As people become older, their tend to become concerned about a few things such as remaining independent in their home, maintaining good health, and having enough money to meet their everyday needs as well as their health care needs. The fact is that they realise that they will eventually not be able to meet their daily physical, mental and emotional needs and will need help from others. Many elderly people are not able to afford long-term care when they need it due to a lack of proper planning.
The fact is that without proper health care planning over the long term , the need for long-term care can become one of the greatest crisis in the life of an elderly person. Needing long-term care but not being able to afford it can be very frustrating for an elderly person as well as his family who will need to sacrifice a lot to be able to make sure that their loved one is provided with the care that he needs.
If you do not want to be a burden to others during your old age, it is time for you to start planning for long-term care. Long-term care planning includes seven main steps. You need to understand the process of planning, understand the care settings, understand the different government long-term care programs, know who to contact for help, create income sources to fund the costs, use strategies to preserve your assets and create a long-term care plan. (more...)