Are you researching ways to pay for long-term care? Are you concerned that this added expense will bankrupt or place a huge burden on your entire family? Let’s talk about the issues at play when dealing with long-term care.

You Have Questions

Paying for long-term care is a valid concern and a huge issue.

There are a few statistics you should be aware of:

• On average, assisted living facilities cost $3,500 per month, which has increased by 4.29 percent over the past five years. Assisted living facilities could end up costing you $42,000 annually.

• The average nursing home day rate is $240 per day, which has increased by 4.19 percent since 2009. Nursing home care could cost more than $87,000 per year.

There is long-term care insurance, but it is expensive, and it’s usually cost prohibitive. Don’t count on Medicare to pick up the tab, as it will only cover a small portion of the bill—although Medicaid is available for those who qualify.

Planning ahead can save your family from a negative inheritance. Nobody wants to leave behind stacks of doctor’s bills, but the issue of elder care is a confusing one. Seeking wise counsel is very important.

We Have Answers

I’ve developed this helpful and practical Medicaid webinar in response to all the questions I’ve received over the years. I’m in the business of planning estates and helping families prepare for the future. If you have questions, sign up for the webinar today, or call our office at 601-925-9797, and I can help you get started.

~ Ronald Morton