So what is the answer to long term care needs? Seventy percent (70%) of seniors will need some form of long term care. Yet Medicare, the Affordable Care Act and your health insurance policy will not help pay for those costs, which can reach or even exceed ten thousand dollars a month.
Unfortunately, many assume their only option is to purchase long term care (LTC) insurance. LTC insurance is a type of policy that will pay benefits when the insured is unable to perform certain activities of daily living (ADLs) such as eating, bathing, dressing, toileting, and transferring.