I may not be a baby-boomer, but I can definitely feel the wave of that generation casting its shadow on my future. With a topsy-turvy healthcare system in America and quite a mess for President-elect Barack Obama to clean up, the security of care in our golden years is called into question. If you happen to be a baby-boomer, you know what I’m talking about.
Now is the right time to consider your options. Long term care is for people with chronic illnesses or disabilities. Services include assisted living, home aides and daily living services. Too few people have invested in long-term care insurance, but more than a few will need it.
According to projections by the U.S. Census Bureau, more than 20 percent of the U.S. population will be made up of citizens age 65 or older by the year 2050. Furthermore, up to 70 percent of senior citizens will require long term care services at some point in their lives, according to the U.S Department of Health and Human Services.
That’s more than 60 million people.