Debbie Perlman Blog

There are two kinds of insurance when it comes to looking into nursing home insurance: Insuring your personal belongings and/or liability when you live in a nursing home Purchasing insurance that will help you cover the costs of living in a nursing home if you ever need to live in one These are two different kinds of insurance that are useful to know about as you plan for the unexpected, or need to make a move into a nursing home for either yourself, your spouse or your parents. 2 Kinds of Nursing Home Insurance With both types of nursing home insurance, there are ways that can help you save money, and also make smart planning choices for the future. This article covers an overview of these various insurance coverages for covering you in a nursing home. Insuring Personal Belongings in a Nursing Home When you move into a nursing home you usually get rid of a lot of the contents of your home because you are moving

Many people who are in need of assisted living, nursing home care, or in-home care, put off looking for care for fear of how they will pay for it. Assisted living care costs can be expensive, but like most things in life, you can usually find less expensive options if you are willing to spend the time looking. The total cost of assisted living care depends on the level of care needed, and the quality of the assisted living facility. There may be resources you can find to help you pay for the costs. The resources available depend on the income and assets of the person in need. Your first option is to pay out of pocket. Let's start there so you can get an estimate of the cost of care. Pay out of pocket If you or your loved one needs in-home care, expect to pay about $19 - $30 per hour for someone to come to you and provide assistance. Rates will vary depending on the level of care needed, and the time of day you need assistance. Assisted living facilities are available

According to the U.S. Department of Health and Human Services, today's average 65-year-old has a 70 percent chance of needing some kind of long-term care as they age. They also report that although one-third of today's 65-year-olds may not ever require long-term care or assistance living, that one out of five will need it  for more than five years , that's 20 percent. If we use this information, paying for five years of assisted living or long-term care services or housing can be extremely expensive. One more statistic which is surprising is: 8 percent of people between 40 and 50 years old, have a disability that could require long-term care services At a time when many hardly have their retirement fully funded, it pays to look into the options for long-term care and what kind of costs are involved with a Long-Term Care Insurance Plan, regardless of your age. Having the facts can save you money long-term, and help