Long-term care insurance helps families plan ahead

CORPUS CHRISTI, Texas — Living in a retirement community can be expensive, but most Mirador Retirement Community residents walk through the doors with a plan already in place like Robbie Garrett.

“They said do you have long term insurance? We said we didn’t even know what it was,” said Mirador Retirement Community resident Robbie Garrett.

Garrett has lived at Watchtower for three years. She said she invested in a long-term plan more than 10 years ago.

Her current policy is enough to cover assisted living with 24-hour care. She only wishes she could have started planning earlier in life.

“When you look at the amount of money you invest, it seems like a lot, but when you get the bill once a month, you think, I’m glad I got this, and I wish I had more,” said- she declared. .

According to Better Business Bureauliving in a nursing home is expensive, and Medicare or Medicaid usually only covers a portion of the costs involved.

Vanessa Hancock of the Mirador community said medical insurance would not cover any of their health services, including memory support and skilled nursing.

“If you know there will be a time when you may need long term care or assisted living and memory support. You should do your planning,” Hancock said.

Hancock told KZTV that part of that planning is looking at the type of care you’ll need. Get quotes from multiple companies taking into account age, health and desired levels of coverage.

“So we’re asking them to bring their policy information and we’ll get on the phone with the long-term care insurance policy to find out what their benefits are,” Hancock said.

She recommends thinking about long-term care insurance starting at age 40.

An investment for any type of care you will need later in life.

Long-termCare.gov provides more information on insurance coverage.

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