Long-term care is different from traditional medical care. Someone with a prolonged physical illness, a disability, or a cognitive impairment such as Alzheimer’s Disease often needs long-term care. Long-term care services may include help with daily activities, home health care, respite care, hospice care, adult day care, care in a nursing home or care in an assisted living facility. It is important to understand that Medicare and Medicare supplemental insurance do not cover extended long-term care. Long-term care may be an important consideration when planning your estate.

A recent article in the Buffalo News estimated the average annual cost of a skilled nursing facility in Western New York to be about $85,000. At this rate, and increasing every year, your estate can be quickly consumed. You need to decide if long-term insurance is something that you should purchase. For worksheets on how to compare policies and features, take a look at “A Shopper’s Guide to Long-Term Care Insurance” from the National Association of Insurance Commissioners. To request your free copy of the Shopper’s Guide visit the National Association of Insurance Commissioners website located at www.naic.org.

*This aritcle was adapted from the National Association of Insurance Commissioners.

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