National Quotes’ recent research shows that women nearing retirement age are less prepared for the cost of health insurance for long term care than men. Many women assume the role of primary financial provider and caregiver due to the fact that they typically live longer than men. Unfortunately, they do not realize just how much health care costs after retirement can impact their lives, both financially and emotionally.

De Baca, executive of Ameriprise Financial, reports, “It’s especially important that women begin saving early and plan for a longer retirement because they have longer average life spans and spend more time out of the workforce.” If a woman plays the role of home care giver and she becomes widowed, then she will not have a spouse to provide the necessary care and will have to look to family members for assistance.

Currently, women outlive men an average of 5 years, allowing a 10 times higher chance of reaching the age of 85. According to Jesse Slome, executive director of AALTCI, “The vast majority of women who are age 50 or older considerably underestimate the risk and have no plan in place.” In another study AALTCI discovered that two-thirds of the 6 billion dollar benefits paid is designated to women under long term care.

Unfortunately, a lot of women believe that Medicare or Medicaid will assist them when it comes to health insurance; but they do not realize that these programs will not completely pay for long term care. Granted 65 percent of women seek out assistance from a financial advisor, but only 1 in 10 actually discuss health care costs aside from Medicare and Medicaid. NationalQuotes.com can provide relevant information and health insurance quotes to assist women seeking long term care.

National Quotes recommends that women nearing retirement age seek out a supplemental insurance plan, such as an HMO, PPO, or POS, to help cover the excess costs. Each of these plans can be tailored to meet specific health insurance requirements and will bring a woman added security as she draws closer to retirement age.