healthcare planning
Preparation
Preparing for the potential need for long-term care makes sense, especially if you can help protect your existing assets at the same time.
Your loved ones may also appreciate your preparations.
One of the biggest risks we see with our clients is in the area of Health Care Planning. However, at Eagle Financial Group, we offer available programs that most people do not know about that can help you protect your assets from Long-Term Care risks, if you qualify for them.
Long-Term Care
We know that the costs of uncovered health care expenses is one of the biggest factors in why seniors file for welfare or Medicaid. They end up running out of money to pay for long-term care costs that are not covered by Medicare.
380,000
Number of individual long-term care insurance policies sold, 1990.
129,000
Number of individual long-term care insurance policies sold, 2014.
Percentage of applicants denied for coverage:
11%
Below age 50
17%
Ages 50-59
The Fact is, most people do not have a long-term care policy because they are very expensive and hard to qualify for.
Age 55, Single Individual, with a $150 Maximum Daily Benefit x 3yr benefit period can have costs that are upwards of $2,550 annually…and this does not even cover the median amount annually as shown in the above statistics.