How women can plan for long-term care in retirement

Women are more likely than men to need longterm care later in life, making it an important retirement planning issue, according to financial advisers and government data. The article notes that about 57% of Americans who reach age 65 will develop a disability serious enough to require longterm care, and women are more likely to need care for longer periods. Because women generally live longer than men, they may face this cost after a spouse has already used family assets or is no longer there to help. Experts say Medicare usually does not cover longterm care, so people often rely on family support, Medicaid, personal savings, or insurance. Costs can be substantial, ranging from paid help at home to nursing home care that can exceed $100,000 per year. Financial advisers suggest starting early, comparing standalone and hybrid insurance policies, and considering shared coverage for couples. They also recommend reviewing premiums carefully, since women often pay more for coverage than men and rates can rise over time.