Aging in place
If you are planning to age at home you will more than likely require some type of in home assistance. The level and duration of care you require may vary anywhere from a few hours a day all the way to regular and live in care. If you factor this in addition to the fact that over 10,000 baby boomers will age 65 and over between now and 2030, it is no surprise that the demand for in home care will only continue to rise. This raises the question for many individuals of how will I pay for my future in home long-term care?
In home care or homemaker services, refer to supportive care and assistance offered to individuals within their own homes. This care may be provided by both skilled agencies, family, or contracted help. This is assistance is provided to individuals in a continual and long term basis. The services provided are aimed to help elderly individuals with their daily living function while allowing them to maintain as much independence as possible. Some of these daily living activities include but are not limited to:
- Bathing & Grooming.
- Dressing & Undressing.
- Meal Preparation & Feeding.
- Functional Transfers.
- Restroom Use and Maintaining Continence.
- Memory Care
- Grocery shopping
- Tidying of home
- Medication Management
Long-Term Care Insurance
Although it is impossible to know when and if you will require long-term care, you do know that any unexpected injury, illness, or global crisis could change your sudden needs. The best time to plan for your future care is before you actually need it. This will allow you time to learn about the best care available around you and asses the future costs as well. This is also the best time to research and investigate putting a long-term care insurance policy in place. The best time to shop for long-term care insurance is in your 50’s and early 60’s while you are still in optimal health, as your individual health profile will help determine your future premium rate. The healthier you are the more low risk you are considered to insurers and thus, the better premium rates they will assign to you. You are and any deteriorating health information will also be considered when electing your premium rate class. So do not wait any longer and plan for the future and possible unexpected now!
If you or someone you love is interested in Long Term Care or Long Term Care Insurance be sure to visit: LTC TREE for more information.