Seventy percent of Americans who reach the age 65 will need long term care at some point – but few are prepared to pay for it, according to a report by the SCAN Foundation on the State of Long Term Care financing. The report also finds that families bear a huge part of the burden, providing over $450 billion in unpaid caregiving and $63 billion in out of pocket costs. LTC planning overlaps retirement planning. If you are concerned about your retirement, LTC is a key component one must factor into the equation. Inflation is making everything more expensive, especially healthcare. The cost of care will continue to pace or outpace inflation. Using the power of leverage within insurance plans is vital to a sound retirement plan.
dba LawSin Insurance Agency, Inc.