Common Misconceptions

Dispel the myths about long term care


There are many misconceptions about long term care.  It is a topic on many peoples' mind and yet perceptions may not be accurate. 

“I already have health insurance. I’m covered.”

There are other non-medical needs associated with aging that health insurance won’t cover, like help getting dressed, bathing and eating — even getting in and out of bed. Nor will health insurance cover home modifications.

“My family will take care of me.”

Almost half (46%) of family caregivers spent more than $5,000 each year in caregiver costs while 33% spent more than 30 hours per week on caregiving.1 Be sure to have a realistic conversation about the impact of providing care.

“If I need special care, I’ll pay for it from my retirement and my savings.”

The median annual cost of home health care exceeds $45,000.2 In two or three years, that could have a significant impact on your savings.

“I probably won’t need long term care.”

You or someone close to you probably will. At least 70% of people over 65 will need long term care services and support at some point.3

“I’ll never end up in a nursing home.”

Possibly not, but you still need to plan for other possible eventualities. Even home care is costly, and aging in the home could require expensive modifications like downstairs bed and bath additions, outside ramps, and so on.

1Senior Cost Index, Caring.com Caring Inc., September 2014.
2Genworth 2015 Cost of Care Survey, April 2015
32015 Medicare & You, National Medicare Handbook, Centers for Medicare and Medicaid Services, September 2014.

128313LO4 05/26/15

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2015 Cost of Care

2015 Cost of Care

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