Long Term Care Guild

    Given the choice, you and I would like to age in the comfort of our own home. But the cost of hiring a professional caregiver has gotten too expensive for the average elderly middle class who only has his or her social security pension, at best, to draw out from. It is expensive partly because of the law of supply and demand. The workforce is small for the big number of elderly needing some form of hands on assistance. 20 hours or so per week of paid private-duty care may work for a little while, perhaps as a backup support for the working adult child. But at some point, care needs will increase, and more hours if not a 24/7 care, will need to be purchased. Quite a number of Americans think Medicare covers this type of non-medical care. It does not. The cost of your private caregiver or fancy assisted living community is your own. Without long-term care insurance, a sad option is a government-run nursing home care. If you need memory care, especially in a locked community, the cost skyrockets.

   Definitely, the public and the private sector need to collaborate in addressing the economic cost of aging. This is not even mentioning the lost income on the family member who might have to miss work when caring for the chronically ill parent at home. 

   We are all aware that a large population of America is aging, and not a large part of this population has long-term care insurance. Now that we have the Affordable Care Act in place, should there be an insurance program where long-term care insurance is made affordable as well? Medicaid, which covers long term care stay in nursing homes or in some cases, in-home care, is government coverage for low-income Americans. The middle class, which is the larger segment of the population, is left to take care of its own long term care need. More often, people do away with it because premiums are substantial if you get the coverage that realistically covers the cost of future care. 

   One thing is certain, old age will come upon us. We will certainly need to ring the bell for some form of care and physical assistance. And if we are not on the list of Forbes wealthiest people, aging will be costly in our pocket and to our adult children. So how do we afford getting old?



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that's a serious problem many of our seniors and their families face today.this is because most health care services , particularly nursing home care are on the stark. In fact the figures shown on long term care costs by state reveal only the incapacity of many American seniors to afford such expensive care.

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