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Medicare & Long-Term Care Planning

Get help navigating a unique care plan.

Medical care during retirement can be extremely complex, not to mention expensive.

Paired with the uncertainty around long-term care planning solutions, intimidation can start to set in. Summit Financial Partners can be your guide in navigating a unique care plan.

Medicare:

The quality of your retirement years can largely depend on your physical and mental health. And turning 65 brings on important decisions. Do I add a Medicare Supplement or Medicare Advantage? What about prescriptions? Plus, Medicare is time sensitive, meaning these decisions must be made during yearly open enrollment. By planning out the process, you’ll know exactly what to do by when. Come your 65th birthday, we’ll have everything in place and be able to continuously monitor your coverage each year as your medical needs change.

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Long-Term Care Planning:

For most of us, we want to age in the comfort of our own home. However, the cost of in-home care is expensive and not ideal for some families. Even facilities that offer long-term care services have hefty price tags which causes us to ask; what’s the likelihood I’ll need a long-term care plan?

The U.S. Department of Health and Human Services estimates that more than half of people (52%) who turned 65 between 2015 and 2019 will need long-term care services at some point in their lives. Almost 14% of people in the age group will require this care for at least five years.*

Women are more likely than men to require these services, which is likely related to their longer average lifespans. About 58% of women will require long-term care compared with 47% of men.*

Whether care is provided in-home or at a nursing care facility, it doesn’t come cheap. A recent analysis found that the average annual cost for a semi-private room at a nursing facility is more than $93,000.* In short, Summit Financial Partners can be your partner in navigating a unique care plan fitting for how you prefer to age.

*Source: https://www.seniorliving.org/finance/long-term-care-annual-report/

Got questions? Contact us today.

LET US HELP YOU REACH YOUR GOALS.

Our approach to working with clients is one that is both relaxed and confident. The sound and well-researched solutions we provide to you is intended to establish a solid financial plan for your future.

– RYAN SKINNER, PRESIDENT

Disclaimer:  The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.

The content within this site is for informational and educational purposes only and does not constitute legal, tax or investment advice. Customers should consult a legal or tax professional regarding their own situation. This site is not an offer to purchase, sell, replace, or exchange any product. Insurance and annuity products and any related guarantees are backed by the claims paying ability of the issuing insurance company. Insurance policy applications are vetted through an underwriting process set forth by the issuing insurance company. Some applications may not be accepted based upon adverse underwriting results.