What Are Your Long-Term Care Options?

Hello friends –

November is long-term care awareness month and a really good time of year to review the available options of long-term care for you and your loved ones.

I know I was certainly grateful when my brother took the time to share his long-term care plans with me a couple years ago. Knowing his specific wishes made my decisions and actions easier to implement during an emotional time when he was definitely unable to perform several everyday activities on his own.

No one really wants to think about it or talk about it, but what will happen to you in case there is ever a time when you are unable to perform everyday activities on your own? Who will care for you? 

If you were to need long-term care in the future, do you have a preference for where that would take place? 

How will you cover the cost of the care? Do you understand your long-term care options?

There are many misconceptions surrounding how long-term care costs can be covered. One important step during long-term care awareness month is knowing what your funding options are. For example:

Does your health insurance cover long-term care costs? Most do not.

Do you have Medicare? What happens when you require care longer than your limits?

Is Medicaid an option for you?

Are you expecting your spouse or children to care for you? Are they willing? Many people might assume their loved ones will care for them, but this can present huge financial, physical, and emotional challenges for all parties involved.

Will you be paying for your care with out of pocket income or savings? Or, do you plan to sell your assets?

Do you have a long-term care stand alone policy, or perhaps a rider on your existing life insurance policy?

At Beeing Well Financial Agency, we encourage you to become aware of your financial future and look into your long-term care options. Start this month by having important planning discussions with your family and loved ones. If you’d like additional support and information pertaining to some very difficult questions, email me and request your free digital client guide to long-term care planning. 

We’re here to help you with education and awareness.

Wishing you JOY & Abundance!

Kaylene Ames