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June is Alzheimer’s & Brain Awareness Month, a time to raise awareness around cognitive health and the steps we can take now to protect ourselves and our families later. One of the most important but often overlooked tools is long-term care planning.
As Alzheimer’s and other brain disorders become more common, so does the need for extended care. Without a plan in place, families may find themselves emotionally and financially overwhelmed.
Why Long-Term Care Planning Matters
Cognitive decline doesn’t just affect memory—it affects independence, finances, and quality of life. As conditions like Alzheimer’s progress, many individuals require:
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Assistance with daily activities like eating, bathing, or dressing
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Supervision or memory care
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In-home caregiving or full-time facility-based care
These services are considered long-term care, and they’re not covered by Medicare or traditional health insurance.
The Real Cost of Long-Term Care
According to Genworth’s 2024 Cost of Care Survey:
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A private room in a nursing home averages over $100,000/year
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Assisted living facilities cost about $54,000/year
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Home health aides can cost $5,000/month or more
Families dealing with Alzheimer’s or dementia often face these costs for several years. Without coverage, long-term care can quickly deplete retirement savings or force loved ones into difficult caregiving roles.
What Is Long-Term Care Insurance?
Long-term care insurance is designed to help cover the cost of care when you’re unable to perform at least two activities of daily living (ADLs), or if you suffer from a severe cognitive impairment.
It may help pay for:
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Nursing homes
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Assisted living facilities
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In-home care
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Adult day programs
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Respite care for family caregivers
When Should You Get It?
The best time to apply is before any diagnosis or symptoms appear. Once someone is diagnosed with Alzheimer’s or dementia, it’s usually too late to qualify.
Most people purchase LTC coverage between ages 40 and 60, when premiums are lower and eligibility is easier to secure.
Alternatives to Traditional Long-Term Care Insurance
If a standalone LTC policy doesn’t fit your needs or budget, consider these options:
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Life insurance with a long-term care rider
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Hybrid annuities with LTC benefits
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Health Savings Accounts (HSAs) that can be used tax-free for qualified LTC expenses
Final Thoughts
Planning for long-term care isn’t just smart; it’s an act of love. As we observe Alzheimer’s & Brain Awareness Month, it’s the perfect time to ask:
If I ever need help, how will I pay for it?
Ready to Start Planning?
Long-term care can be complex, but you don’t have to navigate it alone.
Schedule a free consultation today and get expert guidance on building a plan that protects your independence, your finances, and your loved ones.
Start Your Long-Term Care Plan
