Should Dad Have Long Term Care Insurance?

June 13, 2013 6:34 PM
Should Dad Have Long Term Care Insurance?
" BOSTON (CBS) – Long term care is a variety of services that includes medical and non-medical care to people who have a chronic illness or disability. Most long term care is to assist people with support services for activities of daily living such as dressing, bathing, and using the bathroom. Long term care can be provided at home, in assisted living facilities or in nursing homes.

According to Genworth Financial’ s 2013 Long Term Care Survey, the national average cost of a semi-private room in a nursing home is $75,000, with it costing over $126,000 here in Massachusetts.

A recent study found that people who reach age 65 have a 45% chance of entering a nursing home. But many only stay a short while.

For example a 70-year-old gets a knee replacement and can’t take care of himself at home. He might spend several weeks in a nursing home to receive rehab after his surgery.

According to the Census Bureau, about 4% of the 65+ population occupy nursing homes at any given time. The rate of nursing home use increases with age and almost 50% of those 95 and older live in nursing homes "

Click here to read the whole article

Google related News

Wednesday, December 31, 1969 by Forbes

The Best Gift Dads Can Give Their Families

The Best Gift Dads Can Give Their Families kids give dear ol' dad a Father's Day gift? raise your hand if you have the coffee mug that reads 

Read more
Friday, June 14, 2013 by Plain Dealer

Father's Day should be a time to say thanks: Terry Pluto

He spent a brief time in jail before he became a father. He wonders, "How can I be a good dad when I never had one?" He didn't want his son 

Read more
Friday, June 14, 2013 by The New Republic

Here Come the Daddy Wars

(Yes, eventually, the Mommy Wars and the Daddy Wars will likely have to become one big Parents Wars, but first the right side will have to win 

Read more
Friday, June 14, 2013 by Crushable

12 TV Dads Who Should Totally Have Their Custody Taken Away

Full House Danny Tanner Custody Father's Day is coming up, you guys, and I know this because, suddenly, every department store has very 

Read more