I love reading the local newspapers. I like to feel connected to my community, especially here in New Smyrna Beach and Port Orange where I live and practice law.
This week I read about a 100th birthday party held at a local assisted living facility for a lovely lady who is not only a centenarian but is also the oldest WWII veteran in the U.S. Navy WAVES, in Volusia County.
Then, I got to thinking: I know folks are living longer, but just how many centenarians are there in the USA?
According to the most recent Census Bureau statistics on this topic, nationwide, the centenarian population has grown by 44% in recent years, from 50,000 in the year 2000 to 72,000 in 2014!
This is means that more of us are going to need long-term care in residential settings. Not all of us will have enough money to pay for that care. Today, in Florida, the median annual cost for a room in an assisted living facility is over $3000. Care for a private room in Florida skilled nursing averages $8000 per month.
Now is the time to consider your options. If you do not have private long-term care insurance, and most Americans do not, you should consider an Asset Protection Plan which will allow eligibility for Medicaid Long Term Care assistance.
The Law Office of Debra G. Simms, will be glad to assist you with Asset Protection Planning. Call us today at (386) 256-4882.
