Even though most senior citizens will eventually need some kind of extended care, only 3 out of every 10 federal employees have considered a plan for covering long-term care costs. This according to a new study conducted by Government Executive magazine.
In fact, a full quarter of federal employees over 45 say they would currently be unable to handle the costs of long-term care if they suddenly needed to. The reality is that many more probably fall in this camp and simply don’t realize it, as there is still widespread unawareness about just how much long-term care really costs. 
The magazine astutely boils long-term care planning down to two essential steps:
- Gauge the potential costs of care (potentially hundreds of thousands of dollars a year).
- Choose a strategy for covering those costs.
Of course, that’s easier said than done. None us can know in advance exactly what kind of care we might need. And even though many people assume that health insurance and Medicare/Medicaid will foot the bill, the truth is that none of those offer specific coverage for the full scope of long-term care costs.
The good news is that many federal employees and some of their family members may be eligible for some additional assistance, though it still won’t cover all the costs.
At O’Connell Law, LLC, we understand the unique challenges that America’s federal employees face when planning for the future, and we’d like to help with those.
To learn more about your rights and your options for the future, please get in touch with our office as soon as possible. The best way to avoid unhappy surprises is to plan without delay.
