Now that it’s November and our thoughts turn to Thanksgiving, many of us will likely give thanks for good health, among other things. Which is why it’s fitting that November has been designated as National Long-Term Care Awareness Month. Established in 2001 by the American Association for Long-Term Care Insurance, this observance is aimed at urging Americans to proactively create a plan for themselves as they near age 65.
Why is 65 the magic number? Research shows that 70% of men and women over the age of 65 will need some kind of long-term care (LTC) service in their lifetime. So, the goal is to ensure people are ready before they ever need that kind of intense, expensive care.
Perhaps you’re thinking, “I have VA benefits or Medicare, so I’m sure I’m covered,” but if you qualify for VA benefits, they may not provide enough to cover the cost of long-term care. And if you’re on Medicare, be aware that it does not cover long-term care. As a result, many families end up pulling together money from a variety of sources, including personal income, retirement savings and financial support from family members. Long-term care, without the benefit of insurance, can cost on average $43,000 -$92,000 per year depending on your level of care and facility.1 And if paying for long-term care is not challenging enough, many people find the process of finding high quality care to be yet another difficulty.
Fortunately, USBA members have exclusive access to Long Term Care coverage through LTCRplus. This coverage offers financial support, navigation, quality monitoring and even legal help, as described below.
- LTC Funding: LTCRplus gives you access to financial protection options providing the highest benefits for the lowest premiums and group discounts not available to the general public.
- LTC Navigation: LTCRplus provides senior care experts to help you and your family choose the type of care to fit your needs, budget and geographic limitation. They also provide quality ratings/reviews of care providers and assist in filing LTC insurance claims to maximize your benefits.
- LTC CareAudit: LTCRplus offers third-party professionals who specialize in monitoring and evaluating the quality of care being provided to a loved one at home or in a facility.
- LTC Legal: LTCRplus provides access to legal resources to help you create and customize advanced directives, elder care agreements, living wills/trusts, powers of attorney (legal and medical), and more.
Observe National Long-Term Care Awareness Month by looking into long-term-care insurance. You and your family will experience the peace of mind that comes with this decision – one more thing to be thankful for.
To learn more, click here or call 844-582-7587 to talk with a trained LTCRplus representative.
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¹ U.S. Dept. of Health and Human Services