As the oldest baby boomers begin to wind through their 60s, one of the biggest concerns may not be outliving income, but outliving good health.
For retirees, home health care can cost $50,000 or more per year1, and nursing home care can run as high as $80,0002 per year. Does your retirement income strategy account for this kind of possibility? Would you be prepared for twice that amount as a married couple?
Considering that you could have to reduce your financial means before Medicaid will pay for long-term care and neither your employer group health insurance nor major medical insurance will cover long-term care, you may want to consider planning ahead for these potential expenses.
We can help evaluate your situation and determine if purchasing a long-term care insurance policy may be the right move to help you feel confident in your financial future.
1Genworth 2012 Cost of Care Survey: Home Care Providers, Adult Day Health Care Facilities, Assisted Living Facilities and Nursing Homes
2 MetLife: The 2011 Market Survey of Long-Term Care Costs
To schedule a time to discuss your financial future and the possible role of insurance or investments in your financial strategy, contact us at firstname.lastname@example.org or call us at 407-284-4911 today!
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Voyage Retirement Solutions and its representatives do not represent, nor are they affiliated with the Florida Retirement System (FRS).
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