One of the many challenges Americans are facing today is the difficulty in dealing with long term care. The costs are too high, it’s hard to trust care providers, and the prevalence of elder abuse—these are just some of the concerns that many face, and it is easy to see how it can be overwhelming. With all the buzz that has been going around about these issues, many have said that we need long term care planning. Certainly, that is an absolute must, especially in this day and age, but how do we achieve that, anyway?
MeInsured.ca understands this concern, and we want to help.
We believe that proper information is key to finding the best solution to any problem. So let us talk about long term care planning and how you can deal with this seemingly impossible task.
Also, feel free to let us know in the comments section any topic you wish for us to discuss in our posts. We’d be glad to help!
Currently, 76.4 million baby boomers (individuals age 52 to 70) are living in the United States. With their numbers, according to Long Term Care Plans: Do We Really Need Them?, there have been talks of this generation overwhelming the industry’s ability to provide adequate care. Of course, various long term care establishments have been steadfast in preparing for the potential influx, but a person can never too sure of the future that lies ahead.
Our advice is this: start planning as early as you can. No matter how old you are or how limited you might feel financially established a comprehensive plan for your future.
It goes without saying that a long term care plan is necessary, though many people still choose to skip it. Now, let’s talk about why this is important.
Long Term Care Isn’t Just for the Elderly
One of the biggest misconceptions that many people have when it comes to long term care is that only the elderly need it. However, younger individuals find themselves needing the care services earlier than they anticipated. According to the National Center on Caregiving, 3.7 million people 64 years old and younger are in need of long term care. As you can see, planning before early can cover these kinds of circumstances.
Your Loved Ones are Secured
Adult children caring for and supporting aging parents has become a common occurrence among families now. Although this may sound ideal for many individuals, you must stop and think twice before you require your children or spouse to assume these roles. Many of the younger people are joining the ranks of the Sandwich Generation—the individuals who are stuck between caring for their parents while finding ways to support boomeranging children.
Planning early keeps your family members from finding themselves in this situation. Plus, it sets a good example of how efficiency in long term care planning can create a significantly better future.
Future Independence Through Long Term Care Planning
Many older adults crave for one thing: independence. No one wants to feel like they are a burden to their loved ones, but sometimes, it becomes inevitable. Long term care needs arise, and not many have prepared enough for the costs. This leaves them with no choice but to depend on family members, relatives, and even Social Security (which we all know is unstable).