What is Long-Term Care Planning in Scottsdale, Phoenix, Mesa & Chandler?
At its core, long-term care planning involves answering 3 critical questions. If you need long-term care:
- Where would you want to live?
- Who would take care of you?
- How would you pay for it?
Addressing these questions sooner rather than later can increase the quality of life for you or your aging family members, and you may be able to ease the financial stress and ensure that you or your loved ones get the care that they need.
The Staggering Costs of Long-Term Care
In Phoenix, Arizona and surrounding areas, the annual cost of nursing home care during 2017 was $6,494 per month for a semi-private room and $8,389 per month for your own room. That’s $78,000 to $100,000 per year! Or are you one of the many people who would prefer to stay home no matter what rather than enter a nursing facility? If so, you can expect to pay over $100,000 per year for homemaker and home health aide services. And these costs are only going up every year.
Many people fail to realize that Medicare will not cover the cost of long-term care, whether at home, in assisted living or in a nursing facility. Paying for long-term care is a personal responsibility that is wiping out the life savings and estates of millions of ill-prepared, middle-class retirees across the country.