October 1st, 2016
People 65 and older will make up nearly 22 percent of the population by the year 2040. Which means that more and more of us are just now beginning to ponder the prospect of long-term care options – and not only for a parent or another loved one, but ourselves.
Like with many things in life, planning ahead for long-term care needs can pay off, especially when we’re reminded that an injury or illness could force us into making a spur-of-the-moment decision. The key to making a smart decision regarding long-term care is making sure you know the types of care available, and comparing facilities before choosing one that’s right for you.
A whole range of options are out there when it comes to long-term care – from Home Care and Day Programs, to Senior Housing, Assisted Living and Continuing-care Retirement Communities – but since long-term care can be expensive, and typically an out-of-pocket expense, it’s imperative that you thoroughly discuss payment plans and long-term care insurance options with your loved ones well in advance of the need for an assisted living situation.