The demand for in home care support has been growing. As the Baby Boomer generation retires, there are more and more seniors preferring to remain at home as opposed to other options, including assisted living and nursing home care. However, when combined with all of those other care options, demand across the board continues to increase.
Because of this, as with most basic economic models, when demand increases, so will cost. That means it will become more difficult for a lot of Americans to pay for these types of services on their own. Many of them will deplete all of their savings and assets and then turn to Medicaid and Medicare services as their primary solution. Unfortunately, with constant cuts from Medicaid for home care and other services, they may be limited on just how often they can receive this type of care or the quality of care they receive.
This is why long-term care insurance is so important.
Make no mistake about it, as more people live longer, the demand for these types of long-term care will increase. The trend has been continuing for the past several decades and is expected to increase in even greater numbers because of the Baby Boomer generation.
Many people see the long-term care insurance as unnecessary.
The same can be said about health insurance, life insurance, and other types of policies. In reality, though, for those who have been saving, being diligent in their efforts to protect their financial assets, and who plan for the future, it isn’t viewed often as an expense but rather an investment in protecting those other assets.
It’s important to look at all provisions long-term care insurance offers before deciding.
Some people view long-term care insurance as being unnecessary when they’re in their 30’s or 40’s, but even in those types of situations an unforeseen medical emergency or accident could leave somebody disabled or having to face an extended recovery time. If they are going to be hospitalized for months and then work with a physical therapist for many months afterward just to regain mobility, that would fall into the purview of long-term care.
The cost of that is often not covered -at least not completely- by basic health insurance. That’s why long-term care insurance is an incredible asset.
As the demand for these services increases, as the cost increases, the reality is simple: more Americans will face the challenge of affording home care or other types of long-term care without government assistance to pay for it.
If you or a loved-one are considering Long-Term Care Insurance Del Mar CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.
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