THE KNEE LAW FIRM LTD
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LONG-TERM CARE PLANNING

More than half of Americans turning 65 today will need some type of long-term care.

We're living longer and the care needs are greater and more expensive. The challenge for most people is making sure they can afford the long-term care needed. That's where proactive Long-Term Care Planning can help.

​By creating a long-term care strategy now, you can face your retirement years feeling secure and confident, knowing that your assets will be protected from costly care events.



Long-Term Care Planning benefits:
  • Helping protect you, your loved ones, your lifestyle and assets
  • Helping preserve the money you and your loved ones have worked so hard to save
  • Helping those who may not have someone to care for them or significant assets to pay for these costs​
  • Peace of mind for you and your family
  • Flexibility to choose the type of long-term care that's best for you and your family
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​We'd love to talk with you about how Long-Term Care Planning
​can benefit you and your family.


​Connect with us for more information and
​to make an appointment.
LONG TERM CARE - BY THE NUMBERS
It's impossible to predict your chances of needing long-term care, or how long you may need it. And since cost of care can be expensive, it's important to understand the financial impact a few years of long-term care can have.
  • Nursing Home Care: The average cost of a year’s care in a private Medicare-certified long-term nursing home room is $107,000.*
  • Home Care: The average in-home care costs $50,918 a year for 40 hours of help per week.*
  • Assisted Living Care: A year in a 1-bedroom assisted living care facility averages $57,000 per year.*


$102,200 The national annual median cost of care for a private room in a nursing home.

$300,000+  Cost of three years of assisted living plus
 two years of nursing home care.
 
2020
Semiprivate room* $7,756 per month
Private room* $8,821 per month


​2030 (estimate)
Semiprivate room* $10,423 per month
Private room* $11,855 per month


2040 (estimate)
Semiprivate room* $14,008 per month
Private room* $15,932 per month


Many people believe that programs like Medicare and Medicaid will automatically pay all of their long-term care needs. While these programs do pay for some long-term care services, they may not cover the majority of your costs.

In Illinois, you have to spend all the way down to $2,000 in assets to become eligible for Medicaid benefits.

​Not all nursing homes accept Medicaid patients, and Medicaid can dictate which nursing home a patient may use. 

*Cost of Care Surveys, 2019 & 2020


ESTATE PLANNING

Long-Term Care Planning

REAL ESTATE


​​​THE KNEE LAW FIRM  LTD
103 W. PROSPECT AVENUE, MOUNT PROSPECT, IL 60056
PH 847-807-5633        FAX 847-637-0487​
Copyright © 2022
Photo used under Creative Commons from Sharon Mollerus
  • Home
  • ABOUT KLF
    • BILL KNEE
    • THE KNEE LAW FIRM LTD
  • KLF Services
    • LONG-TERM CARE PLANNING
    • ESTATE PLANNING
    • REAL ESTATE
  • EVENTS
    • Maria Ananieva Installation & Gallery Reception
  • Contact us
  • Pay an Invoice
  • Resources