Genworth’s 9th annual Cost of Care Survey found that long term care costs in Colorado are much more stable for home health care than for assisted living or nursing home care. Most people say that they would much rather receive long term care in their own homes as opposed to moving into a nursing home […]
There is quite a bit of misunderstanding around financial planning for long term care. Some of that has to do with confusion over the differences between Medicare and Medicaid, and what those programs will actually cover when it come to long term care. There is also some confusion around what is meant by long term care.
Medicare is a federal program designed to cover the cost of health care for elderly Americans as well as those with disabilities. Medicaid is a joint state and federal health care program, but it provides […]
[…] But long term care insurance is a bit more complicated. It’s not as expensive as health insurance, but it’s more expensive than term life insurance. And it involves some very long range planning. For a lot of people, simply planning for retirement is a stretch. And your need for extensive long term care, if it arises, may not come about until well after you retire. So it’s understandable that many people are either on the fence about purchasing long term care insurance, or not even thinking about it at all. […]