We have heard the problems long-term care facilities had the face due to the virus crisis. COVID-19 has placed tremendous challenges for both residents and staff. However, most long-term care is not delivered in nursing homes. Family members and professional caregivers provide much of the extended care in the home.
The Centers for Disease Control and Prevention (CDC) tell us unpaid caregivers are the backbone of long-term health care. These family members and friends face many challenges in their role as a caregiver. The CDC says these challenges concern depression, stress, and lifestyle concerns.
Caregivers Confront Challenges
Paid caregivers also face many of these same challenges. The bottom-line is caregivers are at an increased risk for adverse health consequences.
The CDC reports the following health issues that caregivers face:
- Higher levels of depression and anxiety
- Higher use of psychoactive medications
- Worse self-reported physical health
- Compromised immune function
- Increased risk of early death
According to the CDC, 53% of caregivers reveal a decline in their health. This reduced level of health compromises their ability to provide care. But there is more than just health issues these caregivers face.
Caregivers also experience economic hardships. The hardships are due to lost wages and additional medical expenses.
COVID-19 Adds Problems for Everyone
The physical, emotional, and financial issues friends and family members face when caring for a person in a long-term care situation can become more complicated due to COVID-19.
COVID-19 brings another dynamic to a caregiving situation. Yes, both caregivers and the person they are caring for should be concerned about infection. However, the caregiver faces additional stress about their concern about bringing the virus back home to their family.
However, that’s only part of it. According to Medical News Today, families face additional stress and anxiety as the ability of family members to visit their loved ones, even in their own homes, is restricted. Families face isolation, which is not good for anyone’s well-being.
Cost of Long-Term Care is Expensive – Planning is Key
The financial costs and burdens of aging will face most of our families at some point. Caregiving, even on a good day, is difficult and stressful. The cost of paid care is expensive. The LTC NEWS Cost of Care Calculator shows the national average of home care runs $53,402 (based on a 44-hour week).
While it is less than a skilled nursing home that now averages $106,488, the cost of care can adversely impact income, assets, lifestyle, and legacy. Plus, the emotional and physical impact on family members, while often overlooked, places a large amount of burden on your loved ones.
Affordable Long-Term Care Insurance provides you with the guaranteed tax-free resources you need to heave access to your choice of care in the setting you desire. It also gives your loved ones the gift of time. They will have time to be family.
A policy will not solve every problem, but it will make a catastrophic situation manageable. Since Long-Term Care Insurance is affordable, getting a policy in place will empower you and your family. There are plenty of things in life to worry about. Knowing you have long-term care planned for will keep you in control.
Start planning before retirement, ideally in your 40s or 50s, when you still may qualify for preferred health rates. Seek the advice of a trusted and experienced Long-Term Care specialist. Find one by clicking here.
About the Author
Linda is a former journalist who now enjoys writing about topics she is interested in so she “can keep her mind active and engaged”.
Contributor since December 11th, 2017
You can use the resources available on LTC NEWS to help you find the best coverage at the lowest cost. You may have read or heard that Long-Term Care Insurance is expensive. The fact is, for most people, policies are very affordable.
Understand that premiums vary a lot between insurance companies. For the same benefits, the premiums can vary over 100%. Plus, Long-Term Care Insurance is custom designed. Many insurance agents and financial advisors lack an understanding of how to design a policy. Nor do they fully comprehend the underwriting differences that exist between insurance companies.
Be sure to seek the help of an LTC Insurance specialist. Ask them many questions, including:
Ask Specialist Questions
- How many insurance companies do you represent?
- Do you have a full understanding of the Long-Term Care Insurance Partnership Program?
- How many people have you helped with Long-Term Care Insurance?
- Do you offer both traditional, hybrid, and short-term policies?
- How many claims have you processed?
The specialist should be asking you many detailed questions about your health, family history, finances, and retirement plans.
Don't delay. You must health qualify to obtain coverage.
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