The author addresses the a common mistake many seniors make: "Why do so many believe that Medicare pays for long-term care?"
According to the author, eventually, every one of us will need this care. Consider these statistics.
- A person turning 65 today has almost a 70% chance of needing some type of long-term care services and support in their remaining years.
- 20% of those turning 65 will need care for longer than five years.
- About 35% of people who reach age 65 are expected to enter a nursing home at least once in their lifetime.
But who pays for this?
