National Long-Term Care Awareness Month is an annual designation observed in November. Did you know that 70% of men and women over the age of 65 will need some kind of long-term care services? This kind of care can be very expensive, and can take a toll on the family as a whole as they try to figure out payment, roles of family members, and other logistics of making long-term decisions for a loved one. When taking care of someone long term, it usually means feeding them, helping with personal care, bathing them, and helping with other daily tasks. Let’s come together to recognize National Long-Term Care Awareness Month, and show support to those giving and receiving long-term care. Here’s a list of statistics surrounding long-term care in the United States.
- 78% of adults who are getting long-term care at home rely solely on family and friends for their assistance
- The average caregiver is a woman around 46 years of age
- On average, the caregiver spends about 21 hours per week assisting their patient or family member
- Over 90% of family caregivers had to alter their work schedule permanently due to caring for their loved one
- Around 40% of caregivers have had to switch from working full-time, to part-time.
- Close to half said they had to skip vacation and other personal activities in order to take adequate care of their loved one
- 29% had to use their own money in providing care
- More than 10% had to move in order to be closer to their family member in need of care
- Around 10% had to take a pay cut at their full-time job
This is why you should get Long Term Care Insurance. LTC will provide coverage for home aides and therapy, nursing home care, or assisted living. Once you are eligible for LTC benefits, you no longer pay premiums. The earlier you enroll in a long-term care plan the lower the premiums are. In recent years, an array of innovative LTC plan types have been introduced to the market, offering you options that are more affordable and ensure that your premiums do not go to waste if you remain independent through ripe old age.
Cosmo offers a variety of options. We can guide you during the process of choosing a long term care plan.
Did you know that when you combine long term care and life insurance you can save HUNDREDS of dollars? Contact Cosmo today to learn more about long term care insurance and what plans we offer.
Cosmo Insurance Agency is an independent insurance agency serving surrounding communities in New Jersey. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating the latest in technology-based tools and laws on healthcare, employee benefits, life insurance and finance, we keep our clients up-to-date with the plans that encompass all of their needs, whether it is individual or group insurance.
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