Long-term care policy provides for daily assistance in old age
Retirement News : Seniors : Long-term care policy provides for daily assistance in old age
Date Added: 31-10-2005
Planning for long-term care is a reality. Cost are high for these services and seniors need to be in a position to meet these financial truths. Read the excerpt below.
Alameda Times-Star - Alameda,CA,USA
By Barbara Grady, BUSINESS WRITER
WHO WANTS to think about a future day when bathing and eating become such difficult tasks that we need assistance? Nor do we want to imagine our parents in that situation.
But some advisers to senior citizens suggest planning for that possibility — not only how that care will be administered but how to pay for it.
For some older seniors, nearby children can be counted on for that assistance. For others, a younger spouse. But in this day of geographically far-flung families with most adults working outside the home, planning on the family providing care isn't always realistic.
Federal statistics indicate that about half of all people who grow into old age, or live beyond age 65, will need paid-for, long-term care assistance at some time in their lives. They might hire a home health aide assistant to come to the house — or they may move into a nursing home or an assisted living facility.
Any of these costs money.
Read the entire article.
http://www.insidebayarea.com/businessnews/ci_3159987
