Who Do You Think Pays 
For Long Term Care?

Whoever said that the government 
would take care of you is a liar!

Congress has spoken loud and clear and they have said:    

• You are on your own!

• We only care about high earners and fat cats!
  
  You, the little guy are on your own.  We don't care about you, so don't even think about looking to us for help if you need Long Term Care, not unless you are dead broke and ready to apply for welfare!

So, who does really pay for most Long Term Care?

Women pay for most long Term Care!

Who do you think takes care of Mama when she needs care?  It is rarely the male of the species.  He's much too busy!  Long Term Care impacts women, both as care providers and as recipients, far more profoundly than men.

Inevitably it's the daughters that provide much of the unpaid care for aging parents that are ailing.

It's the daughters that suffer the back strain of helping lift a parent out of the bathtub, and it's the daughters that suffer the heart attacks and strokes brought on by the stress and strain of trying to do the impossible.

Unless the parents were far-sighted enough to purchase Long Term Care Insurance years ago, long before they needed care, or unless they are wealthy enough to be able to afford the outrageous cost of hiring paid professionals to provide Long Term Care, who else do you think is going to be expected to drop everything, give up their own lives, and take care of Mama?  Of course it's the daughters.  Who else is there?

You have undoubtedly heard that on the average, women outlive their husbands by a number of years, and that the majority of residents of Nursing Homes are women. These are both true statements but let's look behind the statistics.

Who do you suppose provides most of the unpaid care for those husbands during their illness?  Of course it's their wives, in many cases assisted by their daughters.  Who else is there?

According to a recent study presented to the Congressional Women's Caucus, women are 60% more likely than men to enter a nursing home at some point in their lives.  Women may also expect to experience large financial and emotional sacrifices in their roles as America's predominant unpaid caregivers.

The same study estimated that:

• There are around 23 million unpaid care providers in the U.S. and that seven in ten are women.

• Nearly one in five unpaid caregivers (19%) provide "constant care" of at least 40 hours of care per week.  Of those who provide constant care, 80% are women.

• Women 65 years or older today have a 44% chance of entering a nursing home at some point in their lives compared to 27% of men.

With the first wave of America's 77 million baby boomers turning 60, it becomes more critical than ever for both men and women to seriously evaluate the lifestyles that they expect to maintain as we live well into our 80's, 90's and even beyond.  Women especially need to evaluate and address what has been revealed to be a gender-specific, disproportionate share of the Long Term Care burden that comes with today's greater longevity.

After her husband's death, and after his illness has depleted much of the family's meager savings, should his wife become ill and need care, unless there is a daughter who can afford to drop everything, pitch in and help take care of Mama, she is going to have little choice but to apply for welfare.

Is that really what you want?

• Have you worked and saved for a lifetime, only to apply for welfare in your old age?

• Should your husband say to you:  "We can't afford to buy Long Term Care Insurance".

• Perhaps you should say to him: 

 "Hey buster, we can't afford not to buy Long Term Care Insurance!"