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It’s for much more than just nursing homes

These days, long-term care involves much more than just nursing homes. It can include home modifications so you can continue to live at home. It can mean having an aide remind you to take necessary medication. Long-term care can also include professional care, such as skilled nursing care you may receive at home.

You may be a candidate for Long-Term Care Insurance if . . .

• You want to choose the type of care you receive from your available options.
• You want to spare your family responsibility for your long-term care.
• You want to preserve an inheritance for children and grandchildren.
• You have the financial resources to pay for the coverage.

Some facts:

• 50%of the population will need long-term care, nursing home or home care.
• 43%of people age 65 and over will enter a nursing home in their lifetime.
• Medicare pays less than 10%of all long-term care costs.
• The national average for a one year stay in a nursing home in 1997 was $41,000.
• The average stay in a nursing home was 2.8 years with 21%staying more than 5 years.
• Long-term care premiums are tax deductible.
• Employers can deduct any portion of their contribution for Long-Term Care Insurance as a business expense.
• Employees who itemize their tax deductions may be eligible to deduct a portion of their contribution for Long-Term Care Insurance as a medical expense (within certain limits).

Whether you are retired or contemplating retirement, all those plans you have ... like planting the garden, fishing, playing golf, taking trips, grandchildren, or actually reading War and Peace... isn’t it important to make certain you have a financial plan in place to help make your retirement years as enjoyable and worryfree as possible?