When There’s a Risk of Alzheimer’s, Discuss Long-Term Care

By Steve Elliott | March 4, 2024 | Comments Off on When There’s a Risk of Alzheimer’s, Discuss Long-Term Care

Is there a family history of Alzheimer’s for you? Has somebody in your family — whether a grandparent, aunt, great uncle or even someone a bit more removed than direct lines — ever dealt with Alzheimer’s or a different form of dementia? Unfortunately, in our scattered American society, many people don’t fully know or understand their history of health issues, at least within their family and extended family. The best thing you can do if there is any risk of developing Alzheimer’s or dementia for you, your spouse, or other members of your family is to talk about long-term care insurance and consider long-term care insurance premiums.

Long-Term Care Insurance Premiums Oceanside CA - When There’s a Risk of Alzheimer’s, Discuss Long-Term Care

Long-Term Care Insurance Premiums Oceanside CA – When There’s a Risk of Alzheimer’s, Discuss Long-Term Care

Suppose there has been someone who was once diagnosed with Alzheimer’s, even if it was many years ago. In that case, you are at an elevated risk of developing that or a different form of dementia than somebody who has no history of Alzheimer’s. That doesn’t mean just because nobody in your family has ever been diagnosed with Alzheimer’s that you are free and clear. There is always a risk.

Why is this important to understand?

Because the expenses — both emotional and financial — of supporting somebody with Alzheimer’s can be extreme. It can leave some families financially devastated. It can shatter relationships.

It is something that needs to be discussed about how you and the rest of your family will deal with something like this in the event it happens. The greater the risk in the family, the more important it becomes to talk about long-term care options.

Why would you consider long-term care?

A person with any form of dementia is going to require ongoing care at some point in time. For somebody with Alzheimer’s, for example, the memory loss and other signs and symptoms of the disease are going to make it so they won’t be able to tend to their own basic needs.

That means long-term care. Whether that comes in the form of in-home care aides, a live-in caregiver, family members taking on the role of caregivers, assisted living, nursing home care, or something else, there needs to be a plan in place. The one thing you should not do is assume your primary health insurance or Medicaid will cover those expenses. In most cases, they won’t, at least not until you have spent down the majority of your savings and assets, which can include the equity in your home.

How long might you require long-term care?

Let’s say it’s you who may be diagnosed with Alzheimer’s 10 or 20 years from now. The average life expectancy for Alzheimer’s disease is between eight and 10 years, upon diagnosis (Alzheimer’s Association). Of those 8 to 10 years, you might require on-hand care for the majority of them, let’s say six years.

If nobody is around to be able to help you or if your adult children live across the country or in other parts of the world, your spouse is gone, then you will need professional long-term care services. How would you pay for it?

Long-term care insurance can cover up to three years of long-term care expenses, which can help protect all the financial resources you worked your entire life to build.

If you or a loved one are considering Long-Term Care Insurance Companies in Oceanside CA, please get in touch with Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today at (858) 350-3161.

Steve Elliott
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