More than half of people turning 65 this year will need some kind of long-term care in their lives, and an assisted living facility or home health aide costs around $50,000 per year.¹ Due to the COVID-19 pandemic, older Americans face more health risks than usual, and the long-term effects of COVID could lead to a rise in the need for long-term care among older Americans.

On Thursday, December 10th at 12:00 PM ET, Ann Jevne of GYL Financial Synergies held a webinar with Richard M. Starr of Life & Legacy Planning, LLC to discuss long-term care insurance and how the COVID-19 pandemic could potentially change the long-term care landscape. Specifically, Ann and Richard covered:

• The role of long-term care insurance
• The rising cost and changing landscape of long-term care across the country, particularly during COVID-19
• How long-term care impacts your finances and your family
• Essential features and benefits that should be considered when purchasing long-term care insurance

¹ Morningstar, Must-Know Statistics About Long-Term Care: 2019 Edition. (Link)