Long-Term Care Planning

Long-term care planning is the last thing someone wants to do, yet you would be wise to look at long-term care planning options when you are in your 50s.

Are You One of the Two In Five?

Approximately two out of every five people reaching age 65 will need long-term care. We believe it could never happen to us, but take a look at these trends:

• Growing population of seniors
• Poor government management
• Increasing longevity due to medical technology
• Inability or unwillingness of families to care for their elderly
• More difficult Medicaid eligibility due to federal legislation 

We must consider the very real possibility that long-term care may become part of our own lives.

So, would you prefer to stay at home no matter the cost? Without long-term care planning, a lack of available services, and the staggering price tag may leave you with few alternatives.

Rising Long-Term Care Costs 

Most people fail to realize their health insurance and Medicare do not cover the cost of long-term care, whether at home, in an assisted living facility or a nursing home. As a result, all age groups across the nation are concerned about paying for long-term care.

In Alabama, the cost of long-term care in a nursing home ranges from around $65,700 per year for a semi-private room to around $70,800 per year for a private room. Fortunately, these rates are below the national average.

If you stay at home and hire home-care service, the long-term care costs are also significant. In Alabama, the average cost of a homemaker health aide providing housekeeping and companionship is about $16 per hour. And the cost of a home health aide providing bathing and dressing assistance is about $17 per hour. 

In-home 24-hour care in Alabama can cost

$12,000 to $13,000 per month.

Let's Think Long Term Today 

The time to put long-term care plans in place is before a crisis.  John Holliman or Melanie B. Holliman (formerly Melanie B. Bradford) can explain recent law changes and long-term care options so that long-term care costs don’t strip your beneficiaries of their inheritances.

• Private insurance
• Estate planning
• Asset protection
• Medicare
• Medicaid
• Veterans benefits

Call us today at 205-663-0281 for a free consultation.