Last year, just under 40 million Americans provided care to an elderly spouse, family member, neighbor or friend, making up 16 percent of the U.S. noninstitutional population age 15 and over.
According to analysis of data by the American Association for Long-Term Care Insurance the majority (56 percent) were women. “Eldercare providers are those who provide unpaid care to someone over the age of 65 who needed help because of a condition related to aging,” explains Jesse Slome, executive director of the national trade organization that studies health and medical trends that impact the needs of older Americans.
According to Slome, individuals ages 45 to 54 and 55 to 64 were most likely to provide eldercare. “The percentages were 23 percent and 22 percent for each of these two categories,” Slome one of the nation’s leading long term care insurance experts shares. “The majority, some 42 percent cared for a parent.”
Eldercare often consisted of tasks also referred to as conditions requiring long term care. “Regrettably, the vast majority of Americans have no plan to address the very real risk they or a loved one will eventually need long term care,” Slome acknowledged. “When the time comes they are going to have to turn to their spouse or adult children for care, changing their lives sometimes for months, sometimes for many years.”
According to the Association, some 8.1 million Americans currently have long term care insurance protection according to the Association’s 2012 research. “People seem to focus on the financial benefits of this protection and they are important,” Slome adds. “But the real benefits are non-financial. This protection allows your loved ones to care about you rather than having to be forced to care for you.”
For more information or to connect with a knowledgeable long term care insurance professional designated by the Association, call their Los Angeles national headquarters at (818) 597-3227 or read free guides authored by Slome on reducing long term care insurance costs that can be accessed on the Association’s website.
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