Long-Term Care Insurance: Eldercare Solution

Then suddenly I had a fulltime caregiver for my elderly parents, both with health problems and starting to dementia (namely Alzheimer's), I had never even heard of Long-Term Care Insurance develop. After we burned through their savings, and then started chipping away at me, I was, health care , advised to apply for financial assistance, health care , for them through government Medicaid system - a program for those at the poverty line. It was a long process with mountains of paperwork and numerous investigations, but finally my parents approved.I was so happy that the monetary help would finally be on the road, until I discovered that, health care ,, health care , the financial assistance would only pay for my parents put a nursing home, even in, health care , Assisted Living, and with very little assistance to keep their own home.Since their level of care were so different (my mother needed most things done for her), there were no facilities that would enable them draw together. They were opposite each other in different wings of the house. Fifty-five years after the marriage, my parents were adamant about to combine in their own home, in their own bed, where they can continue to hug and kiss - as they so often did. And because my father was so "difficult" with a terrible temper and a rather long history of manipulative disruptive behaviors, the homes do not want to deal with him anyway.It was a challenge, but I am committed to keeping my parents in their own home and attending Adult, health care , Day Health Care five days a week. Then, with, health care , the help of two wonderful caregivers, after four years of loving each other - they pass, just a few months apart. While taking care of every aspect of the last years of my parents was the, health care , hardest thing I ever did - I am proud to say that I gave, health care , them the best end-of-life I might could.Had I only known to insist that we buy Long-Term Care Insurance for them prior to their illnesses - their years in home care could be paid, and I could have saved myself so much grief, not to mention a small fortune. I encourage you to learn from my mistake and look into LTC insurance long before you itfor yourself and your loved ones. Just like fire insurance, hopefully,, health care , you'll never it.Also, use call your local Area Agency on Aging, or Department of Aging, and whether there are financial programs, subsidies and exemptions available in your area that you can apply for.STARTLING STATISTICSAn estimated at around 4.5 until 5 million Americans have Alzheimer's, health care , disease. In, health care , a Gallup poll, 1 in 10 Americans said that they have a relative with Alzheimer's, and 1 in 3 knew someone with the disease.Increasing age is the biggest risk factor for Alzheimer's disease. One in 10 persons over 65 years and nearly half, health care , over 85 are affected. Rare, inherited forms, health care , of Alzheimer's can even strike individuals in their 30's and 40's. A person with Alzheimer's disease will live an average of eight years and as much as 20 years, health care , or more from the very beginning of symptoms.More than 7 in 10 people with Alzheimer's, health care , disease live at home, where family and friends provide 80 percent of their care. The estimated value of this informal care is 257 billion U.S. dollars annually.One half the U.S. population has a chronic condition. More than one quarter (26.6%) of the adult population provide care for a chronically ill, disabled or elderly relative or a friend, which translates to over 50 million people.37% of carers living, health care , in the same household as the person they care for. 54% between 35 and 64 years old. 59% of the adult population either is, health care , or expects to be a family, health care , caregiver, and 2 million more caregivers will be needed in the next twenty years.An estimated 43% of Americans older than 65 years will spend time in a nursing home. In 2012 75% of Americans over the age of 65 years requires, health care , long-term care. Long-term care costs rise from 6% annually.The annual cost of Alzheimer care in the U.S. at least 100 billion U.S. dollars, and will increase to at least 375 billion U.S. dollars by mid-century, overwhelming our health care system and Medicare and ruin Medicaid disease. Alzheimer, health care , , health care , costs American businesses 61 billion U.S. dollars per year, equivalent to the net profits of the top 10 Fortune 500 companies. 24.6 billion U.S. dollars covers Alzheimer health care, and 36.5 billion U.S. dollars will cover costs related to caregivers of people with Alzheimer's, including lost productivity,, health care , absenteeism, health care , and worker replacement.THREE WAYS TO PAY FOR LONG TERM CARE1 . Pay for in-home caregivers and assisted living / nursing homes out of pocket. This is expensive and can often deplete a family's life savings.2. Discover