Jones & Associates Long-Term Care

LONG-TERM CARE

None of us are getting younger. We need to plan for the future and provide ourselves with our Long–Term Care needs.

Long–Term Care costs average nearly $50,000 annually. When it comes to the prospect of Long-Term Care, too many people mistakenly believe, "it won’t happen to me." It is hard to imagine needing significant care in your golden years, yet it is projected that 43% of people who reach 65 will spend time in a nursing home. Many more will require care in their homes.

Every year many Americans lose their life savings and investments to pay for Long–Term Care medical bills.

Planning for change can help guarantee freedom, independence and a sense of security for yourself and your family.

Surprising Facts about Long – Term Care:

You can either plan for what you want, or settle for what you get. Americans needing Long –Term Care:

  1. Today, 1 in 10 Americans older than 65, and almost half of Americans age 85 and older, require assistance with their everyday activities.

  2. 40% of Americans receiving long – term care are under 65.

  3. By the year 2005, the number of Americans needing long – term care will increase to 9 million. By 2020, 12 million older Americans will need long – term care.

  4. American women face a 50% greater likelihood than men of entering a nursing home after age 65.

The costs of Long – Term Care:

  5. Two – thirds of all single people and one – half of all married couples are     impoverished after only one year in a nursing home.

  6. The average cost of in – home care is $20,000 a year. The cost of an assisted living facility, depending on the level of assistance provided, may cost up to $50,000 a year. And, one year of care in a nursing facility may cost anywhere from $40,000 to $80,000.

  7. Approximately 34% of long – term care costs are paid by individuals in the form of out – of – pocket costs.

Medicare only pays for 5% of long – term care costs. What’s the "real" cost of Caregiving?

   8. Nearly one - quarter of American households (22.4 million) are involved in caregiving to elderly relatives or friends.

   9. 81% of American families have already faced a long – term care crisis or expect to face one soon.

   10. 65% of family caregivers do not receive help from family or friends.

   11. Over 40% of family caregivers consider the loss of leisure time, feelings of isolation, and the change in family roles to be the most burdensome aspects of caregiving.

   12. 49% of family caregivers have suffered from prolonged depression because of their caregiving experience.Helping ease the burden:
A long – term care insurance policy can help you prepare financially for the possibility that, someday, your parents, your spouse or yourself, may need long – term care.

Sources:
1. ACLI, "65+ in the U.S.," Current Populations Reports, pg. 23 – 190, March 9, 1998. 2. "Gaining Market Insights from the Ohio Long – Term Care Insurance Survey," Robert C. Atchley, Ph.D., and Mark S. Dorman, Ph.D, Journal of the American Society of CLU and ChFC, September 1994. 3. and 4. HIAA, November 19, 1998 5. "Can’t Afford to Grow Old," Walter Cronkite, WNET, 1989. 6. The American Parkinson Disease Association, Inc., Summer 1998. 7. Marion Merrell Dow Managed Care Digest, Long – Term Care Edition, 1994. 8. National Alliance for Caregiving, Pension & Benefits Reporter, June 1, 1998. 9. Ronald Pollack, Executive Director of Families, USA. 10, 11, and 12. The Family Caregiver Alliance, April 24, 1997.

At Jones & Associates, we know how emotionally and physically draining Long–Term Care can be for individuals and families. We will be happy to discuss your situation and help you design a Long–Term Care plan to suit your needs.



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			LONG-TERM CARE None of us are getting younger. We need to plan for the future and provide ourselves with our Long–Term Care needs. Long–Term Care costs average nearly $50,000 annually. When it comes to the prospect of Long-Term Care, too many people mistakenly believe, "it won’t happen to me." It is hard to imagine needing significant care in your golden years, yet it is projected that 43% of people who reach 65 will spend time in a nursing home. Many more will require care in their homes. Every year many Americans lose their life savings and investments to pay for Long–Term Care medical bills. Planning for change can help guarantee freedom, independence and a sense of security for yourself and your family. Surprising Facts about Long – Term Care: You can either plan for what you want, or settle for what you get. Americans needing Long –Term Care: 1. Today, 1 in 10 Americans older than 65, and almost half of Americans age 85 and older, require assistance with their everyday activities. 2. 40% of Americans receiving long – term care are under 65. 3. By the year 2005, the number of Americans needing long – term care will increase to 9 million. By 2020, 12 million older Americans will need long – term care. 4. American women face a 50% greater likelihood than men of entering a nursing home after age 65. The costs of Long – Term Care: 5. Two – thirds of all single people and one – half of all married couples are impoverished after only one year in a nursing home. 6. The average cost of in – home care is $20,000 a year. The cost of an assisted living facility, depending on the level of assistance provided, may cost up to $50,000 a year. And, one year of care in a nursing facility may cost anywhere from $40,000 to $80,000. 7. Approximately 34% of long – term care costs are paid by individuals in the form of out – of – pocket costs. Medicare only pays for 5% of long – term care costs. What’s the "real" cost of Caregiving? 8. Nearly one - quarter of American households (22.4 million) are involved in caregiving to elderly relatives or friends. 9. 81% of American families have already faced a long – term care crisis or expect to face one soon. 10. 65% of family caregivers do not receive help from family or friends. 11. Over 40% of family caregivers consider the loss of leisure time, feelings of isolation, and the change in family roles to be the most burdensome aspects of caregiving. 12. 49% of family caregivers have suffered from prolonged depression because of their caregiving experience.Helping ease the burden: A long – term care insurance policy can help you prepare financially for the possibility that, someday, your parents, your spouse or yourself, may need long – term care. Sources: 1. ACLI, "65+ in the U.S.," Current Populations Reports, pg. 23 – 190, March 9, 1998. 2. "Gaining Market Insights from the Ohio Long – Term Care Insurance Survey," Robert C. Atchley, Ph.D., and Mark S. Dorman, Ph.D, Journal of the American Society of CLU and ChFC, September 1994. 3. and 4. HIAA, November 19, 1998 5. "Can’t Afford to Grow Old," Walter Cronkite, WNET, 1989. 6. The American Parkinson Disease Association, Inc., Summer 1998. 7. Marion Merrell Dow Managed Care Digest, Long – Term Care Edition, 1994. 8. National Alliance for Caregiving, Pension & Benefits Reporter, June 1, 1998. 9. Ronald Pollack, Executive Director of Families, USA. 10, 11, and 12. The Family Caregiver Alliance, April 24, 1997. At Jones & Associates, we know how emotionally and physically draining Long–Term Care can be for individuals and families. We will be happy to discuss your situation and help you design a Long–Term Care plan to suit your needs. Home \| Products \| Request a Quote \| Contact Us FAQ \| Career Opportunities \| Links 2436 Jacksonville Hwy, Medford, Oregon 97501 Tel: 541.770.9563, Toll Free: 800.773.2078, Fax: 541.773.9568 Site designed by Chris Molé Design