Baby Boomers and Long Term Care
Baby Boomers and Long Term Care
Baby Boomers and Long Term Care
A reliable health insurance has grown to be a main concern for everyone nowadays, most especially for baby boomers. Who are these people? The US Census Bureau classifies baby boomers as the individuals born from the last years of World War II approximately between the years of 1946 and 1965.
These people are believed to have lived throughout a period when the US kept a sustained economic growth which in effect created a very comfortable living environment for them. Thus, making them assume that long term care is something not worth paying attention to or it is something they mistakenly believed to have already acquired.
And today, these baby boomers rapidly draw near their retirement age which started to raise an issue particularly in the field of healthcare. Studies show that once the baby boom generation hit old age, they will mostly comprise a huge unbalanced portion of America's population. The sad news is they will be facing a quite costly health insurance which fluctuates as days pass by.
Jim Firman, president and CEO of the National Council on Aging since 1995, stated that a good remedy to the problem lies in the Community Living Assistance Service and Supports (CLASS ACT). CLASS Act is the government's newly-passed provision which establishes a federal insurance program for long term care. He adds that today is the perfect time for this latest health law to take effect to help lessen the burden behind acquiring long term care.
Under this provision, an employee can voluntarily enrol and be insured under a government-issued long term policy which is paid on a monthly premium through payroll deduction. Some believe on the provision's sustainability however not everyone agree. For the reason that most details behind this health provision remain undefined and though it is expected to enter the scene in 2011, people are still in doubt with its affectivity.
The demand for long-term care is expected to continue to grow in the coming decades as these baby boomers reach 80 and over. This does not only points to the habit of neglecting the importance of long term care but due to other supporting factors as well. And, one amongst top reasons is the decline in family size.
In addition, the increase in childlessness and rising divorce rate limit the number of caregivers. The growing rates of female employment also reduce the availability of family care, escalating the future need for paid home care as well. Once these baby boomers reach old age, the demand for health care services will surely be amplified.
Long term care plays a very significant role in terms of providing assistance once a person reaches old age and can no longer afford to perform the basic tasks of everyday life due to physical and mental disabilities. Unfortunately, only a few people have insurance to fight against high costs of long term care which is definitely becoming very challenging and threatening specifically for the baby boomer generation.
http://www.articlesbase.com/health-articles/baby-boomers-and-long-term-care-3581955.html
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