Long Term Care
California has the largest elderly population in the country with 3.3 million residents age 65 or older. Nearly one in four California households are involved in caregiving on some level. This huge financial and emotional burden is measured in out-of-pocket costs and lost work.
Today, family members provide 80% of all long-term care at home, according to “Welcome to California Facts”. Nearly one in four California households are involved in caregiving on some level. This huge financial and emotional burden is measured in out-of-pocket costs and lost work.
LTC can cost anywhere from $40,000 to $100,000 a year depending on where you live and the kind of services you need. Costs are expected to triple over the next 20 years. Medicare covers less than 10% of all LTC costs.
The majority of expenses are borne by the individual, their spouses, or family members. These costs can be crushing even for a middle-class family with a home and assets, LTC insurance covers the actual costs of care to protect hard-earned family assets, can preserve a person’s independence, and provide peace of mind to a family and loved ones.
More than half of all Americans will need long-term care. For a couple reaching age 65, there is a 75 % chance that one of them will need LTC.
Your probability of needing LTC is actually greater than your likelihood of going to a hospital, having a fire in your home, or being in an auto accident. Women are most likely to bear more of the caregiving burden since they often outlive their spouses.
Women too will probably need LTC services at the end of their lives.
Because most people are unaware of these probabilities, they incur the risk of being uninsured.
It’s my job to keep you informed and I can help you.
Confused About Long Term Care?
I’d like to clear up a few misconceptions about LONG TERM CARE! WHAT IT IS AND WHO PAYS FOR IT!
WHAT IS LONG-TERM CARE?
Long Term care is attention to the details of your well-being by another person when you are unable to perform normal activities of daily living. This impairment may be physical or mental.
We’re hearing more and more about facilities popping up to provide several levels of care, from independent living to total confinement and personal care. When shopping for an appropriate facility there are many issues that should be addressed. Here are a few. . . Does the facility appear more interested in touting the amenities than the needs of the residents? Give special attention to the demeanor of the residents as well as the attitude of the caregivers. Ask to see the sleeping quarters as well as the public areas.
When the time comes that you can no longer live independently, be sure you have done your homework ahead of time.
Not wanting to burden our children with this task, be sure you make your wishes known before the time comes when you are unable to make those important decisions for yourself.
As an insurance agent, I sometimes have the privilege of insuring employees of facilities and am often impressed with the compassion of the staff. I personally applaud them for their patience with the frail body and mind.
WHO PAYS FOR LONG-TERM CARE? WE DO!
Long Term Care is NOT funded by Medicare.
The purpose of Long Term Care Insurance is to protect your assets which can quickly be depleted should Long Term Care be required.
This is Billie Jo Cravello. I can help you, call me at (805) 928-7372