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Prepare for Long Term Care this New Year
Shared by Strong Valley on December 26, 2022
Prepare for Long Term Care this New Year
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What’s your New Year’s resolution? It’s typically a great time to reflect on changes you want or need to make in your life. Although it’s not easy to think about the possibility of your own failing health or that of someone you love, avoiding the topic isn’t the answer. It’s important to have a long term care plan in place, before you need it, to preserve your family’s assets and have more long term care options.

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What your New Year's resolution?

As a New Year rolls around, you, like many people, may take this new beginning as an opportunity to reflect on changes that you want or need to make in your life. Popular resolutions include making a commitment to lose weight, get fit, eat healthier, manage stress, save more money, and get more organized. Do any of these sound familiar?

It’s no surprise that many New Year’s resolutions focus on health and well-being. As you think about ways to improve your life over the coming year, your thoughts may naturally turn to the health and well-being of your family. Now is a good time to think about their future, as well as your own. If you haven’t already done so, let this be the year that you put a plan in place about the future long term care needs of you and your loved ones.

Although it’s not easy to think about the possibility of your own failing health or that of someone you love, avoiding the topic isn’t the answer. It’s important to have a long term care plan in place before you need it.

Long term care (LTC) refers to the range of medical, non-medical, social, and personal care services that can help someone cope with a reduced level of functioning due to injury, aging, or illness. LTC insurance (LTCI) can help cover expenses for the services provided by nurses, home health aides, occupational and physical therapists, and social workers among others. Although policies vary, they provide a set amount of coverage that can be used to help pay the costs of nursing homes, assisted living facilities, or home health care.

No one knows what the New Year may bring. But, by planning for the future, you can help to preserve your family’s assets, have more long term care options, and enjoy a happier New Year, knowing that you have a plan in place. And, that’s something to be excited about.

The information contained within is believed to be from reliable sources. However, its accurateness, completeness, and the opinions based thereon by the author are not guaranteed – no responsibility is assumed for omissions or errors. The views expressed herein reflect our judgment now and are subject to change without notice and may or may not be updated. Nothing in this document should be construed as investment, tax, financial, accounting, or legal advice. Each prospective investor must make their own evaluation and investigation of any investments considered or of any investment strategies described herein (including the risks and merits thereof), should seek professional advice for their particular circumstances, and should inform themselves as to the tax or other consequences of any investments or services considered or described herein. Please see other important disclosures related to

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