Caregiving and Why LTCI Is So Important

Chances are you, your neighbor, a family member, or a coworker are providing some form of caregiving services. In the United States, millions of people provide support and care for ill or impaired loved ones. Yet, many don’t talk about the effects of caregiving on family members and what can be done to address the issue.

The Truth About Caregiving

As more people are facing disabilities, illnesses such as cancer, and cognitive impairments (i.e. dementia and Alzheimer’s), the need for caregivers is increasing more than ever before.

Family caregiving, such as care given to partners, other family members, or close friends, includes the vast majority of care and support given in the United States. According to the AARP Public Policy Institute in 2013, family caregivers of adults with chronic or disabling conditions provided nearly 40 billion hours of unpaid care worth nearly $470 billion.

The bulk of care recipients (42%) are a parent with the next largest group being a non-relative individual (15%).

Infographic caregiver statistics at caregiverconnection.org states 39.8 million caregivers provide care to another adult age 18 or over. The majority of family caregivers (75%) are female and 48% are between the ages of 18 and 49. The bulk of care recipients (42%) are a parent with the next largest group being a non-relative individual (15%).

When providing care to a family member or friend, many caregivers forgo taking care of their own health and well-being. This trend has led to shorter lifespans for family caregivers and a higher probability of illness, injury, and psychological issues such as depression. It’s estimated 40-70% of caregivers have significant symptoms of depression.

Long-Term Care Insurance Helps Families with Caregiving

Long-Term Care Insurance (LTCI) gives families more options for care. While many adult children juggle careers, raising their own children, and caring for aging parents, it’s impossible to be all things to everybody. LTCI offers families peace of mind.

LTC coverage can help pay for care in the home, at an assisted living facility, memory care unit, nursing home, and more. Caregiving at home or in a facility is expensive, but LTCI lifts this burden for families of covered individuals. With LTC coverage, you get more options for how and where you want to receive care without worrying as much about what it will cost.

Home care services offer care where most people want to receive it and may help certain individuals stay in their home even longer. As families can be spread out or need to work during the day, home health nurses can help ease the challenge of daily care for family members.

Caring for a loved one can be physically and emotionally taxing. By sharing the care responsibilities with a home care nurse or facility staff, you can enjoy chatting and spending time with your family member rather than focusing on caregiving each time you visit.

Does your family have a long-term care plan? Don’t forget, long-term care services aren’t just limited to the elderly. Long-term care could be needed at any age due to an accident, injury, or illness such as cancer. Learn more about your options by contacting the experts at LTC Consumer today.