Imagine Age 55 and Getting an Alzheimer’s Diagnosis - What to Do? How Can You Prepare?
Are you and your family prepared for the day when you discover a chronic health problem, mobility issue, or memory problem? Who will be your caregiver? How will you pay for care? What will the impact be on your family?
When you think of Alzheimer's or dementia, you think of an older person in their final months of life; however, this is not the case. Dementia Care Center says the most common form of dementia, Alzheimer's disease, has an average life expectancy after diagnosis of ten years, and other dementias have different life expectancies. Plus, dementia, while more likely to occur when you are older, can happen much younger than expected.
Can you imagine being 55 years old and finding out you have Alzheimer's? For this Arizona woman, this is exactly what happened to her and her family.
See and read the story from ABC-15 Arizona - Costs leading to potential long-term care crisis (abc15.com)
We Take Things for Granted - Until We Can't
Things we take for granted like dressing, cleaning, cooking, brushing our teeth, and showering require help and supervision. The impact is all-encompassing. Family members often become caregivers, and their lives are also turned upside down.
Professional care is expensive. In Arizona, the average statewide cost of in-home care is $4,433 a month; in Phoenix is averages $4,767 a month, according to the LTC NEWS Cost of Care Calculator - Arizona Long-Term Care Resources | LTC News.
Nursing homes, assisted living facilities, memory care facilities, and adult day care centers are also expensive, and the costs are increasing due to higher demand and higher labor costs.
Don't Depend on Health Insurance or Medicare
Health insurance is not the answer, nor is Medicare or supplements, as they will not pay for any custodial or supervisory long-term care. Medicaid will pay for these services, but you must have little or no income and assets to qualify.
The solution for many families is affordable Long-Term Care Insurance; however, you cannot purchase a policy unless you have fairly good health. Most experts suggest obtaining coverage in your 40s or 50s.
A qualified Long-Term Care Insurance specialist can help navigate obtains and pricing between the many companies offering insurance solutions - Work With a Specialist | LTC News.
If you or a loved one needs care now - or very soon - LTC NEWS can help - Finding Quality In-Home Care | LTC News. Seek help finding quality care - either at home or in a facility with LTC NEWS. We are working with a leading national home care provider, Amada Senior Care, who will help you process an LTC Insurance claim at no charge or obligation. They will help design a plan of care and find our quality caregivers or facilities - learn more here - Filing a Long-Term Care Insurance Claim | LTC News.
About the Author
An LTC News author focusing on long-term care and aging.
James Kelly
Contributor since August 21st, 2017
Editor's Note
Simple mobility problems or even light dementia can create dependency on your family - even if they are not providing the care themselves. When you own an affordable Long-Term Care Insurance policy, you have access to your choice of quality care services, including in-home care - but it doesn't stop there.
LTC Insurance safeguards your income and assets so you can maintain your lifestyle and preserve your legacy. But, perhaps as important as anything else, Long-Term Care Insurance gives your loved ones the time to be family, reducing the stress and anxiety otherwise placed on them.
The time to obtain coverage is before retirement, ideally in your 40s or 50s, when premiums are lower, and your health is better.
Available Resources on LTC NEWS
LTC NEWS offers several tools and resources to help 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 for the future costs and burdens of changing health and aging, LTC NEWS can put together several resources, including:
- The LTC NEWS Cost of Care Calculator will show you the financial impact of long-term health care where you live. It will also show you state-specific information on tax benefits, care options, rules, and more.
- 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 Advice
Experts suggest using a qualified Long-Term Care Insurance specialist to help you navigate the many options available to you and your family. Insurance rates are regulated, so no insurance agent, agency, or financial advisor can give you special deals. However, premiums do vary over 100% between insurance companies for the same coverage.
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 the peace of mind knowing they are making the appropriate recommendations - Work With a Specialist | LTC News.
Find Quality Caregivers and Long-Term Care Facilities
If your parent or loved one needs care now - or soon - you will need to find the appropriate care in the right setting depending on their needs.
Take a moment and read -
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 claim's process with your Long-Term Care Insurance policy. You can also support 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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Use LTC NEWS to drive traffic to your website and help you attract people interested in your products and services. Plus, you can improve your website's SEO so more consumers can find you when they search for your products and services.
There are various marketing options available with LTC NEWS. Traditional advertising, sponsored content articles, and strategic alliances, and more are available.
Learn more about how LTC NEWS can help you market your business, drive traffic, and improve SEO - Advertise With Us | LTC News.
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LTC NEWS is open to contributors to share their stories with the world.
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.
Improve your website or blog's SEO and gain exposure and traffic at the same time by being a contributor to LTC NEWS.
You can even promote yourself, your business, and your website or blog. However, it must have editorial content exclusive for LTC NEWS and cannot be just an advertisement. It can include links to other sites, and you can share the article link once published on your website or social media.
Email your story idea or article: newsroom@ltcnews.com - LTC News Contributors | LTC News
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Let's work together and help consumers who search for us on the web - Site Request | LTC News.
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