Essay Writing Help on Long Term Care Insurance

Long Term Care Insurance

We are faced with a rapidly aging population whereby in the U.S alone, 20% of its current population is expected to be over 65years in the year 2020 (Kinsella, Velkoff, & United States, 2001). This rate is alarming and there is need for the society to be ‘age-prepared’ i.e. offer community support to aging persons since the capacity to have independent living declines with age. With this issue at hand, we must ensure welfare of older adults is taken care of i.e. they are taken care of by and contribute to their community.

Aging calls for the need to seek for long term care that will enable older people to do daily activities such as bathing, eating, and dressing, and other everyday tasks such as managing finances, using communications devices, and taking medication. Factors such as health statuses and disabilities may step-up the need to seek for long term care. There are several sources of long term care; unpaid caregivers who are usually family members, adult day care facilities, and insurance services. However, long term care insurance is the most common whereby adults of 65 years and above may seek for an insurance cover that will look after them during their lifetime (“What is Long-Term Care? – Long-Term Care Information,” n.d.). The cover is basically a nursing home insurance and it has its benefits and odds.

Most people may get uncomfortable depending on their family to get care once they grow old. To avoid cumbersome reliance on family and relative to take care of you, a long time care policy is essential (Feldman and Oberlink, 2003). This cover also reduces costs that would be used to purchase daily care from institutions such as adult daily cares that are relatively expensive. LTCI may also benefit both individuals and employers by allowing for tax deductions. Nevertheless, some also consider these policy as a way of insurance companies to wipe people’s life savings. Therefore, the common odd of LTCI is that it is considered expensive in the longtime with limited benefits (Feldman and Oberlink, 2003). 

References

Feldman, P. H., & Oberlink, M. R. (2003). The AdvantAge Initiative: Developing

community indicators to promote the health and well-being of older people. Family

and Community Health, 26, 268-274.

Kinsella, K. G., Velkoff, V. A., & United States. (2001). An aging world: 2001. Washington, DC: U.S. Dept. of Commerce, Economics and Statistics Administration, U.S. Census Bureau.

What is Long-Term Care? – Long-Term Care Information. (n.d.). Retrieved from http://longtermcare.gov/the-basics/what-is-long-term-care/