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Long-term Care Costs: Popular Misconceptions by LitherlandLawCA


In this presentation we will look at some popular misconceptions.

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  Popular Misconceptions
It is important to be prepared
for possible long-term care expenses
Unfortunately, many people are unaware
               of the facts
In this presentation
we will look at
some popular
1   “It will never happen to me.”
  Some people don't care about
 the state of long-term care costs
     because they don't think
they'll ever need living assistance
According to the United States Department of
        Health and Human Services,
 70% of Americans will need long-term-care
2   “Medicare will take care of it.”
  Some people are unconcerned
about future assisted living expenses
because they think that MEDICARE
        will pay for everything
In truth, Medicare
will only pay for up to
100 days of
convalescent care
It will not pay for an extended stay
in a nursing home or assisted living community
3   “I’ll just pay out-of-pocket.”
It's not easy to simply write a check
       to pay for long-term care
    According to the MetLife
    Mature Market Institute,

in 2012 the average annual
expense for a private room
in a nursing home exceeded
$90,000 nationally
   In the state of California,
this figure exceeded $120,000
4   “Assisted-living communities are
It is true that assisted-living communities
are less expensive than nursing homes
However, many would say that
 they are far from “affordable”
       The average charge for a
        month-long stay in an
assisted-living community in California
          in 2012 was $3,867
This equates to an annual expense of
over $46,400

People often spend multiple years in
assisted-living communities
We have established the
fact that most people will
need long-term-care
We have established the
fact that most people will
need long-term-care

Medicare won't pay for
this care, and it is
extremely expensive
Once the misconceptions are cleared up,
        what's next?
   Long-term Care Insurance
        It is possible to purchase
      long-term care insurance
in anticipation of incurring these expenses
 Any policy that you consider
should be carefully examined
  so that you fully understand
 the extent of the coverage
   Medi-Cal
 Medicaid is a joint federal-state program
that provides health care to people with
             financial need
In California, the program is called Medi-Cal
   Medi-Cal Planning
It is possible to qualify for Medi-Cal even if
 you have never considered yourself to be
               financially needy
You may be
able to gain
eligibility while
keeping a
maximum store
of resources in
the family if you
plan ahead
After viewing this presentation,
you may want to start preparing
 for the eventualities of aging
If you live in the greater San Jose area,

our firm can help
   Get in touch with us to schedule a free

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