Women: The Essence Of Planning For The Future
Women should take long term care more seriously
. They are the ones who are more focused on other people rather than themselves. These women are busy doing stuff like raising their sons and daughters and preparing meals for the family. For those arent married, they are busy taking care of aging parents and trying to meet their needs or dedicating their entire lives and attention on career development. These and many other things can and will take away the time women have for themselves.
It is normal for a woman in her early to late 20s to be more focused on their career or friends. However it is necessary to understand that once they reach 30-50 years old, they need to divert their attention on things that may affect their lives once they become frail and impaired. These years should a woman begin to think of her future as she grows older. For a much dependable future ahead, it is good to plan for long-term care insurance prior to having serious physical and mental impairment.
There are few convincing reasons why it is essential to plan for long term care for women. One of which is the fact that her life is still more valuable than any other lives she is currently focused on. Whether it is of her family, friends or other loved ones, she cant just depend on these people once she gets older and becomes in need of caring services. That is why its important to think of long-term care as the saving grace for the elders. Some of the services that may be involved in a good long term care are house renovations that will make things much easier, new technology to keep her independent and updated both at the same time, transportation aid, shopping or personal needs, medical care needs with the help of a care giver or a physical therapist. The sad reality is that women, even those who are near the age of retirement, still dont know the costs that entail for their care and the things that should be covered in their LTC policies.
1.You're likely to live longer. Women outlive men by five years, and two-thirds of Americans over 85 are women. According to Georgetown University's Health Policy Institute, 65-year-old women today can expect to live about 20 more years and the majority of them will need at least some help living independently.
2.Long-term care is expensive. In 2010, the average costs for assisted living was more than $38,000 a year, according to the annual Genworth Cost of Care Survey. The annual cost of a private room in a nursing home was nearly $75,000, and home health aides averaged $19 per hour. The federal government's Long-Term Care Savings Calculator can help you figure out figure out the long term care costs by state
3.Most likely, you'll be paying out-of-pocket. A lot of people mistakenly believe that Medicare and private health insurance will cover all the costs of care as they age. Americans pay for most long-term care themselves until they run low enough on funds to qualify for Medicaid. But Medicaid often means fewer choices especially in these budget-crunching times. Although the tide is shifting, in most states, the majority of Medicaid funds for long-term care go toward institutional care. But most of us much prefer to stay in our own homes or communities.
by: Jessica Martinez
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