The Cafro Agency is your local Long-Term Care insurance expert in the greater Norwich CT area. The average retiree assumes that Medicare pays for costs and services associated with recuperation or assistance in daily life. The truth is that neither health insurance nor Medicare pay for personal or custodial care, which describes eating, bathing, dressing, or daily monitoring. Until you or a loved one becomes disabled, you wouldn’t know that the cost of care in Connecticut may average $400 per day. The average stay in a nursing facility in Connecticut is 2.5 years.

A 2016 poll conducted by The Associated Press-NORC Center for Public Affairs Research finds that Americans age 40 and older are not well informed about the impact that long-term care will have on their personal resources. They find that the majority of Americans age 40 and older lack confidence that they will be able to pay for long-term care, and few expect their current insurance to cover the costs of ongoing living assistance.  Many seniors expect to turn to Medicare or Social Security to support their care as they age, although these programs generally do not cover most long-term care services or costs.

At the Cafro Agency, our staff is well-versed in health insurance and long term care insurance. Many assumptions are made about long term care, what it means, and how to pay for it. Whether the custodial care is needed for a post-surgical recuperative period or for terminal conditions such as Alzheimer’s Disease or Amyotrophic Lateral Sclerosis, you need the advice of a professional so you can prepare. The Cafro Agency Staff are experts in all aspects of Medical Insurance and Medicare Benefits and we can assist you with your questions about Long-Term Care Insurance.

Custodial services are not covered by health insurance or Medicare. While Medicaid provides long-term services to those with chronic disabling conditions, it is only available for individuals who meet income and other eligibility requirements. Paying for custodial care services out-of-pocket is out of reach for the average person. According to the HHS Office of the Assistant Secretary for Planning and Evaluation Office of Disability, “While most people with LTSS needs will spend relatively little on their care, about one in six (17%) will spend at least $100,000 out-of-pocket for future LTSS.”

The senior population is expected to nearly double by the year 2040. The majority of these seniors will require some form of long-term custodial care that can be provided in a home or institutional setting. How to finance the provision of high-quality services so that the costs are manageable for families and governments will remain a primary challenge. You or a loved may need to prepare for long-term care, yet don’t know where to turn. Talk to the experts at Cafro Agency Insurance and get your questions answered. Call 860-779-DAVE for a consultation today.