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The requirement for Long Term Care Insurance for Baby Boomers

The requirement for Long Term Care Insurance for Baby Boomers

There are hardly any people who can predict about his/her health condition after a few years from now onwards. An individual may fall prey to long term care anytime. Similar things go with baby Boomers also. So the question is that, whether Baby Boomer requires purchasing long term care insurance policy or not. This article has been written keeping in view of the above mentioned question and also helps in searching the probable answer of this question. It features the point of view of Baby Boomers on long term care and the different provisions, on which these baby boomers depend to get long term care. It also enumerates the history of the Americans years ago and how long term care got involved in every ones lives. It proceeds chronologically and in the end of the article stresses the probable need for long term care insurance among the baby boomers.

Baby Boomers need to have a definite point of view on Long Term Care

Baby Boomers have been transforming the background of the existence of the people who reside in the United States of America. This is from the day we have started becoming glued in front of the Philco TV showing Davy Crocket coonskin caps. One can surely say that, this vogue will be ongoing even at the time of our retirement; when we will grow elder by that time.

A brief history of America and its people who lived in the country years ago

However in order to understand the requirement and viewpoint on long term care by the baby boomers, let us initiate by knowing the history of the people of the country and the gradual modifications that took place over time. In the past, the people living in this country hardly thought about long term care and its effects. Our previous predecessors used to dwell together in the countryside. Our grandparents used to take care of their children and in return the children used to take care of them. However, keep in mind that we are not referring to our great grand parents in this piece, as below 1 individual among 10 people as lately as 1900 in reality, was alive up to 65 years of age.

Shortly after 50 years, 9 past 10 individuals were found to subsist up to 65 years of age. Gradually the people of the country started migrating to the towns and metropolis. They started becoming accustomed to the metropolitan life. Depending upon the layout and prototype of the hospital, nursing homes were constructed and it became the only destination for the Americans to report their budding long term care quandary. Thus it can be remarked that gradually, long term care cast its effects on the people of the country. The Agency for Health Care Policy Research has surveyed in the year 1996, that 2 past 5 inhabitants of the country, can anticipate spending some period of time in the nursing home for long term care.

In spite of everything, till today, most of the long term care services are given unofficially to a patient by his in laws, generally by his wife and daughters. This is the most common scenario that is still found in the country's social life.

The present scenario of long term care services among baby boomers

From the above discussions it can be seen that earlier, people hardly paid any heed about long term care until and unless they fell prey to it. This was also the case with the baby boomers. But the period is gradually shifting now from the old times to the modern age. In this context when speaking of the baby boomers, it can be said that these boomers are solely accountable for massive alterations in the societal and demographic scenario of the nation. Greater frequency of legal separation cases, formation of nuclear families (as per a survey it was showed that 1 past 4 of the baby boomers are devoid of any child in their family), higher geographic shifting and the rise of women as employees; all signify that your chances of receiving and offering long term care, for and by your in laws is comparatively lesser. Therefore in order to uphold their liberty, baby boomers are thus seen to depend heavily on salaried caregivers for the purpose of receiving long term care.

All at once, it should be also remarked that baby boomers are rarely seen to receive the conventional form of care that is offered in the nursing home facility. A survey conducted in this regard also showed that it is a very rare case, when baby boomers are seen to receive care in a nursing home. Since the past decade, there is a significant growth in the number of sustained living provisions and residential care facilities. Baby boomers are seen to remain heavily dependent on these facilities for receiving long term care, apart from receiving care from salaried caregivers. The substitutive care resources are expected to modify into the prime venues of long term care in the following 10 years for the baby boomers and also for many other people. Even more fundamental substitutive means such as sustained living cruise ships and further developed residential care facilities are expected to emerge up in the coming years.

Some of the probabilities that are expected to emerge, if certain issues crops up

When it comes to availing long term care, no matter whatever form of care the baby boomers wish to avail, but they can anticipate spending a more amount of money than that paid by the seniors at present. With the increase in the age of boomers, the need for long term care will simultaneously rise up. On the other hand it has also been calculated that, if the proportion of the employed caregivers diminishes, the price of long term care services will increase consequentially. Over and above the protective means of the Government of the United States, like the Medicaid will fall under huge pressure, if the percentage of tax-payers is found to reduce drastically from the financial sphere of the country.

Governmental aid to promote long term care insurance policies through various means, among the general people and the baby boomers

Being acquainted with the impending predicament, each and every thing that is to be done to advocate the buying of long term care insurance policies, is being undertaken by the federal and state governments. No stones are left unturned by the government to make people and the baby boomers aware of the requirement of the long term care insurance in their lives. Even there are a majority of the states of the country that has brought out new partnership programs, which offers monetary incentives for the individuals who would buy the long term care insurance policies. Similar other benefits and offers, are being provided by the government in order to attract more and more purchasers of long term care insurance policies.

Buying of long term care insurance policies is solely on the decision of the Baby Boomers

Therefore, all baby boomers who have grown older in age may generally have the requirement of long term care anytime. So it is high time for them to purchase a long term care insurance policy in order to get care. However, those baby boomers who are still a bit younger in age and expect to have long term care after many years, can decide to hold on for some time. This is because by the time they will have the requirement of long term care; they will also have access to other substitutive means of getting care. This may be like the sustained living cruise ships or advanced home care facilities, which are expected to release in the forthcoming years.

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