A recent radio program featured interviews with various experts in the field of health care and elder care on the subject of Long Term Care Insurance. Though approaching the subject from various angles, including a Long Term Care Insurance professional, a caregiver, a life coach, physical therapist, among others, they all agree that proper planning for the long-term care needs of both your elders and for yourself is smart. Long Term Care Insurance has gained a lot of ground in recent years as the baby boomer generation begins to retire and many are faced with the harsh realities of long-term care.
Services that assist with activities of daily living fall under the general umbrella of long-term care and are not covered by regular health insurance or Medicare. They are considered “non-medical” meaning that while an individual may be stricken with Alzheimer’s or dementia, rendering them incapable of being left alone, eating or getting in and out of bed, for example, these “side effects” of the disease are not considered medical and are thus not covered by health insurance. A Long Term Care Insurance policy is required to cover these costs, which can be significant. Healthcare experts and caregivers agree that Long Term Care Insurance is smart for planning for these long-term care scenarios.
I as a mystery shopper, decided to shop for long term care insurance after hearing about a friend who was having so much trouble trying to care for her father. The info and inside info I gained was invaluable.
Jodie, a 56-year-old professional at the height of her career recently found out that her father had developed Alzheimer’s disease, a debilitating and degenerative condition that most often requires long-term care. He did not have any Long Term Care Insurance and had substantial but not exorbitant assets that he hoped to pass on to his children. So, Jodie and her husband decided that her father would need to move in with them for the time being. The emotional and psychological strain that came with this move was something that Jodie was not prepared for. In this case, the long-term care needs of her father were having an unforeseen and detrimental effect on Jodie. Watching her father deteriorate while trying to maintain a high-powered career and see her children off to college proved to be too tough for Jodie, and she was forced to take a leave of absence from her career to care for her father. Good site for families struggling to find help caring for dementia patients: http://www.helpguide.org/articles/alzheimers-dementia/dementia-and-alzheimers-care.htm
As healthcare experts and eldercare givers will report, these are hidden consequences of poor long-term care planning. Jodie’s situation above is, in many ways, a mild variation on this theme. She lives close to her father and had a large house with plenty of room for her family to accommodate the new arrival. Often, in today’s mobile society, children live many states away or on an opposite coast from their parents and must uproot their entire lives to care for their aging parent. But, this does not diminish the emotional and psychological trauma that Jodie has endured caring for her ailing father. She plans to purchase a Long Term Care Insurance policy now, while she is in her 50s and healthy to insure that her children don’t have to endure what she has gone through with her father.
There is a company my parents used called LTC Tree or found here https://www.ltctree.com/long-term-care-insurance/ help you the way they assisted Jodie with her Long Term Care Insurance policy. Sound advice on Long Term Care Insurance can be hard to come by, but we are experts in the options and can help you make the right decisions for you, your family and your future retirement plans.