According to Tom Beauregard, founder of insurance company HCG Secure, most people believe that home care will be covered by their employee insurance or Medicare – which isn’t totally true. Some 70% of people want to age at home, yet only 10% have long-term care insurance, and many Americans ignore how much it would cost to age in place.
Home healthcare can easily reach a cost of $60,000 per year and most – which means there’s a need for innovation in the industry for middle-income families to age at home.
Planning ahead is important to be able to enjoy the retirement years without worrying about coverage. Telehealth and senior technology apps could be a fundamental piece of aging at home.
Homecare changes financial planning for retirement. In this CNBC article, you will find some alternate resources and tactics to fund aging in place.