The National Alzheimer's Project Act of 2010 (NAPA) created the Advisory Council on Alzheimer's research, Care and Services. On April 29, 2013, the council heard from Alzheimer's caregivers and patients about long-term care planning, dementia and a variety of other issues affecting those who live with this debilitating disease. The council is updating the National Plan to Address Alzheimer's Disease. The purpose of that document is to identify various strategies to help the country treat or prevent Alzheimer's by 2025.
People are living longer than ever today and while this is good news, it does bring about some difficulties. As people live longer, they will need more long-term care planning options. Many senior citizens have financial plans in place to deal with retirement; however, most do not have the money to afford long--term care if it was needed.
Though death is unavoidable, many people are afraid to talk about the topic. This has resulted in a number of individuals being unprepared for the future, particularly when it comes to long-term care. Nowadays, people are living longer than they ever have before so long-term care planning should be seen as an important step toward a future of living on into old age. The problem is that many ignore it and see themselves as invulnerable until it is too late.
The financial instability seen during the past decade has left many people - elderly and otherwise - unsure of the future. Though planning was performed, many in Massachusetts are still anxious about what their plans will truly protect them from. One of the major holes in those protections is a lack of long term care planning, something that many people will need to do if they plan to financially survive a debilitating condition without severely affecting their loved ones.
A recent survey of investors conducted by UBS Wealth Management Americas may leave some surprised. The results of this study found that more people are worried about the costs of a life without long term care planning than those that are concerned about their retirement funds. This is not reflected in the way that many financial advisors work - with the goal of a solid retirement plan in mind.
Many people don't include end-of-life health care provisions in estate plans because death is a subject most people want to avoid. Strategizing asset transfers for heirs may provide the emotional distance from death that long term care planning for the elderly does not.
Many experts believe that too few elderly people have plans for their long term care and their eventual death. According to many studies, this is exactly the case and it should make people in Boston realize the need for long term care planning. With the many advances in medical technology, people are living longer than they ever have before. That means that the behaviors of past generations witnessed by the current elderly population may not be models to follow.
If estimates are right, many people will be in need of a certain type of assistance. That type of assistance is long-term care, and experts believe that as many as 12 million older Americans will need such services in 2020. This means that the elderly in Massachusetts should begin preparing for the expenses that come with such care so that loved ones are not left with the emotional and financial stress of care as they age.
According to reports, the average age of people acquiring long-term care insurance is on the decline. Roughly a decade ago, the average age of policyholders was 67 years old. Now, that age is 57. This may mean that younger people are realizing that long-term care planning is necessary and that long-term care can be extremely expensive when uninsured. Elderly residents in Massachusetts may want to take note of this information.