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May 22, 2012 at 10:56 PM
A company that helps retirement planners think about acute health care costs is adding a tool planners can use to analyze long-term care costs.
HealthView Services Inc., Danvers, Mass., which is also known as HVS Financial, is building an LTC cost projector into the retirement health cost planning software tool collection it markets to financial institutions and advisors.
The LTC planning component can help advisors predict when a client will be most likely to need LTC, how long the client might use formal LTC services, and how much the services might cost.
The federal government has estimated that 70% of individuals over age 65 will eventually need some type of LTC, with formal, paid care costing an average of $20,000 to $150,000 per year in 2012 dollars, the company says.
