The month of November is designated as Long-term Care Awareness Month. The monthly observation was created by The American Association for Long-Term Care Insurance in 2001 and is now recognized by Congress and several states.
According to LongTermCare.gov, nearly 70% of all adults over the age of 65 will need long-term care services and support and women will need care longer (3.7 years) than men (2.2).
Many people believe that a family member will take care of them when the need arises, but that may not be a sound plan. An adult child or family member may live far away, have career obligations or have children of their own. And, as we continue to live longer, that means potential family caregivers are older too and may not have the strength and stamina needed to provide optimal care.
With some planning, though, there may not be a need to rely on a family member or friend as the primary caregiver.
An option to consider when planning for long-term care needs is long-term care insurance. This type of insurance covers a variety of things not covered by regular health insurance, such as help with routine daily activities like dressing, bathing and getting in and out of bed.
These policies help cover the costs of a chronic medical condition, disability or disorder.
Having long-term care insurance in place can allow for more flexibility in choosing where or how you receive care as most will reimburse you whether you’re in your home with a paid caregiver or in a nursing or assisted living facility.
Long-term care insurance is just one way to plan for the future. To find out more, visit longtermcare.gov.
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