Unfortunately, the vast majority of seniors have made no real plan to protect against a long-term care stay, leaving their retirement nest egg at risk.
Some folks will not qualify because of health reasons,
some assume that the government will take care of them, some cannot afford the premiums and others are in denial of the potential devastation of a long term care stay.
long term care
According to the federal government, roughly 60-70% of seniors will experience the need for long term care at some point in their lives.
This care could be a combination of services such as, assisted living, home healthcare, skilled care or
an extensive stay in the nursing home. Yet most people are either under prepared or don’t realize that Medicare doesn’t cover long term care stays.
Medicare covers rehabilitative service for up to 100 days.