Your Daily Heap of Long Term Care News
Reading long term care news regularly will enhance your vocabulary, increase your awareness of different issues surrounding the industry, and most importantly it will help you make the right decision for your future.
Unfortunately, studies reveal that not many people show interest in the long term care (LTC) industry because majority of the population thinks they won’t need it. There’s a bigger percentage of Americans who have not planned their future health care needs yet because they are working too hard; opting for overtime or double shifts after their regular working hours because they believe their efforts today will make them financially free tomorrow.
Only a handful of the middle-class understands that no amount of hard work will guarantee them of a comfortable future considering the high cost of care which awaits them. If you’re going to grow old with nothing but your retirement pay, Social Security allowance, and limited nest egg there is no doubt that you will outlive these resources and eventually become impoverished.
Inflation takes place every year triggering LTC costs to increase by approximately 5%. By the time you decide to retire, the amount of money that you will receive from the company which you’ve loyally served for decades will only be a fraction of the country’s average cost of care.
If you really want to be financially free someday you have to listen to what professional financial advisers are saying. They have been constantly pushing everybody to plan their LTC because the cost of care will increase four times in the next 20 to 30 years.
Individuals with insufficient knowledge about LTC ought to know that this kind of health care service will cost your entire annual income if not exceed it. Yes, that’s how expensive it is and the government won’t shoulder your expenses should you end up in a nursing home, in an assisted living facility, or any other LTC facility.
Fresh Long Term Care News
Speaking of the government, it has no definite plan for the country’s looming LTC costs. At least that’s what’s evident in President Obama’s recent State of the Nation address.
In his speech, the President mentioned housing and creating jobs for everybody but he did not say anything about how to resolve LTC costs or the defunct Community Living Assistance Services and Supports (CLASS) Act which created a stir few months before the curtains closed on 2011.
Perhaps that foretells what would be of every Joe and Jane’s future if they don’t start planning their LTC already.
There are many ways that one can plan his future health care needs but the most popular is through a long term care insurance (LTCI) policy. This type of insurance product will not only serve as a ticket to the best LTC services in the country, it will also protect one’s nest egg and other assets from going down the drain.
However ideal LTCI is, it is not for everybody. Perhaps you may also want to look into reverse mortgages, annuities and hybrid LTCI policies among others. Check out daily long term care news as these generously offer helpful information about the best LTC plans.
Structure your retirement years properly by taking advantage of freebies we offer like CLASS act information and free long term care quote.
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