The document discusses preparing for long-term care needs, noting that over 70% of those over 65 will require long-term care assistance. It emphasizes the importance of understanding long-term care options and costs, which can be over $80,000 annually, and considering insurance or savings plans to cover expenses. The presentation aims to help attendees envision and plan for their potential long-term care needs years in the future.

1. Preparing for
LongTerm Care

2. THANK
YOU FOR
JOINING US!
OUR HOPE TODAY IS TO PROVIDE YOU WITH
SOME VALUABLE INFORMATION, HAVE SOME
FUN, AND ENJOY THIS NEXT HOUR.
WE WOULD LIKE TO WELCOME
YOU TO TODAY’S WORKSHOP
2
2016 | The Society for Financial Awareness

3. 2016 | The Society for Financial Awareness
3
EVALUATION FORM
Please review this
form. I will be picking
these up at the end
of the workshop.
Do note – the
backside is to be used
for your specific
questions and issues.

4. Important Notes
4
 There are many important factors to consider when
addressing potential extended healthcare needs.
Although this presentation addresses important and
helpful information, it is for general educational
purposes only and does not represent personal
planning advice. When addressing your particular
situation, be sure to consult with appropriate financial
and legal advisers who are experienced in this area of
planning.
2016 | The Society for Financial Awareness

5. What is Long-Term Care?
Long-term care is
provided individuals
requiring the services
of another to assist
with physical needs
over an extended
period of time.
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2016 | The Society for Financial Awareness

6. Will You Require Long-Term Care?
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70%
Over 65
Requiring Long-Term Care
2016 | The Society for Financial Awareness

7. 7
Your Situation
You’re more likely to
need long-term care
if you’re living alone.
2016 | The Society for Financial Awareness

8. 8
Hello Ladies
Ladies, you had the
distinction of living
longer than males.
The older you age,
albeit gracefully, the
more likely it is that
you will require
assistance.
2016 | The Society for Financial Awareness

9. 9
Health and Wellness
A poor diet and
sedentary lifestyle
increases your
chances of requiring
some type of
assistance.
2016 | The Society for Financial Awareness

10. Understanding Your Options
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 It’s important to completely understand your options in the
range of care available.
 Use on-line resources for guidance and research.
 If you’re seriously considering long-term care, SOFA
recommends talking to financial planner or insurance agent.
2016 | The Society for Financial Awareness

11. The High Cost of Care
$87,000
$41,000
$0 $20,000 $40,000 $60,000 $80,000 $100,000
Nursing Home
Assisted Living
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Source - http://elderlawanswers.com
2016 | The Society for Financial Awareness

12. Important Questions

13. Imagine Your
Future
Imagine yourself 10
years in the future!
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2016 | The Society for Financial Awareness

14. Medicare
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 Medicare provides limited coverage
 Eligibility is based on a hospital stay of at least three days and
many for long-term care assistance.
 Medicare will cover up to 20 days of long-term care assistance
 Partially covers up to 80 additional days.
2016 | The Society for Financial Awareness

15. 15
Thinking Ahead
There’s no way to tell
the future.
How will you prepare
for Long-Term Care?
2016 | The Society for Financial Awareness

16. Being Prepared
The retirement
population will
explode over the
next several
decades.
46,200,000
98,000,000
2016 2060
16
U.S. Census Bureau
Elderly Population
2016 | The Society for Financial Awareness

17. Give Each Policy a Careful Consideration
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 Long-Term Care Insurance covers help that people with chronic illnesses,
disabilities or other conditions need on a daily basis over an extended period of
time.
 The type of help needed can range from assistance with simple activities (such
as bathing, dressing and eating) to skilled care that's provided by nurses,
therapists or other professionals.
 Policies offer many different coverage options.
 Your age, health, and assets can impact your policy.
2016 | The Society for Financial Awareness

18. 18
Do Your Homework
Purchasing long-term
care insurance is an
important financial
decision
Do your research
Work with a reliable
company and agent
that you trust
Ask questions
2016 | The Society for Financial Awareness

19. 19
How Much Will You Need For
Long-Term Care?
2016 | The Society for Financial Awareness

20. 20
EVALUATION FORM
Please take a
moment to
complete. I will be
collecting these
in a moment.
If you need a pen,
please let me know.
2016 | The Society for Financial Awareness

21. Thank you for your time!
Please complete your Program Evaluation.
We will be picking them up shortly.
Now would be a good time for me to answer
any particular questions you may have.