Long-Term Care - What Do You Really Know?
Do you really know how much senior elder care actually cost? 63% of those surveyed in a recent poll conducted by American Association of Retired Persons grossly under estimated the cost of nursing home care and its related cost.
Things such as which services are included in long-term care plans, who pays for what, insurance or the patient, and what services are covered by Medicare were a few of the questions the majority of those surveyed could not correctly answer.
The Costs of Long-Term-Care: Public Perceptions Versus Reality study was a real eye opener for those who reviewed it.
Americans believe they know about elder care.
However, according to the study, what people do not know will put them at a great disadvantage when planning for future long-term care contingencies.
With the aging of America exponentially multiplying and the increase need of many for elder care services approaching, now is the time for families to talk about options for financing long-term care before future elder-care contingencies arrive.
It is essential for families to realistically plan for their elder care future now so they can explore options which will provide them a greater chance of living the lifestyle they want in their later years.
1,456 people, ranging from age 45 and up took part in the Costs of Long-Term Care: Public Perceptions Versus Reality study.
60 percent of them confirmed they were familiar with long-term care services, its cost, and its benefits.
However, only 8 percent of the participants came close to estimating cost and benefit information correctly.
The surveyed group was astonished to find out the average estimated monthly cost for a long-term nursing home stay is over $6,000.
Many of the questions regarding services and cost responsibilities; such as who pays for nursing care and who pays for help with daily activities like bathing or dressing a patient were also answered incorrectly.
Nearly one third of those surveyed believing they had correct senior care coverage were surprised to discover they did not.
They were under the assumption disability insurance and Medicare coverage provided long-term care.
Although Medicare has no such provisions, over half of participants believed Medicare paid for assisted living and for long-term nursing home care.
Only 10% of the participants actually had a long-term care plan in place.
While reading the miscellaneous survey results included in this article, what percentage of the long-term care information were you correctly knowledgeable of? Want to take the long-term care survey test to see how knowledgeable you are? Go to the American Association of Retired Persons web site.
Your future may hinge on your correct knowledge of this area.
Things such as which services are included in long-term care plans, who pays for what, insurance or the patient, and what services are covered by Medicare were a few of the questions the majority of those surveyed could not correctly answer.
The Costs of Long-Term-Care: Public Perceptions Versus Reality study was a real eye opener for those who reviewed it.
Americans believe they know about elder care.
However, according to the study, what people do not know will put them at a great disadvantage when planning for future long-term care contingencies.
With the aging of America exponentially multiplying and the increase need of many for elder care services approaching, now is the time for families to talk about options for financing long-term care before future elder-care contingencies arrive.
It is essential for families to realistically plan for their elder care future now so they can explore options which will provide them a greater chance of living the lifestyle they want in their later years.
1,456 people, ranging from age 45 and up took part in the Costs of Long-Term Care: Public Perceptions Versus Reality study.
60 percent of them confirmed they were familiar with long-term care services, its cost, and its benefits.
However, only 8 percent of the participants came close to estimating cost and benefit information correctly.
The surveyed group was astonished to find out the average estimated monthly cost for a long-term nursing home stay is over $6,000.
Many of the questions regarding services and cost responsibilities; such as who pays for nursing care and who pays for help with daily activities like bathing or dressing a patient were also answered incorrectly.
Nearly one third of those surveyed believing they had correct senior care coverage were surprised to discover they did not.
They were under the assumption disability insurance and Medicare coverage provided long-term care.
Although Medicare has no such provisions, over half of participants believed Medicare paid for assisted living and for long-term nursing home care.
Only 10% of the participants actually had a long-term care plan in place.
While reading the miscellaneous survey results included in this article, what percentage of the long-term care information were you correctly knowledgeable of? Want to take the long-term care survey test to see how knowledgeable you are? Go to the American Association of Retired Persons web site.
Your future may hinge on your correct knowledge of this area.
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