Cost of Care in U.S. States Increase
Each year, long term care costs by state go a notch higher and this is the reason that all Americans are advised to secure a long term care insurance (LTCI) policy as this is the only product that will protect their finances from the soaring cost of care.
No amount of work or saving tactics will protect one from potentially facing the prohibitive costs of long term care (LTC) services because these rise year after year due to so many factors. Inflation is a given then there’s the growing population that requires care which is not necessarily comprised of senior citizens.
Although always associated with elderly folks, LTC can be required by everyone regardless of age. In fact, based on a study which was performed by the Department of Health and Human Services 40% of today’s LTC recipients are comprised of individuals between 18 and 64. Among the reasons some people require this kind of health care too early in their lives are serious head or spinal injuries, multiple sclerosis, early-onset Alzheimer’s, and obesity among others.
Obesity, by the way, is a serious issue in the country as it is linked to various chronic illnesses such as diabetes, breast cancer, stroke, and heart diseases among others. Mississippi has, for the nth year, received the highest rating for adult obesity and diseases that originate from smoking use according to the Gallup-Healthways Week Being Index.
Although their state is labeled as the poorest in the country, Mississippians can avoid being on the mercy of Medicaid someday. Those of them who are in lucrative industries or businesses can surely afford to plan their future health care needs so that they can leave Medicaid to the needy. Nobody who planned his LTC ended up impoverished with his family, it’s always those who took this aspect of their lives for granted that ended up in misery.
Long Term Care Costs by State
Nobody in the country shall be spared from the high cost of care. It’s just in some states the figures go at a faster pace while slower in others. It depends on the population that demands for care and their accessibility to LTC facilities or services.
In a state where the elderly and disabled population exceeds the healthy population, you can expect rates of its nursing homes, assisted living facilities, in-home care services, and hospice program to be higher than the national average. Meanwhile, if a state has only a fraction of senior and disabled residents requiring care then the cost of LTC here is naturally smaller. However, a state that only has a small population of elderly folks is rarely found these days.
According to the experts in LTC, today’s generation is going to live into their 80s, 90s, even into their hundreds! This is actually good if nobody grows old sick and in need of LTC services. Unfortunately, most people develop serious health disorders as they age and their families can only give so much of their time and money.
Long term care costs by state are growing rapidly so pay close attention to the figures in your area and work out a plan while you still can. Keep in mind that nobody who braved the cost of care unprepared emerged successful.
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