Long Term Care vs Medicaid
In writing, one is taught to not personalize, but with this story I wanted to share my real life experience. Throughout my youth, I watched both grandmothers work hard and can attribute my strong work ethic to both of these women along with the men in my life. My point is, they were not slackers, and never expected that the day would come that social security would not provide for all of their needs. Listen UP! Social Security is NOT going to take care of you in your old age. The quicker we realize this – the better for the future.
Before I got into the insurance business I watched one grandmother struggle to make ends meet with just enough to pay the bills from social security. My grandfather did not have life insurance. I experienced the other grandmother have to position herself in a state of poverty in order for Medicaid to take care of her while I watched my father, a retired police officer, struggle to help her financially during her five years in a nursing home. We were lucky as a family that these financial needs did not devastate us. Like I said, we were the lucky ones.
The reason I tell this story is because it made me a huge advocate for Long Term Care Insurance. By having this insurance you can have many medical and non-medical services provided. It includes assistance for chronic illnesses and disability. Long term care helps meet health and personal needs while preventing loved ones from having to financially maintain your lifestyle or worse, not be able to take care of you at all. This is an immense burden to place at the feet of our children.