Long-term care insurance provides financial security.
At age 65, there's a 70% chance you'll need long-term care.
One simple decision can prepare you for these costly expenses.
Even with Medicare, retirees face significant out-of-pocket costs because the program doesn't cover all health care needs.
Avg. monthly cost of in-home care in California
Avg. monthly cost of semi-private room in a California skilled nursing facility
Avg. monthly cost of a private room in a California skilled nursing facility
Long-term care insurance helps cover expenses for community programs, assisted living, and other expenses.
Calculators
Long-Term Care Calculators and Planning Tools
How much money will you need for long-term care in California, and how can you plan for it?
The answer depends on your age, health, location, the type of care you may need, and how long you'll need it.
Our long-term care calculators and planning tools help you estimate future costs for in-home care, assisted living, and nursing home care, assess your potential long-term care insurance needs, and explore ways to protect your retirement savings and assets.
Use these tools to understand how much to budget for long-term care and build a financial plan for your future.
Additional Information
Videos
These quick videos will provide additional information in your long term care funding research.
Solutions
New Taxes?
As many states struggle to meet the soaring demands of their Medicaid long-term care programs, many are considering increasing taxes on their citizens.
Washington recently enforced a mandatory payroll tax for its citizens to fund a small LTC benefit plan, and an additional fifteen states are considering taking similar measures.
If the Washington example is followed in your State, buying private long-term care plans could provide an exemption from this mandatory state tax and more comprehensive coverage.
California has enacted Assembly Bill 567 to establish a long-term care task force to examine the feasibility of designing and implementing a mandatory statewide LTC Insurance program.
The Problem Hasn’t Changed But the Solutions Have
An overview of our LTC Funding solutions can be found on the chart. Each option has its benefits and drawbacks, and your medical situation is an important factor in the options available to you.
Products do vary by State. Michael can provide you with an analysis of the options in your state and aid you in deciding if one is right for you and your family.
Client Reviews for Michael Barrett, Leading Long-Term Care Insurance Specialist
With LTCRplus, our team of experts brings you 25 years of experience to deliver the most affordable and comprehensive solutions for all your Long-Term Care (LTC) Funding requirements.
Thanks to collective buying power, we offer exclusive discounted rates with group and individual products. Our portfolio of best-in-class solutions can accommodate different budgets, medical conditions, and levels of coverage.
Meet your advisor
Michael Barrett is an independent insurance professional with more than 20 years of experience in financial services. Michael resides in Orange County, CA and is part of the LCTR Pacific team, an insurance agency working with over 650 affinity groups and associations.
Michael is dedicated to helping individuals and families secure their financial futures. He works closely with clients to tailor solutions that match their unique needs and goals. Whether it's long term care or life insurance, Michael provides expert guidance and peace of mind in planning for the unexpected.
Why Long Term Care?
Recent research suggests that most Americans turning age 65 will need LTC services at some point in their lives. Women typically need care for 3.7 years, while men require 2.2 years, however, 20% will need care for 5+ years.
Is MediCare sufficient?
Regular health insurance doesn't cover long term care and MediCare covers only short nursing home stays (max. 100 days) or limited amounts of home health care in specific instances.
Are you prepared?
Long Term Care can deplete ones retirement savings quickly. The median cost of care in a private room is $108,408. The financial impact of LTC can be devastating and given the rising costs of health care, planning for the future has never been more important.
Why wait?
The longer you wait, the more expensive your options become and the higher your risk is of becoming uninsurable. Plan now while you still can, taking the stress and financial responsibility off your family.
