Life is stressful. When adults must become caregivers for an older parent, the job of being a caregiver puts a physical and emotional toll on both the caregiver and the caregiver's family.
According to the American Psychological Association, nearly 1 in 4 American adults are drinking more because of COVID-19 related stress. Typically, more women than men become caregivers, and studies have found that women, more than men, have increased their drinking to excess.
Caregiving Leads to Caregiver Health Issues
The stress and pressure of being a caregiver bring many health problems. These health issues include high blood pressure, liver disease, and alcohol and drug dependency. Many studies over the years have linked caregiver stress and increased alcohol use.
If you or a loved one is currently providing in-home care for an older parent or family member paying attention to increased alcohol use is essential. Are you or your loved one stressed out physically and mentally because of their role of being a long-term care caregiver? What is too much if they are drinking?
The AARP reviewed the problem, which is a growing issue nationwide. Read more by clicking here.
Growing Aging Problem
The problem of aging and long-term care is not going away. The best way to address the future need for long-term health care and its impact on family and finances is to plan well before you get old and experience changing health and cognitive decline.
Many American families have purchased Long-Term Care Insurance. These affordable insurance policies offer guaranteed tax-free benefits that will pay for your choice of quality care either at home or in a facility.
LTC Insurance will not only safeguard income and assets from the costs of long-term health care. It will give your loved ones the time to be family and reduce their stress and burden.
You can take proactive action now, before retirement, to protect assets and ease family stress. Many experts suggest obtaining coverage in your 40s or 50s when you will still have reasonably good health and premiums are at their lowest.
Long-Term Care Costs Increasing Due to Higher Demand
According to the LTC NEWS Cost of Care Calculator, the cost of long-term care services is getting more expensive every year, with costs varying depending on where you live.
Several types of plans are available, so be sure to seek the advice of a qualified and experienced Long-Term Care Insurance specialist. A general insurance agent or financial advisor will not typically work with all the major companies or even be certified in the state partnership programs 45 states participate in.
The action you take now will benefit you and your family in the decades ahead.
A complete retirement plan should include a strategy for longevity and the impact that long-term health care will have on you, your family, income, savings, lifestyle, and legacy. This includes the consequences due to dementia. Affordable Long-Term Care Insurance gives you access to your choice of quality care either at home or in a facility.
Remember, Long-Term Care Insurance will pay for long-term custodial care, the most common type of care we will need. Health insurance, including Medicareand MedicareSupplements, will only pay for a small portion of skilled care. Medicaid will only pay if you have little or no savings and income.
You Must Health Qualify to Obtain Coverage
The underwriting criteria are different with each company. You will have to answer some health questions even to obtain accurate quotes. You ideally want to get coverage when you enjoy good health. If you are already receiving care in your home or if you live in a care facility, you would be ineligible for coverage.
Seek Help of a Qualified LTC Specialist
A Long-Term Care specialist can help you determine your eligibility based on your health history and other factors. Most financial planners and general insurance agents are not knowledgeable about underwriting, features, benefits, federal/state partnership programs, policy design, and claims.
Find a qualified specialist by clicking here.
LTC NEWS Cost of Care Calculator
Your research should include finding the current and future cost of long-term care services in the area you live – or plan on living in the future. Use the LTC NEWS cost of care calculator by clicking here.
Advertising and Marketing Opportunities on LTC NEWS
Get exposure, gain traffic to your website, improve your SEO, and enhance your business with LTC NEWS. Reach an educated audience. Readers of LTC NEWS are researching retirement issues, including aging, health, caregiving, and long-term care. Other readers seek information for a parent or other loved one who is experiencing declining health or aging issues and require extended care.