Five Retirement Thoughts Everyone Has – And Our Answers

When discussing retirement plans, the conversation that arises is often about relaxing, traveling, volunteering, and pursuing other joyful activities. It’s easy to avoid putting a solid plan in place for possible future care needs when thinking about this next chapter of life. And, though it’s only natural that long term care is not at the top of your retirement plan list, it’s easy to re-think that and secure a trusted plan for your and your loved ones’ peace of mind so you’re fully able to enjoy the best that your retirement has to offer.

We’ve found that the following five statements have been thought by numerous seniors when planning for the future. Have you thought them before as well? Here, we’ll share our thoughts on these statements to help you make the right decision for your future.

I’m too young. I’m just not ready yet.

Because some long-term insurance plans or senior living communities require physical or medical evaluations before access is granted, waiting to make a plan for when you truly need it can limit options and choices—in addition to costing more. By putting a plan into place for your future care, you can ease the burden not only financially, but give yourself and your loved ones peace of mind. We suggest that you attend information seminars or open houses before deciding the best course of action for your future.

I’m healthy. I won’t need future care.

Statistics show that after age 65, an American has more than a 70% chance of needing help with Activities of Daily Living (ADLs), such as dressing, grooming, transferring, and using the bathroom. Securing a plan for long-term care before a health issue arises allows you to enjoy retirement vibrantly without worrying about the potential need to organize care in the future.

Medicare will pay for it.

Neither Medicare nor Medicare Supplements cover long term care.  Medicare is designed for short-term acute medical needs and will only pay for skilled medical rehabilitation for a limited period of time after a qualifying 3-night hospital stay. The maximum amount that Medicare will cover for a skilled stay is 100 days. With a long-term care plan like SmartLife’s Lifecare, you can be sure you’ll be taken care of-as long as you require-if the need arises for enhanced care.

It’s too costly.

Current long-term care costs can exceed $130,000 for one year of service, and home care costs can become steep without coverage. Planning early with a Lifecare plan will help contain future out-of-pocket expenses. Lifecare is a unique, comprehensive promise that entitles members to short- and long-term care, at no additional cost, for their entire lives. In addition, SmartLife offers three different plans to work with your budget. Other resources on our site like our Cost Analysis and SmartLife vs. Longterm Care Insurance Comparison Chart can help you make a decision about your future, as well as explain Lifecare’s value.

My family will care for me.

Relying on family and friends to care for you when you need it can be a slippery slope. Ideally, you want your spouse or significant other to remain in that role, your child to remain a child, and your friend to remain a friend—not become your caretakers.  By investing in a long-term care plan like SmartLife, the responsibility for care rests with our friendly and knowledgeable caregivers so you can continue to enjoy spending time with your friends and family.