70% of people over age 65 will eventually need long-term care.
Long-term Care insurance helps with medical and non-medical needs for those with chronic illnesses or disabilities. It provides coverage in the event that your client may someday not be able to take care of themselves. Long-term Care insurance helps cover costs for care providers and support services. Below is the national average for costs. Medicare does not pay for non-skilled assistance and with daily living expenses. Medicare only pays for Long-term care if your client requires skilled services or rehabilitative care.
Annual Median Costs for LTC Services
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Nursing Home Private Room
$113,529.60 Nursing Home Semi-Private Room
$99,410.40 |
Home Health Aide
$61,936.16 Assisted Living Facility
$57,916.08 |
Additional Resources
Managing Healthcare Expenses in Retirement >Getting Started with Long-term Care > |
LTCi Needs Calculator >What Care Costs >Enter code "lincoln" to view data.
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