Tuesday, August 4, 2015

www.sperosfinancial.com Long-Term Care Tip of the Day!



Long-Term Care, Steep Costs Even When It's 'Free'
Whether clients choose unpaid care or rely on it out of necessity, it's important to understand the hefty costs of such care. 

RELYING ON FAMILY



The AARP report on valuing informal care found that around 73% of adults aged 40 to 65 expect their families to provide LTC when required. This is almost seven times more than those who expect to use a home health agency, nursing home or assisted living facility.  

"Most people don't think of long-term care," says Susan Reinhard, senior vice president and director of the AARP Public Policy Institute, and lead author of the "Valuing the Invaluable" report. "We all think that we will live and be very healthy; the wife knows that she is going to take care of her husband. It's not something they plan on."

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