One of the social problems that America is facing today, is the crisis on aging. According to a recent study, by the year 2030, the number of people aged 65 and above will increase by 8 – 16%. With this said, we are left with a massive threat on our health and retirement system. Purchasing long term care insurance is a big challenge to our finances, however, it would still be a leverage if we consider inflation rate, and we still would benefit from it compared to paying out of pocket. It is a matter of planning carefully how to pay for the cost of long term care insurance. Here’s how to manage long term care cost and the factors that would affect them: http://www.infolongtermcare.org/long-term-care-insurance-costs/.
At some point, you may consider this tips and information especially if you are already contemplating on getting one.
For many, it’s just another birthday. But taken as a whole, the pace of those birthdays is a stark reminder of how quickly the U.S. is aging — and how unprepared the nation may be.
Consider the following:
When the last of the boomers turns 65 in 2030, about 1 in 5 Americans will be 65 and older.
The number of people in the U.S. with chronic conditions will have increased by 37 percent between 2000 and 2030.
Most Americans over 65 will need about three years of long-term care.
Nursing home care runs roughly $72,000 per year, on average. Add it up and many Americans could be facing bills of $216,000 or more. And contrary to popular belief, it’s…
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