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Long Term Care

The Facts.

LTCS84% of Americans have had at least some experience with nursing homes -- either as a patient or a visitor, and 46% say a family member or close friend has been in a nursing home in the past three years.  ( Senior Journal, July 2005.)

Medicare generally doesn't pay for long term care.  ( www.medicare.gov , 2005.)

48% of today's workers are not confident in their ability to pay for long term care in retirement.  ( Retirement Confidence Survey, Employee Benefit Research Institute, 2004.)

By 2030, 20% of all Americans, or about 70 million people, will have passed their 65th birthday.  The average 75-year-old has three chronic conditions and uses five prescription drugs.  (Executive Summary, The State of Aging and Health in America, Centers for Disease Control, 2004.)

The Risks.

You have a one-in-96 chance of your house being damaged by fire.
Surely your home is covered.

You have a one-in-five chance of your car being damaged in an accident.
You wouldn't drive without auto insurance.

But you have a 50% chance that you will need long term care at some point in your life.
So why wouldn't you insure your independence?

2004 Field Guide, National Underwriter, 2004.)

The Costs.

Two-thirds of single people and one-third of married couples exhaust their funds after just 13 weeks in a nursing home.  Within two years, 90% will be bankrupt.  (2004 Field Guide, National Underwriter, 2004.)

The average cost per year of nursing home care is $57,700.  ( Kiplinger's Retirement Report, March 2004.)

The median cost of care in an assisted living facility is $30,000 per year.  ( Adult Day Care Services, AARP, February 2004.)

By 2030, the average nursing home stay will cost approximately half a million dollars ($468,960).  ( Kiplinger's Retirement Report, March 2004.) 

 

Our Motto

JW Financial Consulting, LLC was created on the principles of helping people like you receive advice you can trust and products that lead you to your financial goals.

At JW Financial Consulting, LLC we believe that relationships can only thrive when values match.

At JW Financial Consulting, LLC we do what's right, not what's popular!

 

Contact Us

JW Financial Consulting, LLC

2345 South Alma School Road, Suite #106

Mesa, AZ 85210

Phone: (480) 620-6777

info@JWFinancialConsulting.com

DBA - Senior Consultants

 

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