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What is Long Term Care

Long Term Care most commonly affects people in their later years of life, but sometimes applies to young people as well. This is the type of care given to those who are not fully capable of taking care of themselves on their own. It includes the six Activities of Daily Living (ADLs) which include, Bathing, Dressing, Transferring, Toileting, Continence, and Eating. It also includes any form of Dementia and the supervision and care associated with those illnesses. 7 out of 10 Americans will require Long Term Care before the end of their life, and with Americans living longer as our technology advances, this number is expected to rise. Combine that with the increasing costs of healthcare in our country, this can become an extremely expensive need and is a significant risk to your retirement savings. Long Term Care insurance comes in many different forms and is often a very cost efficient way to protect your hard earned savings from what is now a highly likely situation you will face.

The average cost for care depends on the type of care, the provider of care, and the city in which you live. In the Las Vegas area it can range from $40,000 a year to over $100,000 a year for the necessary care. Much of this cost can be alleviated if planned for in advance.