• Kyla Beamon

Long Term Care Nationwide Costs for 2017

Long Term Care is rarely talked about in family settings, but it should be. It's hard to start the conversation but Genworth has done a great job with a few video's that will help you start the conversations: CLICK HERE

Keep in mind that Long Term Care prices rarely fall, they continue to rise each year. CLICK HERE for Median Cost of Long Term Care for 2017 for States in the USA.

When researching Long Term Care (LTC) there are two good options for you to choose from:

Traditional Long Term Care

Life Insurance IUL plans

Long Term Care has you pay into the system for a certain amount of years and then IF you need the funds down the road you have access to them - if not, you might loss them.

IUL plans incorporate a Death Benefit and some offer Long Term Care Benefits built in. One nice thing about using an IUL as your savings for Long Term Care is that if you don't use it for LTC you can use it to pass on to your beneficiary's when you perish, instead of "loosing" the money you put into a traditional Long Term Care product (if you don't need the LTC).

One Life Insurance company providing IUL's with Long Term Care benefits actually allows a family member to receive the funds for taking care of you, instead of a facility. It also does not require receipts for the money they pay out to you each month; which is a big time saver!

Keep your options open when it comes to Long Term Care, but make sure you do something sooner, verse later. Social Security will not be able to cover most Long Term Care monthly costs!

Family example: My mother-in-law ended up with Diabetes and it overtook her due to poor management in her earlier years. She now has to have full time care to remind her to take her pills (15 of them per day) and to make her meals and help with bathing, etc. What makes this even sadder is that she is only 65 years old and this is her "lot" for the rest of her life. Being cared for by others. We had to move her to Oregon because her benefits had run out in Florida and they were going to transfer her to a homeless shelter. Unfortunately, she had not worked the required 40 credits during her life time benefits. It was a lot of hassle, paperwork and time finding her a place that she could "afford" on $751 per month and that we felt comfortable with the care and quality of the home.

Genworth did a great study comparing 10, 20 and 30 year price increases. Below is there 10 year estimate and as you can see it went up quite a bit. CLICK HERE to see the study and compare 10, 20 and 30 year estimated Long Term Care rates as they continue to rise.

Make time to talk the Long Care Term talk now, before you need it down the road...when it's too late.

2017 Long Term Care by State and Facility

#BenefitsforLongTermCare #LongTermCare #BenefitsforLongTermCareLongTermCare #LongTermCareCosts #RisingCostofLongTermCare #LongTermCare2017Costs #StatebyStateLongTermCareCosts #USALongTermCareCosts #LongTermCareOptions #LongTermCareLifeInsurance #LongTermCareIULOption #LongTermCareusingFamilyMembers #SocialSecurity #GenworthLongTermCare #NationwideLongTermCareBenefits

Medicare and You 2021 Handbook, 2021 Medicare and You Booklet, Discounts on Cannabis, Cannabis MedPlan for 60 days $1.00, Cannabis try before you busy $1.00, Discounted recreational cannabis, discounted CBD & THC, CBD & THC Medical Plans,Cannabis Medicare Plans, CBD & THC Medicare plans, CBD & THC discounts, Silver & Fit, Where can I find the 2020 Retirement Tax Guide, Where can I find 2020 Federal Poverty Level, 2020 Tax Brackets, Tax Inflation Adjustments for 2020, 2020 Social Security Schedules, 2020 Capital Gains and Qualified Dividend Rates, 2020 Uniform Lifetime Table, 2020 Federal Estate Gift Generation skipping transfer tax, HSA Amounts for 2020, 2020 Health Savings Amounts, 2020 Retirement Tax Guide Available now. Health Insurance plans and rates book online now, 2020 Marketplace Health Insurance, Medicare, What is Medicare, How does Medicare work, Where do I sign up for Medicare, Do I have to sign up to get Medicare, When does Medicare start, Medicare Broker, Medicare Agent, Medicare Producer, Medicare made easy, Medicare Explained, Medicare basics, Medicare for 65 and over, Medicare Quotes, Medicare Rates, Oregon Medicare, Aliera offers Health Share plans all year long.  Health Share Medical, Health Share Catastrophic plans, Health Share Short Term Medical plans.  Purchase coverage for your health outside Open Enrollment.  Catastrophic coverage, Other health insurance options, health insurance, Medicare options with Aliera  YELP REVIEW, ONESHARE, Our Yelp Page, Read my Medicare Blog, Medicare Made Easy, Medicare for Dummies, Part D Medicare, Medicare Advantage plans explained, How do I apply for MEdicare, How do Medicare Advantage drug plans work, Help with Medica, Disability Insurance in ORegon, Indemnity plans, Gap Plans, Gap Insurance.re and Medicare Advantage plans, Finding a Medicare advantage broker, Medicare Brokers, Medicare where to start, Disability Insurance, Gap Plans, Cancer Insurance, Accident Insurance, Short Stay Plans, Medical Share Plans, Christian Medishare, Agentreview, agentreview.net