Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
Benefits of Membership
Traditional health insurance and disability insurance are not designed to pay for long-term care services. Additionally, Social Security and Medicare do not pay for the costs of long-term care. Private long-term care insurance may be your best option to help cover the future cost of care. Below are some startling statistics about long-term care in America.
* 40% of people receiving long-term care are working-age adults between the ages of 18-64.
* About 70% of Americans over the age of 65 will need long-term care services during their lifetimes. By 2020, this number is expected to exceed 12 million.
*Nationally, home health care costs have grown 13% since 2008, and the annual cost for a private room in a nursing home exceeded $90,000 in 2010.
Educate yourself on what long-term care options will be available to you and your family. Ensure that you are prepared and informed about your future.
For additional information call the VFW Member Benefits Department at 1-800-821-2606, option 1.