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May 23, 2010 by Abe Glickman

What is the Cost of Long Term Care ?

Long Term Care services can be expensive, and costs vary widely based on where you will be receiving care.

National rates are as follows*:

•The average daily rate for a private room in a nursing home is $203, or $74,095 a year
•The average daily rate for a semi-private room in a nursing home is $176, or $64,240 a year
•The average monthly rate for assisted living facility is $3,061, or $36,372 per year
•The average hourly rate for a home health aid is $19, or a 10 hour day for $190
These costs are expected to DOUBLE in 20 years!!

“An American at age 65 has an average life expectancy of 18.7 more years.”

How will I Pay for Long Term Care Services?

You can pay for these services a number of different ways:

•Pay out of your own pocket and deplete a lifetime of savings
•Apply for Medicaid, but you will be required to spend down your assets and “become a ward of the state”
•Purchase a Long Term Care Insurance Policy

Filed Under: What is the Cost of LTC Tagged With: Cost, Long Term Care, Long Term Care Insurance, LTC, LTCi

Important Medicare Information

October 19, 2010 By Abe Glickman

This month I would like to share with you very important information that I believe all Medicare recipients should know. The following is an article from the magazine, Senior Market Advisor, July 2010 issue. Please take a moment to read this essential information and as always, should you have any questions regarding this article or […]

Do You Have Long Term Care Insurance?

January 3, 2012 By Abe Glickman

Do You Have Long Term Care Insurance? Claudia, 50 Sunrise I don’t have Long Term Care Insurance yet, but I really need to get it. I’ve known people who have had to live in nursing homes and I’ve seen what the costs are. If you don’t have insurance, who’s going to pay the bill? Hopefully […]

Impact of New Health Care Legislation

November 5, 2010 By Abe Glickman

Impact of New Health Care Legislation Long Term Care Coverage for All             A new government-run program is meant to address the growing need for Long Term Care Services.             Tucked into the Health Reform Law (originally sponsored by the late Ted Kennedy) that passed in March is a national voluntary insurance program for purchasing […]

It’s Expensive

September 4, 2012 By Abe Glickman

Would you buy Long Term Care insurance? “People say the premiums are expensive.” As a Long Term Care insurance Agent, I hear this all the time. Are they?? I have to expand the question for those who make that statement. Long Term Care insurance premiums are expensive compared to…what? Compared to the cost of Long […]

No Nursing Home for Me!

June 17, 2010 By Abe Glickman

No Nursing Home for Me (Now this is what I call an alternate plan of care!)             About two years ago, I was on a cruise through the western Mediterranean, aboard a Princess liner. At dinner I noticed an elderly lady sitting alone along the rail of the grand stairway in the main dining room. […]

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Abe Glickman, LTCA, LTCP
Member: AALTCI, NAHU, NAIFA, SOA
Abe Glickman Insurance Group
Toll-Free Phone: 877-298-5824
Email: AG@AbeGlickman.com
“It is better to create a plan 10 years too soon than one day too late.”
Questions or Comments? Give me a call!

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