Long-term care (i.e. assistance with dressing, bathing, eating, ambulating or using the toilet) is extraordinarily expensive and not covered by Medicare.
Most families cannot afford to take care of a loved one with dementia, Alzheimer’s, Parkinson’s, stroke or Multiple Sclerosis. And very few people have purchased long-term care insurance or have vast resources for the necessary expenses.
Unfortunately, the majority of people over age 65 today will need long-term care services in their lifetimes.
The average length of care is 2 years, but 20% of people will need care for longer than 5 years.
California nursing home costs in 2017 an averaged $110,000 per year and assisted living facilities averaged $54,000 per year.
As a result, life savings, retirement accounts and even the family home are drained rapidly to pay for long-term care and extended hospital stays, leaving nothing for the surviving spouse and nothing to pass to your children.
The right legal and senior care solutions can help you or a loved one facing long-term care needs and expenses.