Scary and Stressful – Family Caregivers Face Challenges
You might not be aware of how stressful and scary being a family caregiver can be unless you have personally experienced this role. More American families are facing a crisis when Mom or Dad requires long-term care.
Sometimes it is a significant health event or accident that places the family into an immediate crisis. Sometimes it is a steady decline due to aging or cognitive impairment. In either circumstance, family members must try to find ways to juggle the responsibilities unless a plan exists.
Don’t Catch Your Family Off Guard
There is no reason to place your family off guard. Your health insurance, including Medicare for those over age 65, will not pay for most long-term health care services. Without a Long-Term Care policy, the available solutions left would be personal income and assets or family caregivers - or both.
Affordable Long-Term Care Insurance pays for in-home care. However, many people are unaware of this fact. Over half of all LTC Insurance claims are for care at home.
More people have firsthand experience with a family member needing extended care. This reality shows the need to have an affordable solution to become more apparent. Plus, most people want to try to avoid a nursing home.
Most People Want to Age at Home – LTC Insurance Provides In-Home Care
When a long-term care event occurs, most people prefer to be at home or in an assisted living facility. Long-Term Care Insurance gives you the resources to stay in control and avoid being dependent on family to either provide care or make decisions on how your money will be spent on your care.
LTC Insurance works. In 2020 the top insurance companies paid over $11.6 Billion in benefits to American families.
Review the current and future cost of long-term health care services where you live by using the LTC NEWS Cost of Care Calculator. Then you can review your potential cash flow and the financial impact long-term care will have on you. You then purchase a plan that either at least fills the gaps.
You can completely protect income and assets and design a plan to take a catastrophic situation and make it manageable. Get the advice of an experienced Long-Term Care Insurance specialist to help you navigate the many companies and plan types that are available.
Find a trusted and qualified specialist by clicking here.
Experts suggest planning when you still have reasonably good health before you retire.