Any type of insurance involves risk, and a synonym for risk is "chance". There is a chance that you may need long term care services someday. It could be because you had a surgery that requires extensive rehab, you were diagnosed with an illness that requires long term treatment, you got Alzheimer's or dementia and could not be trusted alone, or you simply lost the strength to care for yourself.
Whether or not you need to plan for that contingency probably depends on how drastically that would affect you. If you have very little income and assets, Medicaid will cover you when your assets have been spent down. If you have a very large amount of income and assets, you may be able to pay for the care yourself. It is those in the middle who have the most to consider. For some, long term healthcare will be necessary when they look at the big picture. For others, it won't. it is really impossible to answer that question for anyone else.
.JPG){kind=avatar}
Whether or not you need to plan for that contingency probably depends on how drastically that would affect you. If you have very little income and assets, Medicaid will cover you when your assets have been spent down. If you have a very large amount of income and assets, you may be able to pay for the care yourself. It is those in the middle who have the most to consider. For some, long term healthcare will be necessary when they look at the big picture. For others, it won't. it is really impossible to answer that question for anyone else.