As you age, the likelihood of needing help with daily activities increases, even though it may be difficult to imagine right now. The critical question is: How will you pay for it?

Approximately half of today's 65-year-olds would someday experience a handicap and need some long-term care services, according to a 2016 study updated by the Urban Institute and the U.S. Department of Health & Human Services. While most will need services for less than two years, approximately 14% will require care for more than five years.

Medicare only pays for limited home health care or short-term stays in a nursing home when skilled nursing or rehabilitation is needed; regular health insurance does not cover long-term care. It also does not cover custodial care, which includes supervision and help with everyday duties.

With long-term care insurance, you could pay for care out of pocket. Medicaid, the federal and state health insurance program for low-income people, can assist, but only after most of your savings have been depleted.

Purchasing long-term care insurance can offer peace of mind and protect your hard-earned savings. Maintaining sufficient funds in your savings for yourself and your spouse is possible by ensuring you can afford medical care if you fall ill. Additionally, your children won't be burdened with significant payments for your care.

If you have any queries about Long-Term Care Insurance or wish to compare different policies, contact Hecht-Stout Insurance Agency in Dunlap today! We're here to help you secure the coverage you need.

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.