CNBC November 28, 2022
Key Points
– Most Americans may want to age at home, but few have long-term care insurance coverage. With home health aides costing almost $62,000 a year, how can average people fund their care?
– Tom Beauregard, founder of insurance company HCG Secure, said there’s “a need for innovation in this space to cover middle-income families to age at home.”
– Besides insurance coverage, retirees can look into alternate resources and tactics such as nonprofit service providers, cost-sharing with other retirees and tapping veterans benefits.
Some 70% of people want to age at home, yet only 10% have long-term care insurance, a recent HCG Secure/Arctos Foundation study found. Furthermore, about half of respondents had no idea how much in-home care...