It’s a fact: Americans don’t want to think about Long-Term Care.
According to an AARP poll by the Public Policy Institute, Americans fail to understand that employer, private health insurance and Medicare do not cover the extraordinarily high costs of Long-Term Care.
I mean, how much clearer can things get? We’re talking about nursing homes, hospice care, assisted living, home health care … almost none of this is covered and almost all of us will need some of it during our lifetimes.
So what’s going on here? Aren’t people listening? Apparently not, the Public Policy Institute poll found. When people 40 and older were asked how they were preparing for the reality of aging, two thirds said they’d done “little to no” planning for long-term care. Three in ten admitted they would “rather not think about getting older” at all. Some were hoping their families will step in and care for them.
Here’s the reality: You may be lucky enough to be part of a very close-knit family. That doesn’t mean they — or you — understand the full extent of what that care-giving will entail.
No surprise: Those who had already experienced providing care to an older family member – as I have – when questioned in the poll, were less apt to say they would rely on their families. Like me, they’d seen how difficult it can be to provide long-term care services without professional help.
Long-Term Care is no Do-It-Yourself proposition. Making sure you have the financial power to ensure that you and your family members can have the right kind of help at the right time is what Long-Term Care insurance planning is all about.
Want to know more? Click HERE for related articles about Long-Term Care Insurance.