LTC News expands free tools for long-term care planning

LTC News has added free consumer resources as many older Americans still assume Medicare will cover long-term care costs. The expanded tools aim to help families estimate local care prices, understand coverage gaps, and plan before a crisis hits.

Why it matters: - Medicare does not pay for most long-term care, yet many older adults still assume it does. - That misunderstanding can leave families facing five- and six-figure bills for care later in life. - The new LTC News tools are designed to help consumers price care, compare options and plan earlier.

What happened: - LTC News expanded its free consumer education resources at ltcnews.com for long-term care planning and cost awareness. - The release says 62% of adults age 50 and older incorrectly believe Medicare covers long-term care and a permanent nursing home stay, citing the University of Michigan National Poll on Healthy Aging. - James Kelly, an editor and correspondent at LTC News, called the misconception "the most expensive myth in retirement planning."

The details: - Medicare covers short-term skilled nursing facility stays for up to 100 days after a qualifying hospital stay. - Patients face significant daily co-pays after day 20. - Medicare coverage ends entirely after day 100. - Medicare does not cover custodial care, including help with bathing, dressing, eating and mobility. - LTC News says home care can easily reach $6,000 per month or more, depending on location. - Assisted living averages $5,000 to $6,000 per month in base costs, with an added surcharge that can add up to another $2,000 a month. - Around-the-clock skilled nursing care can exceed $11,000 per month in many markets. - Multi-year care needs can create out-of-pocket exposure of $350,000 or more, depending on duration, geography and timing. - The University of Michigan survey found that 48% of adults 50 and older do not know how to plan for long-term care. - The same survey found that 57% of adults 50 and older do not believe they will need long-term care. - U.S. Department of Health and Human Services research says 56% of Americans turning 65 today will need some form of long-term care. - That care is defined as needing help with two or more activities of daily living or supervision due to cognitive impairment.

Between the lines: - The resource expansion targets a planning gap that persists even as long-term care costs keep rising every year. - Matt McCann, CLTC, one of LTC News' expert panel reviewers, said people often avoid long-term care planning the way they avoid writing a will. - McCann said the best time to plan is while a person is healthy, when options are open and long-term care insurance can still be more affordable.

What's next: - Families can now use the LTC News Cost of Long-Term Care Services Calculator to enter a ZIP code and see local costs for home care, assisted living, memory care and nursing home care. - The calculator is powered by a survey of long-term care costs that LTC News says uses actual provider pricing nationwide rather than retail rates. - The LTC News Long-Term Care Insurance Education Center provides guidance on care types and long-term care insurance options. - The LTC News Caregiver Directory offers a searchable national database of home care agencies, assisted living communities, memory care facilities and nursing homes, with costs and quality data. - McCann said the tools are free and that families only need to take the first step.

The bottom line: - LTC News is betting that clearer cost data and free planning tools can help families confront long-term care needs before a medical crisis turns into a financial one. - More information is available through the company's Facebook page and X account.