Friday, March 20, 2015

How to Prepare for Long Term Care Costs



Many of us dream of having a comfortable life after retirement and living independently in our own home. However, most people will not have that kind of retirement since 70% of Americans 65 and above will require any form of long term care services, according to the U.S Department of Health and Human Services. 

Most Americans don’t anticipate this pressing need, which results into relying on loved ones, government programs like Medicaid and self-funding. In order to avoid these, here are some things you can consider when preparing for possible long-term care expenses:

1. Know the options
2. Consider costs
3. Understand Medicare & Medicaid
4. Decide how to pay
5. Don't put it off

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