The true cost of long term care

Paying for long-term care can have a significant financial impact on families. It is a big reason why each more than 65 million Americans year provide long term care to an adult family member. However, costs for family carers are still steep.

A recent study found that nearly half of caregivers spend more than $ 5,000 per year on out of pocket health care delivery costs, and about a third spend more than $ 10,000. If a loved one needs care in a facility or assisted living nursing, these costs can skyrocket quickly erase a lifetime of savings.

The real cost of long term care, however, goes far beyond dollars and cents out of pocket costs. Indirect costs can have a significant impact on physical and emotional health, career caregiver and even family relationships. This is something I learned firsthand in my experience as a caregiver.

Many caregivers say you do not plan to be a carer often to you.

many caregivers say you do not plan to be a carer often to you. Here's how I ended up taking care of my mother. A plan was not in place, and since I was the only one of my siblings who still live in the same state, I became his caregiver.

A delicate balance of priorities
The next seven years required a delicate balance of responsibilities, as I continued to work full time and my husband and I raised our three teenage children. Inevitably, the priorities changed and sacrifices had to be made to provide my mother with the care she needed, which affected all areas of our lives. While I fortunately had a strong support system to help get me through it all, my experience has convinced me that long term care insurance is the right solution for my family so that my children should to go through a similar situation.

But my story is not unique. Like many of those who took care of a loved one can tell you, this is a common experience for caregivers. Unfortunately, most families will explore long-term care options when care is needed, which amplifies the effects of caregiving. Consider that for caregivers working:

• 60% say that their duties had a negative impact on their employment
• 68% brand working accommodation
• 64% arrive late at left early and / or take time off in the middle of the day
• 17% have taken leave
• 9% reduction of hours or took a less demanding job
• 5% refuse promoting
• Those who leave the workforce to provide care lost an average of more than $ 300,000 in income and benefits.

the ripple effect of caregiving can also quickly reach other areas of the life of a caregiver, including the relationship of health and family. When you are so focused on caring for a loved one, it is easy to forget to take care of you. Sometimes it may not be sufficient enough time in the day, so it's easy to understand why about one in five caregivers believed their health had worsened because of their responsibilities.

In addition, between 40% and 70% of caregivers of seniors have significant symptoms of depression. Other common health problems of family caregivers include anxiety, heart disease, hypertension, sleep disorders and fatigue increased.

Between 40% and 70% of caregivers of seniors have significant symptoms of depression.

It changes family dynamics
When you take care of a parent, having less time for yourself also means there is less time for your family. Caregiving changes the dynamics of the family, which can strain your relationship with your spouse and children. It can also create stress and conflict with siblings when it comes to matters such as financial support and the sharing of family responsibilities.

If you watched the Real Life Stories videos to life happens like Mollicone family, you understand that through a long term care situation will always emotional and often stressful experience for families. Plan ahead with solutions such as insurance of long-term care can mitigate the impact protecting the finances of the family, offering choices for where care is received, completing the provision of family care, and to help a family to maintain their lifestyles and careers. It can also provide peace of mind knowing that their care needs will be met without requiring difficult decisions and unimaginable sacrifices of their families.

is Long Term Care Awareness Month, I encourage you to spend some time reviewing the future of your family. Take the first step in learning the planning of long-term care and how solutions such as long term care insurance can protect you and your family.