Who Should Plan for Long Term Care?

We’ve heard many times from people in the health care industry that long term care (LTC) is not for everyone.  Some may need it while others won’t.  However, there was not a time these experts said LTC plans and long term care quote are not important.  As a matter of fact, everybody is advised to formulate something for the future so that in the event that he would need care he can acquire one of topnotch quality.

Right now, more than 70% of the population receiving LTC is comprised of elderly people 65 years old and older.  This does not mean, though, that the young ones are exempted because according to the data of the U.S. Department of Health and Human Services 40% of LTC recipients are from the 18 to 64 age bracket.

You can say that LTC is unpredictable that is why there’s a need to plan for it in advance.  Although studies show that it’s mostly the senior folks that require care, young people can be subjected to it unexpectedly.  For instance, LTC was the farthest thing from the minds of 30-year-olds who have acquired multiple sclerosis or early-onset Alzheimer’s, but now they are in nursing homes and their families are trying their best to raise the money that will ensure these young people of quality care.

So, if you are in your 40s, or perhaps 50s, you’re lucky that you’re still active and healthy but it is wrong to presume that there will never come a time that you’ll need an extra pair of hands to help you get food in your mouth, in bathing and changing your clothes, move from your bed to a chair or vice versa, or in using the toilet.

Financial Protection from LTC Plans

Who won’t need some level of care when he is past 75 years old or make it 80?  People’s bones get weak as they age unless they are Superman.  Aside from physical limitations, one’s memory will gradually deteriorate, too.  Once you start experiencing any of these you will definitely need some help and mind you, that help will cost a lot of money.

Unlike regular health insurance, long term care insurance (LTCI) is optional.  However, with the latter you will receive asset protection apart from quality health care.  Health insurance only provides limited coverage that is why most people with this type of insurance product say they hardly feel that they are insured.

Receiving custodial and medical care will definitely cost more than a month’s supply of Diovan, Flomax, Xenical, or other maintenance medications which you can buy with a discount if you have health insurance.  Should the time come that you would need extensive nursing home care as these medications no longer work for you, you won’t find your health insurance anywhere because it does not provide nursing home coverage.

LTC plans are designed to ensure people of normal lives no matter how serious their health condition is.  With such a plan you can rest assured that your health, finances, and family are going to well protected.


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