There Is Something You Can Do About the Cost of Cost of Long-Term Care

By Steve Elliott | June 6, 2017 | Comments Off on There Is Something You Can Do About the Cost of Cost of Long-Term Care

Many of us understand that the cost of goods and services continues to increase each passing year. Whether it’s food, cars, entertainment, or anything else, inflation is constantly pushing prices up. What few of us actually think about, though, is the cost of long-term care.

Long-Term Care Insurance Encinitas CA - The Cost of Long-Term Care Continues to Rise and There Is Something You Can Do About It

Long-Term Care Insurance Encinitas CA – The Cost of Long-Term Care Continues to Rise and There Is Something You Can Do About It

Right now home care is the most affordable option.

There are many different types of long-term care available, but hiring a home care aide is still the most affordable one. Still, for 40 hours a week of care from an experienced aide working for an agency, the average cost of that is about $44,000 in the US. The average cost of nursing home care is $75,000. The average cost of assisted living is $55,000.

Different parts of the country have different rates for these long-term care options.

In Alaska, for example, the cost of nursing home care can exceed $100,000. In certain parts of New York City, the cost of assisted living can also exceed six figures.

As more people prefer to remain at home, or age in place, as they get older, even if they need some type of long-term care, the demand for in home care services will increase as well. That’s going to drive up the cost of this level of care even more.

For somebody who may not qualify for government assistance through Medicare or Medicaid to help pay for long-term care, they will be required to pay out-of-pocket for these services. As the cost of these services continues to increase, it may feel to some like there’s nothing they can do about it. They may feel as though they have no choice but to just deal with the situation and hope for the best.

There is something that can be done.

Considering long-term care insurance is one of those options to consider. Not many people think about long-term care insurance because they simply don’t realize there’s coverage available. Those who understand about this level of coverage may think it’s not necessary because they’re only in their 40’s and they’re a long way from requiring any type of long-term care.

Emergencies can happen at any time.

Whether it’s a health emergency like a heart attack or stroke or injuries sustained in an accident, things happen that people never expect. Having long-term care insurance helps to temper concern about the rising cost of long-term care.

If you or a loved-one are considering Long-Term Care Insurance in Encinitas CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.

Steve Elliott
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