If you needed nursing home care tomorrow, could you afford the $13,000 to $15,000 a month median monthly costs? For many people, it would be impossible to pay that much. Long-term care insurance (LTCI) helps close that gap. Here's how it covers costs and fits into your estate plan.
When Laura's mother came home after hip surgery, Laura used two weeks of vacation helping with therapy, meal prep, and travel to appointments. When the time ran out, she faced a dilemma: return to work and leave her mother alone, or take unpaid leave and fall behind on bills. Maine's new paid family medical leave program (PFML), which opened for applications recently, aims to eliminate such decisions. The law goes into effect on May 1st. Under the program, eligible employees and the self-employed may take up to 12 weeks of paid leave to care for a loved one.
The closing of more senior care facilities in Maine spotlights concerns about long-term care options. For some healthy older adults, aging in place gives hope. But it might not be the right path for everyone.
Please call our office during business hours if you would like to provide a credit card number over the phone.
Our office is in Winthrop, Maine, located approximately 10 miles from Augusta, and 17 miles from Lewiston. We are also available by appointment to meet in the Brunswick/Topsham area and the Waterville area.
