Ongoing COVID-19 Symptoms May Bring Higher Risk of Disability in Years Ahead
The ongoing problem of COVID-19 remains front and center. However, long-term mass disability related to the remaining symptoms of the virus is creating a long-term care problem for people worldwide.
Most people in the world would probably agree they are sick and tired of COVID-19. It may be one of the few things all humans worldwide would agree on. The problems of the virus crisis may linger after it is no longer a 'pandemic.'
Canadian research shows that there are 200 different COVID-19 symptoms across ten organ systems. Some of these symptoms include cognitive impairment like brain fog. There are many physical functional problems, including the inability to perform daily living activities and work or care for other family members.
Other COVID-19 symptoms that linger over long periods of time include mood swings and loss of taste and smell. People have ongoing muscle weakness, stomach and intestinal problems, and joint pain.
Symptoms Lag Past Initial Infection
One in ten people infected with COVID-19 experience symptoms beyond 12 weeks. Some experts suggest these symptoms could last longer than a year, or some may never go away.
Some people with ongoing COVID-19 symptoms may require ongoing long-term health care services that would place additional strain on both facilities and in-home health agencies worldwide.
The United States, Canada, Australia, and other nations are experiencing staffing shortages in long-term care facilities. The cost of long-term health care services in the United States is rising rapidly due to increased demand for care services and higher labor costs.
Long-Term Health Care Costs Rising
The LTC NEWS Cost of Care Calculator expects cost increases to rise in the decades ahead but added pressure from the virus crisis could increase these costs even more.
Several groups are pushing the federal government to add additional funding for nursing homes. However, the passage of the infrastructure bill that would include long-term care is stalling in D.C.
Currently, in the U.S., Medicaid is the largest payer of long-term care services, but a care recipient must have little or no income or assets to qualify. Many families will either fund long-term care from personal income and savings, or families will become caregivers despite being untrained and unprepared for this burdensome role.
LTC Insurance Paying Record Benefits in U.S.
Private Long-Term Care Insurance is already paying a record amount of benefits. In 2021 alone, the major companies paid over $12.3 Billion in benefits from these policies. However, Long-Term Care Insurance must be obtained before a person's health declines as they are medically underwritten. Most people purchase coverage in their 50s.
While many people focus on the short-term impact of the virus crisis, the long-term implications may be with us for a long time.
About the Author
Washington Bureau
Contributor since April 22nd, 2021
Editor's Note
Aging happens whether the virus remains or goes away. As we get older, we experience a decline in our health, body, and mind, leading many people to need help with daily living activities or supervision due to memory loss.
Being prepared for these changes that happen due to an illness, accident, or the impact of aging is a vital part of retirement planning. Health insurance and Medicare (including supplements) will not pay for most of these costs.
Family caregivers find it hard to juggle their careers and family responsibilities with that of a caregiver for an older parent. The burden is something most people have said in surveys that they don't want to place on their family.
The solution is affordable Long-Term Care Insurance. LTC Insurance provides guaranteed tax-free benefits to access your choice of quality care options, including care at home. You will be able to protect income and assets and reduce the stress and anxiety otherwise placed on loved ones.
Planning Tools and Resources on LTC NEWS
You can find many tools and resources on LTC NEWS to assist you in your research for a planning solution or help your family find the appropriate care for a loved one at the time of crisis.
To help you plan the costs and burdens of changing health and aging, LTC NEWS has put in place several resources, including:
- The LTC NEWS Cost of Care Calculator will show you the current and future cost of long-term health care services where you live. Plus, each state has vital state-specific information you should know - Cost of Care Calculator - Choose Your State | LTC News
- The Ultimate Long-Term Care Guide is an outstanding read to help you get a good overview of the topic area.
- Compare the major insurance companies that offer Long-Term Care Insurance products here - Top Insurers for Long-Term Care Insurance | LTC News.
- A detailed tax guide that includes available tax incentives can be found by reviewing the Long-Term Care Tax Benefits Guide.
Find all the resources on LTC NEWS - Resources for Long-Term Care Planning | LTC News.
Seek Professional Guidance
Insurance rates are regulated, so no insurance agent, agency, or financial advisor can give you special deals. However, premiums vary over 100% between insurance companies for the same coverage.
Experts suggest using a qualified Long-Term Care Insurance specialist to help you navigate the many options available to you and your family.
A specialist who works with the top companies can match your age, health, family history, and other factors and find you the best coverage at the best value. A specialist will save you money, and you will have peace of mind knowing they are making the appropriate recommendations - Work With a Specialist | LTC News.
Get Expert Help Filing an LTC Insurance Claim
LTC NEWS provides free assistance with no obligation to help you or a loved one complete the claims process with your Long-Term Care Insurance policy.
You can also get support in finding quality caregivers and get recommendations for a proper care plan, whether a person has a policy or not. - Filing a Long-Term Care Insurance Claim | LTC News.
Benefits of Reverse Mortgages
Today's reverse mortgages for those aged 62 and older could be an ideal resource to fund a Long-Term Care Insurance policy OR even provide money to pay for care if you, or a loved one, already needs help and assistance.
Some people have much of their savings invested in their homes. With today's reverse mortgages, you can find ways to fund care solutions, care itself, even help with cash flow during your retirement.
Learn more by asking questions to an expert. LTC NEWS columnist and host of the TV Show "62 Who Knew" will answer your questions regarding caregiving, aging, health, retirement planning, long-term care, and reverse mortgages.
- Just "Ask Mike." - Reverse Mortgages | LTC News.
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You can write a story or ongoing column for LTC NEWS. You can write about many topics, including aging, caregiving, health, lifestyle, retirement planning, and long-term care, to name a few.
Be sure to write for our core target audience of adults aged 40 and older. Our audience is worldwide; however, our primary target is the United States, Canada, the United Kingdom, and other English-speaking nations.
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