Federal employees can enroll anytime, but the sign-up form has fewer questions during open season.
Beth O’Brien, senior account manager at Long-Term Care Partners, said the average cost of a stay in a nursing home in the Washington area is between $85,000 to $95,000. And assisted living costs upwards of $5,000 a month, she said.
“This is the sort of funding that will be diverted from their retirement annuity,” O’Brien said. Federal retirees must ask themselves, “is there enough to go out the door to pay for these costs but also maintain a standard of living for a spouse at home?”
LTC comes down to three simple decisions, O’Brien said: