Long-term care is a subject on many people’s minds nowadays-and for good reason. Medicare does not cover extended stays in nursing homes. Medicare only covers a short period of time, after which-sorry to say it, gals-you are responsible for footing the bill! Since most people will spend an extended period of time in a long-term [...]
Money Zone: Insurance
Many women (and their parents) are likely to need nursing care later in life, in their own home or a care facility. Unfortunately, Medicare doesn’t pay for long-term nursing care. So we’re on our own. Because the cost of long-term care is high, there is no way that most people can afford to pay for long-term care out of their pockets. So, that’s why they invented long-term care insurance. Understand the concept of long-term care insurance and decide what you want to do about your future.
Here’s a quick and easy exercise to see if long-term care insurance is for you.