Many families are struggling financially while trying to pay for the right care for a loved one. They find it difficult to protect and preserve their large assets that are being wiped out paying for high cost on Long Term Care services. An estimated national average annually ranges from $74,000-$75,000 for private nursing home care.

Understanding all the resources and funding a loved one with some type of long term care is important. Care can be expensive and it’s important to plan ahead and avoid the financial risks and burdens of waiting until it’s too late. According to NCPC , “People generally think of five basic ways to pay for long term care: out-of-pocket, private long term care insurance, MedicareMedicaid, or VA Benefits for veterans.”

Waiting to purchase long term care until your health goes bad vs planning ahead while still in good health is a big risk. Research your options and the best thing you can do is invest in yourself and your health. Prepare and protect your future today.