Why You Need a Long Term Care Plan
Disclosure: Information for this post is sourced from Genworth Financial in partnership with the SheHeard Influencer Network. All opinions expressed on this post are mine.
Have you considered buying long term care plan?
The need for long term care is something all of us should plan early if we want to have comfortable home or community based medical care in the future. This is a concern that people in their 50’s and 60’s think about a great deal, but one thing that we should all know is that considering a long term care option for yourself, a parent or another loved one, should be done early. It is never too soon to plan, not only will you find better policy options, you also get to save money. According to an article I read in NYTimes, “elder law specialists say consumers must set aside that emotion when buying a policy so that they are clear on what their policies do and do not cover.”
Here are some reason why you should get long term care plan now:
Do not rely on health insurance and Medicare alone, because they do not cover the cost of nursing homes, assisted-living facilities or in-home care.
Long-term care costs have been steadily rising and as demand for trained at-home caregivers raises, it is also expected to drive the prices higher.
It is sad to think but fact is your health status or that of a loved one can change over night. If you wait for an injury or illness, you might be forced to do a hasty decision that might not be best in the long run. You may be forced to pay more or either you can’t afford it or simply the coverage you want may no longer be an option because of the age or health of the person who will need care or coverage.
Do you want to enjoy your golden years? Then if you plan early, you can choose the right long term care facility. There are facilities that can offer your hobby or other social activities. You can also plan the living arrangement that you prefer.
According to Genworth Financial, it’s important to consider care options while a person is healthy because that’s when the best rates and options are available and families are in much better emotional shape to discuss long term care-related planning. So I suggest that you act now and do a research for the long term care plan that you or your loved one will need.
Topic: Long Term Care Plan
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