Long-Term Care: The Expense Medicare Wasn't Designed to Cover

One of the biggest misconceptions I hear about Medicare is that it will pay for long term care if you eventually need help taking care of yourself.

It won't.

Medicare may cover certain short-term skilled nursing or home health services when specific requirements are met, but it does not pay for ongoing custodial care, and help with everyday activities such as bathing, dressing, eating, or using the bathroom.

And long term care can be expensive.

Without a plan in place, the cost may eventually come from your income, savings, retirement accounts, or other assets.

That's why I encourage my clients to think about long term care before they need it. Depending on your situation, options may include traditional long term care insurance, life insurance with long term care benefits, or an annuity designed to provide long term care benefits.

The goal isn't to predict whether you'll need care. It's to decide how you would want to pay for it if you do.

At Forever Healthy Insurance Solutions, Medicare Melanie helps clients look beyond Medicare and understand the financial risks Medicare wasn't designed to cover.

You spent a lifetime building your savings. A long term care plan can help you protect it.

Health insurance and long term care protection can be just as important to your financial portfolio as the investments within it. After all, a strong portfolio is only as secure as the foundation it's built on.

Make sure your foundation is protected.

Medicare Melanie | Forever Healthy® Insurance Solutions

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