Who Would Benefit From Long Term Care Resources?
Being the gym buff that you are that only feeds on vegetables, you might never require long term care resources as you might never need long term care (LTC). Just in case you would, however, are you aware of the current cost of care, let alone the rate of a year’s stay in a nursing home or home care services 15 years down the road?
It’s difficult to force people to accept the fact that that one day their bodies will no longer be as strong as these are today. That one day, they will need a pair of extra hands to guide them in the activities of daily living such as bathing eating, dressing, toileting, continence, and transferring. And that in 2026 the cost of care will increase twofold.
Of course, it is easier to picture a future that is free from financial worries and smothered with comfort rather than one which involves home care, nursing care, and assisted living as these would normally invite the feeling of pessimism which should not be the case.
Growing old is the most natural thing in the world as it is part and parcel of the life cycle. Unfortunately, not many people are ready to face this reality because they are either scared of LTC expenses or they simply do not want to grow old.
If it’s the first reason, then it’s curable but if the reason people do not want to consider their options for long term care is the fear of aging, then we have a big problem here. Unless people acknowledge the fact that everybody gets old, they will never be able to enjoy their retirement years let alone plan it effectively.
Retirees Need Long Term Care Resources
When people retire from their jobs, they will naturally want to experience the things or activities which they never had the luxury of time to do before as they were neck-deep in work.
If you have planned your future health care prior to retiring then you can forget about this article and proceed with your plan for that Asia tour or elsewhere. Now if you only have $500,000 in your bank savings, it would be unwise to spend it on travels and vacations because should you require long term care someday this amount wouldn’t suffice your expenses for home care services, an assisted living facility or a nursing home.
Mind you, out of the 79 million elderly individuals aged 65 and older who will require serious care anytime soon, 40% will enter a nursing home and 10% of them will spend five years here.
LTC specialists are not seers so they cannot possibly pinpoint who among the individuals that comprise today’s elderly population will end up in a nursing home or who will be lucky to stay home and receive care from a family caregiver.
Through long term care resources which you can easily find online, you will be able to identify your choice of LTC setting, how to finance the LTC services that you would acquire, which LTC plan will help you protect your assets, and which insurance company pays family caregivers among others.
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