Sandwich Generation Worried About Own Long-Term Care
Hootie’s Take: Evidence that caregivers are prime candidates for Long-Term Care insurance having experienced the amount of time, effort and money it requires to care for a loved one.
WASHINGTON (AP) — Caught between kids and aging parents, the sandwich generation worries more than most Americans their age about how they’ll afford their own care as they grow older, a new poll shows. But most aren’t doing much to get ready.
Nearly 1 in 10 people age 40 and over are “sandwiched” – they’re supporting a child while providing regular care for an older loved one, according to the poll by The Associated Press-NORC Center for Public Affairs Research.
Another 8 percent may join the ranks of double-caregivers in the next five years, citing declining health of an older relative or close friend.
Dueling responsibilities can make some days feel like a tug-of-war.
Recent News
A Social Experiment | What Are The Chances?
The potential need for long term care is a topic most people would rather avoid. But not talking about it doesn’t make the issue go away. It only delays planning and leads to potential confusion and financial impact for not just those who may need care, but their family and friends. The reality is that … Continue reading "A Social Experiment | What Are The Chances?"
November Is Long-Term Care Awareness Month!
Have you planned ahead to secure your financial future? In today’s world, home is more important than ever. It’s the one place we all feel safe and secure. November is National Long-Term Care Awareness Month, an event recognized by Congress and a number of states, designated to educate Americans on the growing need for long-term … Continue reading "November Is Long-Term Care Awareness Month!"
Another Inflation Stress: Rising Costs of Senior-Living Homes Strain Families
Inflation is fueling cost increases at nursing homes and assisted-living and independent-living facilities, which is tough for seniors on fixed incomes Eldercare facilities are raising prices and adding new fees, straining older Americans and their families who step in to help. Dan Gallo recently received a letter saying a new inflation-related daily fee of $25 … Continue reading "Another Inflation Stress: Rising Costs of Senior-Living Homes Strain Families"
Updated: NAIC Shopper’s Guide to Long-Term Care
The National Association of Insurance Commissioners (NAIC) has updated their consumer publication, A Shopper’s Guide to Long-Term Care Insurance. The NAIC wrote this Shopper’s Guide to help you understand long-term care and the insurance options that can help you pay for long-term care services. The decision to buy long-term care insurance is very important. You … Continue reading "Updated: NAIC Shopper’s Guide to Long-Term Care"