Long Term Care Insurance
Long Term Care Insurance Information
Long-term care is all around us and invisible at the same time.
Millions of workers are dealing with the consequences everyday. Some may know an aging friend or family member in a nursing home. Others may be providing care for a spouse, parent or friend.
The typical caregiver is a 49 year old women spending 20 hours a week providing unpaid care and 42% of American workers have provided care to a loved one in the last 5 years.
The total cost to caregivers over their work career including lost wages, pension and Social Security is more than $300k. Long-term care puts everyone's life savings and quality of life at risk.So how can a problem like this be invisible?
Human nature makes it hard for people to consider the possibility of it happening to them. And business owners and executives are busy doing what they do to be successful. Lets face it, no one wants to think about needing long-term care.
What's Trending in LTC
One in Three Alzheimer's cases Preventable
Main risk factors are a lack of exercise, smoking, depression and poor education
Nursing home inventory shrinks as assisted living hit highest-ever growth rate
Improving economy and consumer preferences drive trend
Paying long-term care insurance premiums with an HSA
Kiplinger's points out the ability to pay LTCi premiums with pre-tax dollars using an HSA