As you approach retirement, knowing what Medicare does not cover can be as important as knowing what medicare does cover. This is one of the reasons we help each client go through a complete retirement checklist to make sure you are protected.
Original Medicare Part A helps cover skilled nursing, but it does not cover Long Term Care. With skilled nursing, you’re showing improvement, you’re there by doctors orders, and there is a date planned for your departure. With long term care, you’ve moved in or lost daily activities of living or stopped improving. I meet most of my students and clients when they are 64 years young.
Most of y’all are 64 going on 18… full of energy, joy, good health, and by golly invincible. You are in fact, the youngest 64 year olds who have ever lived. You are living healthier longer lives than ever before and I love it! If you get to live to 64, I want to share some other numbers with you today…52% of you will need long term care for between 2-6 years costing between $148,000-$498,000. Take a deep breath, don’t panic. PLAN.
We may not know exactly what our specific future holds, but we do know what our statistical probability to need certain protections is and we can plan for that. You can plan for this expense in many ways. Long term care protection can be bought traditionally by qualifying and paying monthly premiums, it can be secured by allocating assets for that cost, Life and annuity hybrid strategies, medicaid spend down, reverse mortgage, and more. Don’t be afraid to bring this up, y’all. You can protect your assets and you can plan for long term care that meets your specific circumstance. If this is a conversation that you have not had with your spouse, children, or local agent. You can text or call me personally. My name is Ellie Saul, CEO and Mama Bear of Mamabear resources LLC my number is 341-226- MAMA that’s 341-226-6262. You worked your whole life for this. Protect your retirement. Text