Why Don't People Plan for Long-Term Care? - Part 2

Reason #2 – People don’t believe they will need it.

Contrary to the overwhelming amount of evidence to the contrary, many people just do not believe that they will be the ones that need long-term care. This may have to do with people’s fear of certain planning tools such as long-term care insurance.

Regardless, according to the Genworth survey, seventy percent (70%) of Americans over the age of 65 will eventually need some type of long-term care. In addition, by the year 2040, twenty-two percent (22%) of the population will be over the age of 65, which is a ten percent (10%) increase from the year 2000. Yet, the survey showed an increasing number of people over the age of 40 refusing to believe they will ever need long-term care.

I hope this information is helpful for you. Although not a popular topic amongst many, long-term care is an increasingly important one. Massih Law, LLC is in the business of providing legal options for people in planning for their potential long-term care needs.

If you, a loved one or a client needs help figuring out their options, please think of us. We can help and we are always happy to hear from you. You can reach us at (203) 651-5521.

Categories: Elder Law, Medicaid