The long-term care crisis is upon us.
States are encouraging private citizens to purchase long-term care insurance to take the burden off the government.
The government is already having trouble paying the cost of long-term care for the indigent elderly.
The Partnership programscontinue to develop ways to educate consumers on the risks associated with long-term care.
Many states participate in the "{Own Your Future" campaign throughout the states.
The emphasis is on the importance of planning for long-term care in order to prevent future dependency on state public assistance programs.
As we the emphasis on Long-term care planning, this is definitely NOT as issue just for older people, In fact, once you face the issue of needing care, it's too late to plan.
No one like thinking about needing help to do basic activities of daily living-things such as dressing, or bathing, toileting or feeding yourself.
Or your parents or spouse.
This is no time for denial or procrastination.
Too often long-term care planning is put off until a health issue comes, is now is your medical record and you no longer quality for that "good health discount.
" Let's hope you are not disqualified from purchasing long-term care insurance entirely.
The good news is that we are all living longer.
The flip side to that is it costs more.
If you need daily personal care today, it cost about $7000.
00 a month depending upon where you live in the United States.
The cost of care is sure to rise faster than the rate of inflation as demand for care rises.
With all the baby boomers reaching retirement, who will provide this care especially if immigration is restricted? So, how will you pay for this care for yourself when you'll need it or for your parents in the coming years?Did your parents put a long-term plan in place so that they would not be a burden to you and your family? Will they be occupying the bedroom vacated by your child who just graduated from college? If this scenario looks familiar, you are part of the "sandwich generation.
"Having your parents in your home will look like a far better alternative for care than a ward in a Medicaid (Medi-Calin California) funded nursing home.
Medicaid or Medi-Cal is the welfare program that promises to pay for care-and it does so primarily in nursing home.
The choices you have for paying for long-term care are: 1.
Paying for care out of your savings and assets 2.
Purchase long-term care insurance 3.
Qualify for Welfare If you can afford at least some coverage, it will help pay for long-term care in all sorts of settings.
You will be able to receive home care, assisted living, adult day care or nursing home care.
Optimally, you should consult a Long-Term Care Specialist, an independent agent who sells policies from all the top carriers.
A long-term care specialist can help you compare the coverages and costs from all the carriers as well as design a plan that is suitable for you and your personal situation.
States are encouraging private citizens to purchase long-term care insurance to take the burden off the government.
The government is already having trouble paying the cost of long-term care for the indigent elderly.
The Partnership programscontinue to develop ways to educate consumers on the risks associated with long-term care.
Many states participate in the "{Own Your Future" campaign throughout the states.
The emphasis is on the importance of planning for long-term care in order to prevent future dependency on state public assistance programs.
As we the emphasis on Long-term care planning, this is definitely NOT as issue just for older people, In fact, once you face the issue of needing care, it's too late to plan.
No one like thinking about needing help to do basic activities of daily living-things such as dressing, or bathing, toileting or feeding yourself.
Or your parents or spouse.
This is no time for denial or procrastination.
Too often long-term care planning is put off until a health issue comes, is now is your medical record and you no longer quality for that "good health discount.
" Let's hope you are not disqualified from purchasing long-term care insurance entirely.
The good news is that we are all living longer.
The flip side to that is it costs more.
If you need daily personal care today, it cost about $7000.
00 a month depending upon where you live in the United States.
The cost of care is sure to rise faster than the rate of inflation as demand for care rises.
With all the baby boomers reaching retirement, who will provide this care especially if immigration is restricted? So, how will you pay for this care for yourself when you'll need it or for your parents in the coming years?Did your parents put a long-term plan in place so that they would not be a burden to you and your family? Will they be occupying the bedroom vacated by your child who just graduated from college? If this scenario looks familiar, you are part of the "sandwich generation.
"Having your parents in your home will look like a far better alternative for care than a ward in a Medicaid (Medi-Calin California) funded nursing home.
Medicaid or Medi-Cal is the welfare program that promises to pay for care-and it does so primarily in nursing home.
The choices you have for paying for long-term care are: 1.
Paying for care out of your savings and assets 2.
Purchase long-term care insurance 3.
Qualify for Welfare If you can afford at least some coverage, it will help pay for long-term care in all sorts of settings.
You will be able to receive home care, assisted living, adult day care or nursing home care.
Optimally, you should consult a Long-Term Care Specialist, an independent agent who sells policies from all the top carriers.
A long-term care specialist can help you compare the coverages and costs from all the carriers as well as design a plan that is suitable for you and your personal situation.
Source...