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Why is it Important to Plan Ahead for Long-Term Care?

By Jessica Deng

As we age, our healthcare needs increase and we may require long-term care. Your plan for long-term care is one of the most important decisions, you’ll make in your golden years. Long-term care is designed to cover assistance with activities of daily living or additional support if you develop a chronic illness. This type of care is not covered by traditional health insurance and can become a huge financial burden if you don’t plan ahead.

Long-term care planning is essential because it helps us ensure access to the care we need while protecting our finances and assets. Here we’ll share a few of the most important reasons as to why you should consider planning ahead:

Long-term care can be expensive

One of the main reasons to put a long-term care plan in place is to prepare for the possibility of high costs. Long-term care has costs associated with the services that are provided. It’s important to prepare as much as possible. The cost of care and your options for coverage vary depending on your state and the type of services you need.

You can choose where you want to receive care

Today, long-term care insurance policies provide coverage in the comfort of an individual’s home, in an adult day care, assisted living facility, nursing home, or even in hospice care.

Take control over your future

Long-term care planning gives us control over our future. When you plan, you can decide about the care you want to receive, where you want it, and who will provide it. This enables enough time to see if you qualify for certain financial programs to assist with long-term care costs.

Prepare for the unexpected

Long-term care planning allows us to prepare for the unexpected. The future is uncertain, especially regarding our health, but by being proactive and planning, we can try our best to prepare for whatever comes our way. This includes preparing for an unexpected chronic illness, being disabled, or needing long-term care due to a sudden accident or injury.

Help gain peace of mind

A long-term care insurance policy makes it easy for you to access the best type of care and it can help you give your family peace of mind and the ability to focus on your well-being.

LifeWorx Can Provide You With Long-Term Care

Long-term care planning may not be the easiest topic to discuss. However, it’s important to be proactive in planning for your future. When you fail to plan long-term care, there could be a possibility of having major financial and health-related consequences. Long-term care for the elderly can be complex to navigate, especially when it comes to insurance.

If you believe you or your loved one has questions about long-term care, we suggest reading our long-term care guide or stopping by one of our offices and meeting a care consultant who can help you review the best policy possible for your needs.

Explore LifeWorx’ in-home elder care services.