Long Term Care is a Family Matter
When you are in your 30's, it may not be necessary to think about long term care issues. However, this should be the time to have the conversation with your parents and older family members to determine what they want to do should the need arise for them.
If you are in your 40's and 50's, you should start thinking about your own family's future and what long term care issues may lie in the future. This is when you want to talk with family and consider the following questions:
- Where would you like to get care at -in your home, assisted living facility or nursing home?
- If you prefer your home, who would provide the care?
- How much care could you need?
- How will you pay for care?
- Should you consider Long Term Care insurance?
Long Term Care Services
Long term care services may include help with activities of daily living (bathing, eating, dressing, toileting, continence and transferring), home health care, respite care, hospice care, adult day care, care in a nursing home, or care in an assisted living facility. It may also include care management services, which will evaluate needs and coordinate and monitor the delivery of long term care services.
If you ever have a long term illness or a chronic condition, you may require extended care at home, in an assisted living facility or nursing home. It is hard to know if and when one will need long term care and how much a long term care event may cost, but there are some statistics that may help.
- About one out of every four 65-year-olds today will live past age 90, and one out of 10 will live past age 95.1
- An estimated 11 million U.S. adults need some type of long-term care.2
- The lifetime probability of becoming disabled in at least two activities of daily living or being cognitively impaired is 68% for people age 65 and older.3
- Research shows that about 70% of people age 65 or older will need long term care services at some point in their lifetime.4
So whether you are looking to help protect your parents, yourself or your children from the ramifications of a long term care event, Long Term Care insurance may be a solution that you and your family consider.
Long Term Care is your choices for independence and financial security.
4 Medicare & You. National Medicare Handbook, Centers for Medicare and Medicaid Services,revised November 2012. For copies of this publication call 1-800-Medicare