Note: This article is courtesy of Iris.xyz
By Rick Kahler
When most of us hear “long-term health care plan,” we think of insurance. Not necessarily so.
While a LTCI policy may be part of your health care planning, it isn’t a plan. Even those who don’t need such insurance need a long-term health care plan.
I recently heard a presentation by Carolyn McClanahan, MD, CFP. She says about 70% of Americans will need some type of long-term care. Your odds of needing it increase as you get older and are also higher if you are female, have a family history of chronic health conditions, have a poor diet, don’t exercise, or live alone.