With Independence Day coming up, have you been thinking about what your own independence looks like as you get older? If so, you should consider exploring long-term care planning with Kitzke & Canfield LLC. Our experienced lawyers know that long-term care can be expensive, which is why you need to start planning for your future as soon as possible.
People often assume that that long-term care insurance is just nursing home insurance for the elderly. But in actuality, close to 80% of people receive long term care in their own home. If you are in a serious accident or develop a serious illness that prevents you from caring for yourself, you are going to need a long-term care policy that covers the high-quality care you need in a setting where you feel comfortable.
Long Term Care Facts You Should Consider
According to Life Happens, a nonprofit organization, the following are important facts that every person should consider when deciding their long-term care plans:
- 70% of Americans over the age of 65 will need long-term care at some point in their lives.
- Women tend to outlive men by 5 years and are more likely to live alone in the later years of their life. According to studies, women (3.7 years) tend to need long-term care longer than men (2.2 years) do.
- 20% of Americans who are age 65 today will need long-term care support for 5 or more years of their life.
- On average, the cost of an assisted living facility is $123/day or $3,750/month.
- Private room nursing home care costs an average of $267/day or $8,121/month.
- Semi-private room nursing home care costs an average of $235/day or $7,148/month.
- The average cost of adult day health care services is $70/day.
- On average, the cost of a home health aide service is $21.50/hour.
If you are ready to get started planning for your long-term care expenses, you need to get in touch with our legal team at Kitzke & Canfield LLC to discuss your situation so we can help make sure you are covered when you need it most.
Call (262) 387-0706 today to schedule your consultation with a member of our law firm.