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Care Planning Archives

Paying for long-term care in New York

According to the National Advisory Center for Long Term Care Information, 70 percent of Americans will need long-term care after age 65. However, it was revealed that only 11 percent of Americans are prepared to pay for such care. By 2050, 27 million Americans are thought to need long-term care, which is more than double the current number of 12 million.

The real cost of nursing home care

The majority of people in the United States are assuming that nursing home costs are lower than they really are and are not saving an adequately to cover their future needs, according to a new survey. For example, many people think that the annual cost of being in a home is under $75,000, but a MetLife study found that a private room is $90,000 a year. A shared room might cost around $81,000. The results shows that people in New York might benefit from putting more time into long-term care planning.

Elder care facility closes in New York, leaving residents nervous

A popular retirement home in New York is closing, leaving many residents and families shocked, inconvenienced, and nervous about the future. The facility is closing due to rising costs in its neighborhood and concerns about its long-term viability. Unfortunately, many families have been disappointed at the news and are concerned about their prospects for finding comparable levels of quality and convenience in a new facility.

Baby boomers must plan for long-term care

There are three primary things that many older individuals are concerned with as they approach retirement and beyond in New York: living independently in their own homes, staying healthy and having access to quality care, and the desire to have the financial support necessary to sustain their lifestyle. Failing to research long-term care planning can leave retirees exposed to big threats in their golden years.

Personal health care decisions important part of estate planning

If you missed National Healthcare Decision Day, which falls on April 16, don’t wait until it rolls around again next year. The purpose of the day is to bring attention to the importance of letting your loved ones and medical professionals know your preferences when you may not be able to let them know.