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Long Term Care

Why is planning important?

For millions of Americans, life expectancy is much higher than in previous generations. When you live a long life, there is a very high risk you will need the type of care that’s referred to as long-term care.

Planning for long-term can reduce the emotional and physical strain that often get places on loved ones and family members.

What’s the best age to start planning?

You will never be younger or healthier than you are today. That’s the reason to start planning now, when you have the most options. The average age for new individual long-term care insurance applicants is 57; an age when many are able to qualify for good health discounts. This discount reduces costs and remains even if your health changes.

What are the most important questions to ask?

Start with questions like, where do I ultimately want to receive care (at home, in an assisted living community) and what does care cost where I live now, or where I plan to retire?

When looking into long-term care insurance, ask what discounts you qualify for. If you, or a spouse has a health conditions or takes prescription medications, ask which conditions are acceptable, as they can vary from one insurer to another. If you are employed, does your employer offer long-term care insurance as a benefit?

What does Medicare cover?

Medicare covers very little, if any, of the cost for long-term care and is restricted largely to specific illnesses and injuries and for short periods of time.

How can Ferruso & Associates help me get started?

We would love to help! We will sit down with you and help you find out what coverage costs, see if you can qualify with your current health, and determine the discounts for which you qualify. And, there is never a cost or obligation to request this information.

Schedule an appointment with Ferruso & Associates today!

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Check the background of this financial professional on FINRA's BrokerCheck