More Women Need Long Term Care
Everybody is advised to prepare for his future healthcare needs but experts claim that long term care for women should be given more attention
. Women are more likely to neglect their future healthcare plans as they try to keep the lives of their loved ones normal and comfortable. In the end, they are the ones who suffer as they couldnt avail home care or nursing care since the cost of these services is too high.To avoid this cycle, you and tons of other women are advised to plan your long term care (LTC) needs while you are young and working; and while nobody in your family is in need of serious care yet.
According to statistics 75% of family caregivers are women, not necessarily full-time housewives and mothers. Many of them have cut down their working hours if not sacrificed their regular eight-to-five jobs so they can attend to the needs of their spouses, parents and parents-in-law who are in need of care.
Perhaps many of them are not aware of the consequences of what they did. Cutting down hours at work will result in smaller contributions to ones Social Security and retirement savings. With hardly anything left in their nest egg, women are bound to outlive their resources and there is no doubt that they wont be able to afford the cost of care which is projected to increase fourfold in 20 years.
Financial advisors say 90% of women will be responsible for their own finances in the future. Now whats one supposed to do if she has already exhausted her assets paying for the medications of her spouse and parents?
Getting a job or perhaps reclaiming the old one is not going to work. Even if she winds up with a job again, shell receive a very low monthly salary and her retirement benefits are going to be insufficient for her future needs, let alone LTC expenses.
Long Term Care for Women
Studies reveal that a familys women caregiver is at risk of heart diseases, hypertension, and depression.
Rendering more than eight hours of care for a loved one is dangerous to ones health and this explains why there are more women than men who end up with life-threatening illnesses.
Although men provide care for their loved ones, too, its mostly the women who would work round the clock to ensure that the needs of their disabled parents, spouses, and even parents-in-law are met. Whether these needs have to do with assistance in the activities of daily living (ADL) or with the administration of medications, wives and daughters can always be counted on.
However deserving of praise, if providing care to the people you love will put your health needs on the line that is not fair for you will suffer the financial consequences.
To be an effective caregiver to your loved ones, you have to be emotionally and financially secured first. Take time to inquire about the different plan options designed for long term care for women so that you can live the succeeding years in comfort and with peace of mind.
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