Unlike the not-so-distant past, modern seniors no longer live with their extended families. Children can’t afford to take care of their aging parents anymore, and their ill-health can become a financial liability. Today we have what’s known as Long-Term Care for senior citizens, or persons with a disability, physical illness, or mental impairment. Examples include nursing homes, home health care agencies, retirement communities, assisted living facilities, and adult daycare centers. Primary healthcare policies will not fully cover these services, and that’s where Long-Term Care Insurance comes into play. Having it when you need it will feel like a blessing for both you and your family.
This morning at work we had a presentation on health care plan options. With rate increases, our company is making us switch plans or pay out-of-pocket for the deductible on the existing plans. One of the options we are looking at is a high-deductible plan in combination with an HSA (Health Savings Account). |