As a recent article indicates, Government data shows “nearly 70% of individuals who reach age 65 will need long-term care at some point.” Further, “while the median cost of an assisted living facility was $4,300 a month as of 2020, what most Seniors don’t realize is that Medicare doesn’t pay for most long-term care costs.” “It only covers 100 days of care at a skilled nursing facility, and only if it was preceded by a hospital stay of three days or more.” This was stunning to read. Even in cases where individuals have surgery, it’s rare that a hospital will keep you long enough to trigger any Medicare assistance for the nursing facility that you may then need to move into. Did you know that there are financial products that can not only provide you an income you can’t outlive, but can also provide enhanced benefits if you do end up in a nursing facility. We can discuss these options with you, as it may give you the peace of mind you are looking for.
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