Health Care-Long Term Care
Posted by Gary O'Rielly
on Mar 12, 2012
This week (March 10) afforded our members another opportunity to learn about Health Care especially as it relates to Long-Term Care. Dave Johnson, respected Sergeant at Arms and Vice President and principal of Lehmann Wood Johnson discussed Long-Term Care. Long-Term care can vary in cost from $8,000 to $20,000 per month and can vary from assisted living to nursing home care. Adult day care is available as well as home care services which could be up to two years before going to a nursing home. There are many more options available like assisted care facilities.
The past two weeks gave our members an insight to the Federal Health Care Reform Act and the potential impact on all of us. This week, we were given a wonderful perspective on Long-Term care which should be part of everyone's retirement planning for those that haven't retired at this time. There are some employer-funded long term care coverage programs that are worth exploring. According to information distributed at the meeting, "seven in ten people who live to age 65 will need some long-term care services at some point in their lives".As pointed out the cost can vary depending on the services so it is important to plan ahead. According to 2008 statistics, Nursing home: private room can cost up to $74,460 per year, while a semi-private room will cost around $66,795. Assisted living cost are about $35,544. per year. Home health care aide can run around $19 per hour and adult day care about $62. All based on information from 2008.
No one knows, how long we might need care. That's like asking, how long am I going to live? We have had a run of great speakers and last Friday's program was no different. Thanks Dave for providing us with something to think about!
No one knows, how long we might need care. That's like asking, how long am I going to live? We have had a run of great speakers and last Friday's program was no different. Thanks Dave for providing us with something to think about!