Dr. Stephen O'Brien, chief medical officer of Mediflix, shares how his streaming platform is trailblazing access to medical information for everyone.Nursing homes and assisted living facilities are pricey. Malzone says that costs can range from $800 to $8,000 per month. This cost will vary depending on where the facility is located and the amenities it provides.
"Most individuals purchase their long-term care insurance in their 50s," Malzone says. "This is due to being in a balance of good enough health to qualify and having sufficient income to budget." CLICK HERE TO READ MORE FROM FOX BUSINESSChris Orestis, president of Retirement Genius, reports that 84% of people surveyed think that the need for long-term care will never happen to them, but if it does, they will be able to afford it.
"If you are able to get a policy through your employer you should sign-up immediately to get it for a very low cost without any underwriting, and if you leave your employer you can keep the policy and take it with you," Orestis says."Medicaid will provide coverage but to qualify your total assets and income must be below the poverty level. Paying out of pocket for care can easily cost $10,000 per month and can bankrupt a family quickly," he says.
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