What Strategies Can Senior Citizens Use To Cut Expected Unreimbursed Medical Costs?

Long Term Care Insurance-Ways To Cut Medical Costs

With so many medical advances and healthier lifestyles people are living much longer lives, but emergencies and unexpected accidents and illnesses do occur.  So many people today are looking for ways to cut their medical costs.

Retirement: Get real about budgeting for health care

“The painful truth is that a 65-year-old couple who live until age 92 can expect to incur $400,000 in un-reimbursed medical costs, assuming an annual health care inflation rate of 6 percent, according to Fidelity Investments. What’s worse, that figure does not include long-term-care expenses.”

“A stand-alone long-term-care policy can protect you against the huge costs of a nursing home stay or home health care. But if you balk at the idea of paying premiums for a policy you may never need, a new law allows current holders of life insurance …”

http://www.chicagotribune.com/business/sns-201205241800–tms–kplngmpctnkm-b20120605-20120605,0,215593.story

 

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Tags: insurance, long term care, medical, nursing, senior