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MCC Daily Tribune

Long-Term Care Planning Month

Long-Term Care Planning Month takes place in October. The month creates awareness among senior citizens and their caretakers to understand and prepare for the outrageous costs of healthcare for adults. Unfortunately, this is not something that people plan for, and many are unaware that most insurance plans do not cover long-term non-medical care and assistance for senior citizens and their daily activities.

HOW TO OBSERVE LONG TERM CARE PLANNING MONTH

  1. Visit with family and make a plan

    If you don’t have a long-term care plan, you are not alone. But now is a great time to start. Gather your family and discuss everyone’s needs, then select a savings plan that’s best suited to your family.

  2. Explore options and discover what is available to you

    Discover the long-term care plans available. Take advice from experts, see which plans align with your family’s needs, and start as soon as possible.

  3. Use the #LongTermCarePlanningMonth hashtag

    If you didn’t know about this, chances are many others don’t either. Share your knowledge about Long-Term Care Planning Month on social media and let others know that they need to act now.

5 FACTS ABOUT LONG-TERM CARE PLANNING YOU SHOULD KNOW

  1. You are likely to need it

    An estimated 8.3 million people living in the U.S. require some form of long-term care.

  2. Medicare or Medicaid are not enough

    They’ve limited periods for covering hospice care, home health services, or stays at nursing facilities.

  3. An increased demand

    Aging baby boomers will impact long-term care services in the next two decades.

  4. The younger you start, the better

    Long-term care insurance will greatly ease the financial burden on you and your family.

  5. You may need to liquidate your assets

    Generally, to be eligible for Medicaid, an individual needs to have only $2,000 in countable assets.

WHY LONG TERM CARE PLANNING MONTH IS IMPORTANT

  1. It gives us a head start

    Long-Term Care Planning Month provides a head start to plan for the upcoming caretaking costs in the future. It is important to be prepared, otherwise, the financial costs will be extremely difficult to maintain.

  2. It ensures better care for seniors

    Investing in long-term care insurance plans is not only better for financial stability, but also ensures that senior citizens get the care and due diligence that they need.

  3. The month creates awareness

    Long-Term Care Planning Month creates awareness among adults and senior citizens, and encourages them to look into long-term care plans. There are many packages available, and the month-long observance serves as a way to inform and educate people about this.

Sarah Benedict
MCC Wellness Council
10/19/2022