Massachusetts Long Term Care Insurance

Massachusetts Long Term Care Insurance

Over the years, care costs have been increasing continuously and the residents cannot meet the expenses due to not having sufficient funds. Surveys show that only 20% - 30% of baby boomers residing in Massachusetts  are confident that they can afford retirement.

Most turn to state funded programs as lack of funds overwhelms many families receiving care in Massachusetts. Within 2000, 1 in 5 adults age 65 and above depended only on Social Security for subsistence. Without Social Security, nearly half (47%) of the senior population would have lived below the federal poverty line from 2000 to 2002. This resulted to heavy dependence on public funding for Long Term Care needs.

Average Costs of Long Term Care Services in Massachusetts

The people of Massachusetts consider health care costs as one of the top health issues that the state needs to address. Long Term Care costs have steadily risen in the past five years. Genworth Financial, a major global insurance carrier, released its findings on the current median cost of Long Term Care in Massachusetts.

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Find out how much a long term care insurance policy costs in Massachusetts by filling up our free online assessment form. Compare costs from the top insurance carriers in the country and get information to help you prepare for your future long term care.

More Information and Resources for Massachusetts LTC Insurance

For more comprehensive reading, here are a few external references you can visit:
House No. 1004. An Act Relative to a Long Term Care Partnership Program. 2007. The Commonwealth of Massachusetts.
Section 4. Senate No. 575.
Long-Term Care Report 2002. The Massachusetts Senate.
Divided We Fail. Key Findings in Massachusetts. 2008. AARP.
State-Specific Data From The Genworth 2010 Cost of Care Survey.

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