According to Health and Human Services, 70% of seniors will need some form of home care in their lifetime. That is nearly three out of four of us.
Many seniors are under the impression that their traditional health care programs will also provide the desired services in the home such as meal preparation, grocery shopping, assistance with hygiene, dressing, grooming, 24-hour care, etc. Medicare, Medigap and most Medicare Advantage Plans are designed to cover hospital stays, doctor bills and some short term skilled nursing. Unfortunately, they do not cover the cost of everyday assistance in your own home.
Long Term Care insurance is an option for such services, however this type of coverage is usually secured by individuals between the ages of 45 and 64 who are in better than average health. While your loved ones will have the best intentions to be there for you when an unexpected crisis arises, most are not prepared for the time, energy and amount of work involved in care giving and quickly become overwhelmed.