The demand for long term care for baby boomers is expected to be higher as baby boomers reach their prime years. While a lot of Americans recognize the need for this special kind of care and services, only 44 percent have started planning to insure their health and ensure their protection. However, this planning do not necessarily mean availing long term care insurance (LTCI), most of this 44 percent only took steps to save more.
As baby boomers get to 80 or 85 years and older, and as the population age, the chances of requiring LTC are higher. When they grow old, it is possible that they may not be able to manage the activities of daily living which includes the following: personal hygiene and grooming, dressing and undressing, feeding oneself, functional transfers, voluntary controlling urinary or fecal discharge, elimination and ambulation. This is why it is important to plan and be sure that when this time comes, there will be someone to assist them in doing such activities or that they can get into a nursing home or assisted living facility.
While many see the advantages of such services, many are also discouraged to get it due its high costs and continuously rising rates. However, most of them do not know that not having an LTC plan prepared will only increase the possibility of creating a dent on the family?s finances. Diseases and disabilities will likely call for expensive medications and treatments and if one do not have an insurance to pay for it, he will experience the shattering experience from paying from his own pocket which can drain all his financial resources.
Long term care for baby boomers is a good option when it comes to securing health while avoiding shouldering of medical expenses and the sacrificing of assets for nursing care or home care services. Medicaid and Medicare can provide assistance but it is required that one meet up their qualifications first before he can take advantage of the limited coverage.
Other than financial challenges, social and demographic changes also produce a strain on LTC. While most families assign their members to provide the care to their loved ones, the alarming rates of declining family sizes, rising childlessness, and growing cases of divorce are expected to affect the possibility of having family caregivers. Also, as women in the family are more likely to provide the care needed, their involvement in the labor force may limit their time and capability in taking the responsibility.
These challenges should convince Americans to see the value of planning early and the importance of long term care for baby boomers. The possibility of needing LTC in the future should be everyone?s concern. Do not heavily rely on savings, family members or government welfare assistance programs to provide help in the future. As early as now, do not take for granted the benefits of availing LTC plans. After all, this ultimately is a good option to secure proper health care service in your prime years.
Are you a baby boomer planning to purchase?long term care insurance? Visit our website to know the various?long term care plans?available in your state.
Source: http://www.mycontentbuilder.com/challenges-that-can-be-solved-by-long-term-care-for-baby-boomers/
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