Medicare

In your retirement planning, include the cost of long-term care

In your retirement planning, include the cost of long-term care

Many Americans have a blind spot when it comes to retirement planning: long-term care costs. Even though the majority of Americans will at some point need long-term care, few are planning for it. Many underestimate the costs and mistakenly believe health insurance can help cover it.

“This is not like being struck by lightning. It is something we will all face in our lives,” said Bruce Chernof, president and chief executive of the SCAN Foundation, which researches care for older adults. “If we don’t need it ourselves, it is likely that our spouses, our significant other or our parents will. One way or another, it will touch the lives of every single American.”

The U.S....

EDITION: California | U.S. & World
59°