Long-Term Care Insurance can help cover the costs of long-term care services that are not covered by health insurance or Medicare. Long-term care coverage can mean the difference between making choices based on quality of life or based on financial means.
Did you know?
The price tag for private caretaking in the United States is $450 billion a year, according to a new report by the AARP Public Policy Institute. Family caregivers are one of the largest and overlooked sectors of the U.S. healthcare system. Average American life expectancy is now 78 years — longer than ever before.
According to the U.S. Department of Health and Human Services, 70% of people over the age of 65 will need long-term care services, but too few are prepared for the financial costs.
- $198 per day for a semi-private room in a nursing home - $72,270 per year.
- $219 per day for a private room in a nursing home - $79,935 per year.
- $3,131 per month for a one-bedroom unit in an Assisted Living Facility - $37,572 per year.
- $21 per hour for a Home Health Aide - $61,320 per year (8 hours a day).
- $19 per hour for a Homemaker service - $55,480 per year (8 hours a day).
Learn more about long-term care
GuideStone has selected LTC Financial Partners to help you make informed decisions about long-term care. For educational information about long-term care, including important definitions, considerations, impacts on assets and how you can help cover long-term care expense in the future, visit LTC Financial Partners' website. To speak to a qualified professional regarding long-term care insurance, contact LTC Financial Partners at 1-877-582-4478 or complete this contact form.