Let’s Learn with Katie Diemer
When most people think about retirement planning, they picture the fun parts — traveling, family time, and finally enjoying the life they’ve worked so hard to build.
What they don’t picture is long-term care.
But the reality is this:
Long-term care is the single biggest threat to a family’s financial and emotional stability during retirement and most people never see it coming.
And by the time they realize Medicare won’t cover the care they need, it’s often too late to protect the people they love from the consequences.
This blog isn’t meant to scare you.
It’s meant to prepare you.
Because preparation is the only way to protect your health, your wealth, and your family’s peace of mind.
🏡 Most Long-Term Care Happens at Home — Not in Facilities
One of the biggest misconceptions about long-term care is imagining a nursing home or assisted living facility.
But the claims data tells a very different story:
- 74% of long-term care happens at home
- Only 13% occurs in assisted living
- Another 13% in nursing homes
If care is needed, chances are it will happen in your home, with the people you love trying to manage the day-to-day responsibility.
And that leads to a reality many families never think about…
👥 Caregiving Doesn’t Just Affect You — It Impacts Your Entire Family
When long-term care planning isn’t in place, the responsibility normally falls on:
- A spouse
- An adult child
- Or a family member who becomes the “go-to” caregiver
And the impact on their lives is enormous:
- 46% of caregivers report a decline in their own health
- 41% experience depression
- 40% say it strains their marriage
- 75% miss work, creating financial stress
- 35% report repeated absences from work, risking job stability
Caregiving becomes a full-time job — without pay, without training, and without emotional support.
Because long-term care isn’t just a health event.
It’s a family event.
📉 Medicare Doesn’t Pay for the Care Most People Need
This is the biggest misconception.
Many retirees assume that because they’ve paid into Medicare their whole lives, it will cover long-term care.
It does not.
Medicare only provides very limited, short-term skilled care — not the ongoing help with daily activities (bathing, dressing, eating, mobility) that most people need as they age.
So what happens without a plan?
Families turn to:
- Retirement savings
- Personal income
- Help from children
- Or high-interest debt
And the financial fallout can reshape the rest of a family’s future.
💰 The Financial Reality: Care Is Expensive and Costs Are Rising
Here’s what really happens when a family has no coverage:
- 61% of families end up paying for professional home care out of pocket
- 63% pull from their retirement accounts
- 42% stop contributing to savings altogether
And with the average cost of home care increasing every year, even a short care event can derail decades of financial planning.
But many care events aren’t short…
🕒 Care Can Last Much Longer Than You Expect
When people think of long-term care, they imagine a few months of support.
But reality tells a different story:
- The longest claim lasted 22.5 years
- The largest claim reached $2.1 million
Most retirement portfolios are not designed to support an unexpected million-dollar expense — especially one that lasts decades.
And the most common reason people need long-term care?
🧠 Cognitive Decline: The #1 Driver of Long-Term Care Needs
Cognitive conditions like Alzheimer’s and dementia require long-lasting, hands-on support — often around the clock.
And this isn’t rare:
- 51% of all long-term care dollars go to cognitive-related claims
Once cognitive decline begins, families face:
- Years of care
- High costs
- Emotional strain
- The need for constant supervision
This is why planning early — before symptoms ever appear — becomes essential.
💡 The Solution: Protect Your Family Before They Have to Carry the Burden
Long-term care protection isn’t about “if” something happens.
It’s about who pays — and who suffers — when it does.
A well-designed long-term care plan:
- Protects your retirement savings
- Keeps you from becoming a financial burden
- Prevents family caregivers from sacrificing their health and stability
- Gives you the ability to receive care where you want — often at home
- Provides predictable, guaranteed funding for unpredictable life events
It turns an overwhelming crisis into a manageable season.
🌟 The Bottom Line
Long-term care isn’t just a planning tool.
It’s peace of mind for you and protection for your family.
Because you don’t plan long-term care for yourself.
You plan it for the people who love you.
If you want to understand how long-term care fits into your overall retirement strategy, or how to protect your family from the hidden costs of caregiving, I’m here to help you put a plan in place that supports your health and your wealth for years to come!
