Fewer long-term care insurance policies allow insureds to pay for home care directly, but being able to do this can stretch long-term care dollars.
Genworth identifies out-of-pocket savings from early long-term care planning.
Future caregivers, start your engines: Consider how you’ll handle long-term care while you and your parents are still young and healthy.
Grapple with planning for long-term care while you still have options.
My 102-year-old friend has been struggling with the prospect of losing her two long-time caregivers. One of them is retiring and moving home to Africa. The other is marrying and moving to the West Coast.
My friend’s children, who are themselves past the age of retirement, are urging her to be more flexible about her care arrangements and consider some combination of in-home help and adult day care. But as her doctor says, “People at this age can be inflexible and have a strong sense of entitlement.” So it’s not easy — nor is it cheap. If you were hoping to reach this age, keep that in mind.