Long Term Care

When it comes to needing Long Term Care there are 4 ways you can pay for it.
· Have family members take care of you at no charge
· You can pay for it out of your own pocket.
· Medicaid will pay for it once you have depleted your asset
· You have long term care insurance that can cover the cost of long term care

What is Long Term Care
Long term care is the type of assistance you would need if you were unable to handle some of
the basic activities of daily living or if you require substantial supervision due to a cognitive
impairment.

What is Long Term Care
Long term care is the type of assistance you would need if you were unable to handle some of the basic
activities of daily living or if you require substantial supervision due to a cognitive impairment.

How much does a nursing home cost?
- On average, one year in a nursing home or 24-hour home care can cost more than $66,000 today1.
In states such as New York, the costs can run as high as $115,3402.

- With costs increasing at about 4%3 per year. By 2030 the cost of a nursing home is expected to
be more than $190,000.

What are your Long Term Care Experiences with a friend or family member?
How was it paid for?
Who provided the care?
How long did the person need care?
Was the care expected or unexpected?
How did long term care affect the family?

While everyone may or may not need Long Term Care insurance it is very important that everyone develop Long Term Care Plan. Many times
clients come to us to help them with a long term care plan when they are a few months away from needing care but it is already too late.
Please call us or submit a quote request and we will provide you with a quote and Long Term Care Analysis to determine if coverage is right for
you.

1. Congressional Budget Office, "Financing Long-Term Care for the Elderly" April 2004.
2. New York State Partnership for Long Term Care, 2003.
3. Based on a rate of inflation of 4.25% of nursing home costs according to the Bureau of Labor Statistics Consumer Price Index See: Fitch, IBCA, Duff & Phelps, "Long-Term
Care: An Industry in Transition" January 18,2002.
4. American Council of Life Insurers, "Long-Term Care Insurance: Protect Your Future" 2001

Please contact us today for your Ohio, Kentucky, or Indiana Long-Term Care Insurance Quote at Roth & Reynolds, we look forward to earning your business!