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| "Who is at
risk for needing long-term care? Isn’t it just older
people? "
While there are a lot of older people that need long-term
care, it is important not to overlook that young people
can need long-term care too. It is never too early to plan
for your future long-term care needs. Some common reasons
that young people can need long-term care are: strokes,
Parkinson’s disease, cancer, multiple sclerosis, and
accidents to name just a few.
When Caring Isn't Enough
- American Academy of Actuaries, January 1999 Percent of
Working-Age Adults Needing LTC
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| Age
risk for Long Term Care
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Average Cost - 2002
| Region |
Semiprivate
High |
Semiprivate
Low |
Semiprivate
Average |
Private
High |
Private
Low |
Private
Average |
| Saint Louis, MO |
$120.00 |
$100.00 |
$109.75 |
$220.50 |
$105.00 |
$147.78 |
| Kansas City, MO |
$104.00 |
$70.00 |
$95.55 |
$206.00 |
$125.75 |
$147.35 |
Comparison of
other risk you already have insured.
Home Owners Insurance
1 of 88 homes burn
Automobile
1 of 70 cars are in accidents
Long Term Care
2 of 5 people use nursing homes
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Financial Costs
When you rely on family members to take care of you, it is important
to consider the financial costs they will incur. They may be more
than willing to take care of you, but may be unaware there will
probably be a financial loss to them. The financial loss to them
could be very high. If they currently work, they may need to work
fewer hours, or even give up their jobs altogether.
A 1999 MetLife Study reported “care giving costs an (individual)
an average of $656,000 in lost wages, pensions, and Social Security,
not to mention negative health impacts.”
Physical Costs
Providing long-term care is hard work. Family members report exhaustion
from the long hours of care giving. If you had a stroke and could
not bear your own weight it would be very difficult, if not impossible,
for a family member to lift you in and out of bed. Especially
if your caregiver is your spouse and you are both in your 80’s!
If you have Alzheimer’s and require 24-hour care, it can
be very exhausting for a family member to stay up all night and
during the day. Your family caregiver couldn’t do that for
too many days in a row!
Emotional Costs
The emotional toll caregivers experience is another cost your
loved ones pay in providing care to you. If you are relying on
a family member to take care of you, it is important to understand
the type of care you may be asking them to provide. You may be
thinking that the extent of the care is helping you in and out
of bed, assisting you with meal preparation, or driving you to
the doctor. But, what if you need more care than that? Will it
be possible for the friend or family member to handle more extensive
care?
Children can become clinically depressed while taking care of
their parents. Sixty-one (61%) of “intense” family
caregivers (those providing at least 21 hours of care a week)
have suffered from depression. Some studies have shown that caregiver
stress inhibits healing.
Source: National Family Caregivers Association, Long Term Care
(Care giving Across the Life Cycle) 1998
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