Does Medicare Offer Coverage for What Are the Odds That I’ll Need Long Term Care?

Unfortunately, the chances are that you’ll eventually need one type of long term care or another. That’s right; according to recent surveys, over 50% of us will need either home care or nursing home care in the future.

The need for these kinds of care may be as a result of an accident that leaves you incapacitated for a month or more – or for a year or more because of a degenerative major illness (cancer, Parkinson’s disease, dementia, Alzheimer's, etc.).

To be fair, the majority of such cases will involve needing in-home care, but professional home care can be just as expensive as a nursing home, sometimes more so, depending on what kind of care you need.

In either case it will be the kind of financial risk that you’d prefer to avoid, and that’s exactly what insurance is for.