Only those who are seriously looking for a long term care quote that is suitable for their long term care (LTC) needs will manage to find the right one.
Others, whose interest to purchase an insurance policy for full LTC coverage is only ignited by pressure from the government or financial planners, will never be able to plan their future health care effectively.
One’s purpose in planning his or her health care should stem from the objective of sparing the family from worrying about where to pull out the funds to spend in home care and LTC facilities such as an assisted living, adult day care health center, nursing home, or any type of continuing-care retirement community.
With this objective, it will be easier for one to think clearly and efficiently plan his health care which he will need probably 40 years down the road.
Why plan one’s health care needs so early in life?
Nobody knows when he would need LTC services. Forget the notion that LTC was designed for aging folks and people with a predisposition towards life-threatening diseases or maladies. Everyone will require LTC at some point in his life; in fact you might need it next year or next month.
The question is, are you ready in case the need for it arises?
Disabilities resulting from vehicular collisions, a slip and fall, and chronic illnesses usually end up in long term care. Who would’ve thought that at the young age of 40 the late actor Christopher Reeve would be put under intensive care after falling off his horse? At 30, Back To The Future trilogy star, Michael J. Fox acquired Parkinson’s and so did the world’s favorite boxing superstar, Muhammad Ali, right after his retirement from the sport which made his him world-renowned.
By anticipating the worst that can happen to you and how it shall affect your family, you can be tagged a pessimist. Why, better be called this rather than be caught off-guard by events that will consequently put you in a situation you are not ready for.
Today’s cost of care is too high you can only wish for the realness of immortality so that you can escape the five figures which members of the present elderly population are forking over to LTC facilities and in-home care.
Unfortunately, the five-figure rates of LTC facilities will soon double according to LTC specialists and before the public can adjust to it, another wave of increase will take place this time it’s going to be fourfold!
From $81,843 annually, a private room in a nursing home will cost $327,372 in 2030 while a home health aide that charges $19 an hour will cost $76 by that time.
There’s no denying that tomorrow’s cost of care will kill people’s finances but if you think about it, you’re luckier than many individuals today who got caught in the web of long term care expenses as they have failed to prepare for it. You still have time to request a long term care quote and avoid ending up like them.