Long-Term Care Planning
Plan now. Avoid family crisis later.
Cost reality
Nursing home: $9,000+/month. Home health aide: $5,000+/month.
Medicare doesn't cover
Long-term care is NOT covered by Medicare. Major surprise for many seniors.
Long-term care insurance
Best bought ages 55-65. Premiums $2,000-$5,000/year.
Hybrid policies
Life insurance + long-term care. Less use-it-or-lose-it.
Medicaid for nursing home
Covers nursing home if you spend down assets. Plan 5+ years ahead with elder law attorney.
Genworth Cost of Care
FREE. genworth.com. Estimates costs in your specific state.
Quick Tip: Even self-paying for 2 years of care wipes out average retirement savings.