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counselors are your guide to maximize your benefits and savings. Michigan%u2019s SHIP doesn%u2019t sell Medicare plans %u2013 they just help you understand them. Covering Costs for Skilled Nursing Facility (SNF) Care %u2013 Your medical condition, or that of a loved one, might reach a point that 24-hour skilled nursing care is needed. Long-term care can be tremendously expensive, and unfortunately, your options for covering it are limited. Costs in our region start around $300 per day for a semi-private room and $330 per day for a private room, and can go up over $480. Annually, that calculates to a range of nearly $110,000 to more than $175,000.Ensuring that you have adequate dollars to support a skilled level of care in the future takes intentional planning. One way is to rely on your personal savings or a loan, like a reverse mortgage. Another is to buy long-term care insurance, which is sold by many insurance companies but is more difficult to find than before. Long-term care policies may limit what conditions they cover. Generally, though, you become eligible for benefits once you can no longer perform a set number of the activities of daily living or become cognitively impaired. At that point, premiums typically are waived while you receive benefits.The earlier you buy a policy, the better. The premium gets more expensive the older you are. Be sure to thoroughly read each new policy at your renewal to see how benefits and costs are changing. You may also be able to trade in your life insurance policy for long-term care insurance. People who have worked for the government or were in the military may qualify for discounted insurance. Some costs may also be covered through the Aid and Attendance program previously mentioned. If your income or assets are low enough you might qualify for Medicaid, which will cover most of your long-term care costs.Many people don%u2019t qualify for Medicaid because their assets are too high. As a result, they will need to pay for long-term care on their own initially. Then, once that money is exhausted, and their assets are low enough, they can then qualify for Medicaid coverage. Medicaid programs are run by individual states. Be aware that Medicaid does have a five-year look back period. Assets given away during the most recent five years will still count in dollars available at the time you apply for benefits. Talk to an elder law attorney to determine what might be the best route for your family. The Benefits.gov website can connect you to information about your state%u2019s Medicaid plan. For more information please contact your MI Options Counselor at 1-800-803-7174. Note: Costs are from actual 2024 rates, estimated 2026 rate increases, and state averages provided by Medicaid, AARP, American Council on Aging, and Cost of Care Surveys.CONTINUED Cover Your CostsFeeling uneasy about the market? You%u2019re not alone %u2013 and retirement was never meant to be stressful. This season of life should be about confidence, comfort, and enjoying what you%u2019ve worked so hard to build. We help retirees and those nearing retirement create a thoughtful plan that smooths out market ups and downs and delivers dependable income you can count on. Take the next step toward a more secure, worry-free retirement %u2013 call us today for a complimentary retirement review and see how peace of mind can fit into your future. Give us a call at 269-441-1444.15 Capital Ave. NE Suite 104 Battle Creek, MI 49017Securities & Advisory Services offered through Harbour Investments, Inc. Member SIPCNEED HELP WITH YOUR RETIREMENT?Connor Bauserman, ChFC%u00ae & Danford Byrens Financial Advisor%u2019s SENIOR HOUSING DIRECTORY | 202634