Long-Term Care Isn’t Just Likely — It’s the Unseen Financial Storm Many Families Will Face

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                                      HAVE YOU PLANNED FOR TOMORROW?

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Nearly 7 out of 10 people over age 65 will need long-term care at some point in their lives. Yet most families are completely unprepared for the emotional and financial toll it brings. You might think, "It won’t happen to me," but chances are high that it will happen to someone you love — or to you.

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• A stroke, a fall, a cancer diagnosis.

• A parent slowly losing independence.

• A spouse needing help with basic daily activities.

 

When long-term care becomes necessary, it hits hard and fast. The question is: Will you be ready?

 

The True Cost of Long-Term Care in South Carolina (2024 Averages)

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Type of Care                                                     Monthly Cost                                   Annual Cost

 

Home Health Aide                                                $4,910                                                $58,920

Homemaker Services                                           $4,790                                                $57,480

Assisted Living                                                       $4,550                                                $54,600

Nursing Home (Semi-Private)                             $7,756                                                $93,072

Nursing Home (Private)                                       $8,698                                                $104,376

Adult Day Care  (20 hours per week)                 $1,668                                                $20,016

 

Medicare doesn't cover most long-term care. Medicaid only steps in after you spend down your assets.

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​​​The Emotional Toll: What Happens Without a Plan?

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• Spouses become full-time caregivers

• Children take time off from work or have to relocate

• Family savings are drained rapidly

• Stress, burnout, and family tension skyrocket

 

Everyone knows someone who’s been through this. A neighbor, friend, maybe even your own family and,

the problems that they faced. Without a LTC plan in place, care can quickly become a financial & emotional crisis.

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Here Are Your Options for Long-Term Care Coverage?​

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1. Traditional Long-Term Care Insurance

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• Pay-as-you-go annual premiums

• If you never use it, you lose the money

• Rising premiums common as you age

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2. Self-Funding (Less then 10% can provide their own care)

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• Using personal savings, home equity, retirement accounts

• Risk: Care can wipe out assets quickly

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Most people do not have a $100,000 to $200,000 in savings to even contemplate providing paying for their own care

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3. Relying On Medicaid (Strict Qualifications)

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• Income Limit: In South Carolina, as of 2025, a single applicant's income must be below $2,901 per month. Covers care for up to 12 months

• Asset Limit: The applicant must have countable assets under $2,000. 

• These limits often necessitate individuals to "spend down" their assets, potentially depleting life savings to qualify.

• Medicaid may seek reimbursement for LTC costs from the individual's estate, potentially impacting the inheritance left to heirs. (Called Estate Recovery Plan)

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4. Hybrid Long-Term Care Insurance

 

*The Option More & More People Are Choosing*

 

Hybrid LTC combines life insurance or an annuity with long-term care benefits:

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• If you need care, receive tax-free monthly benefits

• If you never need care, your family gets a death benefit

• If you change your mind, some plans include return of premium options

 

No wasted money. No uncertainty. Full flexibility. Premiums that are guaranteed for life. One of the best plans: Nationwide’s CareMatters II plan, for example, provides cash benefits with no receipts required and allows you to choose where and how you receive care — even from family members.

 

Why More Families Are Choosing Hybrid LTC

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✅ Protects your assets and your legacy

✅ Provides tax-free benefits if care is needed

✅ Leaves a guaranteed benefit to loved ones

✅ No "use-it-or-lose-it" risk

✅ Premiums are locked in

 

You’re not just preparing for care—you’re buying peace of mind. With this option you are guaranteed your premium dollars will ever be wasted.

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Don't Wait Until a Crisis Hits

 

The Best time to plan is "Now" before you need care. If you wait until care is required, your options will be very limited. For those who say I don't need care now so, I am going to wait and see. Our next section will show the cost of waiting.

 

Here is Another Factor to Consider. The Longer You Wait, The More It Will Cost You

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The average cost of long-term care in South Carolina is already high — and it’s projected to nearly double in the next 20 years. If you’re planning to “wait and see,” you could be looking at over $200,000 annually just to stay in a private nursing home. Over $250,000 for 24/7 care while at home. And, that’s not counting inflation, medication, or unexpected complications. Planning now means paying less later.

 

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Don’t leave your future — or your family’s finances — to chance.

 

At Shanley Insurance Agency, we’ve helped families in Pickens, Oconee, Anderson, and Greenville Counties and across the state of South Carolina for over 25 years with their health needs.

 

We can help you:

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• Understand your true long-term care risk

• Explore hybrid LTC and short-term care options

• Customize a plan that fits your needs and your budget

 

Start Your Long-Term Care Planning Today

​​Schedule Your Free Planning Call Today → Contact our office

Shanley Insurance Agency offers Long-Term Care Planning in the State of South Carolina. Trusted Local LTC experts in South Carolina since 1999.