but still can’t live independently, you might choose assisted living. Of course, the option most people would probably like to be able to choose is in-home care. Unfortunately, this is the option least likely to have any insurance coverage.

How Will You Pay for Long-Term Care

Once again, insurance and Medicare coverage for any type of long-term care is limited. So, what are your options for paying for long-term care? Well, the most obvious one is savings. And most people do end up paying for most of their long-term care needs out of pocket. So, the more you can save to cover the costs, and the sooner you can start saving, the better. But how much you save is only half of the equation. Equally important is how you save, meaning the savings and investment strategies you use throughout retirement, and even before.

Another option is long-term care insurance: purchasing a policy specifically designed to cover long-term care needs. But long-term care insurance isn’t necessarily right for everyone. It depends on your individual situation, your retirement goals, and several other factors.

Call Today and Let Us Help You Prepare for Long-Term Care

Even if you are considering the possibility of self-insuring against a long-term care need, by scheduling a needs assessment appointment with us today, we can help you analyze all of your options and make the best choices.
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