Long Term Care
As a generation, we are living longer and healthier lives. But we are also experiencing many illnesses, injuries and disabilities we have never had to deal with during shorter life spans. Long Term Care is defined as: The assistance or supervision given to a person who has a physical or mental disorder that will last for more than 90 days and which causes the person to no longer function independently. This can be due to injury, illness or the normal aging process.
The statistics on the risk of needing long-term care are sobering.
- According to the 2000 US Census, currently 6.4 million people 65 or older need Long Term Care.
- One in two over 85 requires care and assistance with Activities of Daily Living (ADLs).
- Nationally the average daily rate for nursing home care is $181 for a private room and $158 for a semi-private room.
- Locally here in FL, nursing home care is $153 for a private room and $142 for a semi private.*
- The average stay in a Nursing Home is 2.4 years.
Long-term care insurance coverage deserves a greater priority for helping keep you independent in the years to come. Typical Long Term Care services include assisted living services, respite care, home health care, adult day care and care in a nursing home. Nobody can predict the future, but we can always prepare for it. In many cases long-term care insurance is affordable and can be purchased without affecting your lifestyle or depleting your savings. Rates for insurance depend on age, health, and the amount of insurance you wish to purchase. Think of this—we have insurance that covers our home, automobile, and general medical expenses. The biggest risk not covered is major catastrophic, long-term medical problems.
Do you have a plan? The Financial Representatives at Suncoast Trust & Investment Services are ready to help you. Contact us online for a complimentary consultation, contact a specific Financial Representative, or call 1-866-300-9382.