Securing Your Future With LTC Insurance

Most Americans are not totally against to paying for most types of insurance. However, although they see the need for long term care insurance, once they get long term care quotes and see how much a policy costs, they immediately hesitate on buying a plan. The question is, should the cost of an LTCi policy be a deterrent? The answer is, no!

Based on the study conducted by the U.S. Administration of Aging, members of the baby boomer generation have more than 70% chance of needing some form of long term care in the future. This is a reality that everybody should address.

LTC specialists and the government itself have been constantly reminding everyone to come up with a plan to secure their health care needs because the price tags of LTC services are expected to rise in the succeeding years.

Many Americans are discouraged from opting for Medicaid in their plan as this government-funded insurance program is going to deplete its funds very soon if its long term care spending will not stop from escalating. Last year, Medicaid covered at least 49% of the nationwide long term care expenditures.

Take note that Medicaid has limitations on the amount of assets a person may own and the amount of income a person can acquire per month before they are eligible. Eligiblity and LTC services vary from state to state.

Given this, people should not just rely on Medicaid, if you want to avoid ending up like many elderly folks who are now being forced to leave nursing facilities just so the government can cut down on LTC expenses.

Securing your future with long term care insurance guarantees you'll have the necessary care you need when you need it most in the future.

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