Without Long Term Care Insurance, Who Pays for Nursing Care in Suffolk County?  

Our clients often come to us with misconceptions about who really pays the bill for nursing care. Unfortunately, Medicare and Medicaid don’t cover what most of us will want when it comes to long-term nursing care and the bills for private care can be tremendous.

We can help you understand the cost and risks of needing nursing care in order to create a comprehensive medical plan for the future.

Nursing Care Costs in New York

As New York long term care insurance agents we realize that most people have no idea how much long-term nursing care costs. Here are some quick stats about the cost of long-term care in New York state and on the East End of Long Island:

• Semi-private room in a nursing home in Southampton: Over $125,000 a year
• Semi-private room in a nursing home in New York State: Over $90,000 a year
• Semi-private room in an assisted living facility in New York: Over $46,000 a year
• Home health care services on Long Island: Over $50,000 a year

Understanding Long Term Care Insurance in the Tristate Area

As you can see, expenses like these can wipe out assets quickly. However, there are good ways to plan for these costs, and long term care insurance is one alternative. Specifically designed to pay for different kinds of nursing care, depending upon the policy, coverage can include care in a nursing facility, assisted living home, or even care by a home health care agency or family member. As an alternative to long term care insurance, our clients sometimes use certain kinds of life insurance policies and annuities that provide cash benefits for disability or confinement.

At Cardona & Company, we hope to help you plan for a comfortable retirement. Contact us at your earliest convenience to discuss alternative ways to prepare for the possibility of long term care expenses and preserving your assets during retirement.