Long term care planning is about having the right mindset rather than hitting a specific age, according to panelists participating in a recent webcast sponsored by Lincoln Financial Group.
According to the Department of Health and Human Services, at least 70 percent of people over age 65 will need long term care services at some point in their lives. [See also Report reveals income, race LTCI gap]
Social programs like Medicare and Medicaid have traditionally provided resources for paying for LTC, but according to Steve Moses, president of The Center for Long-Term Care Reform, it's not going to be reliable in the future.
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