ELDER CARE

Elder Care: The Bottom Line

With many Americans living longer than ever, caring for an older loved one can place a huge financial strain on any family.

Whether your family member lives in your home or enters assisted care, one thing is certain, elder care is costly and those costs are on the rise. The Association of Retired Persons (AARP) estimates that it costs approximately $50,000 per year for nursing home care and that the patients and/or their families are ultimately responsible for over 40% of those costs.

If you find yourself in the position of caring for a parent or loved one, Lockheed Federal Credit Union can help. Since these expenses are often unforeseen, consider visiting one of our Certified Financial Consultants. The professionals at LFCU Financial Services, Inc. can help you structure investments and assit with estate planning services. Call (800) 553-3707 today to make an appointment.

LONG-TERM CARE
Our Long-Term Care plan provides health maintenance services not covered by other major insurance plans. They are available in many states and are for members ages 40-84.

With long-term care insurance, it's good to start early. If you wait in until you are 75 to purchase this insurance, the price may be fairly steep. Many policies allow you to buy in your 50s and enjoy a fixed premium for the rest of your life. This can be a good deal. For more information, call (800) 328-LFCU, ext. 2251.

MEDICARE SUPPLEMENT INSURANCE
Our Medicare Supplement Insurance helps pay Medicare-eligible hospital costs, doctor fees, and other medical expenses, which are not fully reimbursed by Medicare for members 65 years and older (not available in MA, MN, NY, and WI). For more information, call (800) 328-LFCU, ext. 2251.