Long-Term Care

Continuous Medical Coverage for Long-Term Care

Get long-term care insurance in West Texas

As we age, the need for ongoing medical care and support increases. From managing chronic conditions to mobility challenges, maintaining independence can become more difficult. Long-term care insurance helps ensure you have the care you need—without the financial stress. 

At Maichel Retirement Solutions, we’ll help you find a long-term care plan that fits your needs and budget, whether it’s for daily prescriptions, in-home assistance, or other essential services. 

Contact us today to explore your long-term care insurance options.

What is long-term care insurance?

Did you know that approximately 70% of those over the age of 65 will need some form of LTC?

Long-term care insurance helps cover the cost of essential services for those who need ongoing medical or personal care due to chronic illness or disability. This includes assistance with daily activities like dressing, bathing, and mobility. 

With the average cost of in-home or facility-based care exceeding $50,000 per year, relying on Medicare or supplemental insurance may not be enough. Long-term care insurance is designed to bridge this gap, providing the financial protection you need for the care you deserve. 

Contact Maichel Retirement Solutions today to explore your coverage options.

Planning for Long-Term Care: Your Options

Did you know that by 2030, many retirees will not have enough income and assets to cover basic expenses related to LTC?

At Maichel Retirement Solutions, we understand the importance of preparing for long-term care (LTC) expenses. Here are some common ways to cover these costs:

Self-Funding

Set aside a dedicated pool of money to pay for LTC services out-of-pocket. This option provides flexibility but requires careful financial planning.

Family & Friends

Some individuals rely on loved ones for care. While this can be a meaningful solution for committed families, it may also be physically and emotionally demanding.

Medicaid

Medicaid can help cover LTC expenses, but eligibility is based on specific income and asset requirements. Understanding these limitations is crucial when considering this option.

Long-Term Care Insurance
If you qualify, LTC insurance can help pay for necessary services. Additionally, hybrid products combine LTC benefits with life insurance or annuities, offering added financial security.

Choosing the right LTC strategy is essential for your financial future. Contact Maichel Retirement Solutions today to explore your best options.

See if you should take advantage

Did you know that 10,000 baby boomers are reaching retirement age every day?

Planning for long-term care means ensuring you have the financial resources to cover essential services when you need them. Do you have enough savings to pay for home health care for six months, a year, or longer? If not, long-term care insurance could be a smart solution. 

A long-term care policy provides daily or monthly benefits to help cover care costs, whether for a set number of years or up to a maximum dollar amount. Many policies also include automatic benefit increases to keep up with rising healthcare costs. 

The best time to secure long-term care insurance is before you need it. Waiting until you have health issues could make you ineligible for coverage—but once approved, your policy is guaranteed renewable for life. 

If you're 45 or older and don’t yet have a plan in place, now is the time to explore your options. Contact Maichel Retirement Solutions today for a personalized quote.