How Long Term Care Affects Women

How Long Term Care affects Women

Long-term care is an issue directly concerning many women-and therefore directly affecting their employers. More than 75% of unpaid care-givers in the U.S. are women. In addition, women represent 75% of residents in assisted living communities and 80% of Nursing home residents. This makes it clear that the need for extended care affects women greatly.

It has been said that long-term care needs hit women twice; first in providing care to parents or other loved ones, and then later in life when women need long term care for themselves. Informal care-giving responsibilities fall more heavily on women, many of whom are older women with health problems of their own. 

Care-giving responsibilities come with economic costs. Among working caregivers who had to make a work adjustment due to care-giving responsibilities, one study estimates an average of $659,000 in lost wages, lost social security, and pension contributions over a lifetime.

However, the cost is not solely economic. 44% of female caregivers report high levels of physical strain and emotional stress as a result of care-giving. 

It is important for women to plan for changes in their health over time, not only as a care-taker but in the event that their health changes and they need assistance to take care of themselves.   For more information about the options available to plan for this coverage, contact Lucy Grosz at 614-88-0934.

The Value of Dignity

When Linda Devitt and her brothers bought a long-term care insurance policy for their father, protecting the legacy of the family farm was their core concern. Devitt, an insurance specialist at Newman Long Term Care in Richfield, Minn., always thought that preserving the legacy of the farm would be the best thing about having long-term care insurance for her father. But when he decided to go into a nursing home several years later, it turns out not having to share his room or bathroom was equally important.

Because he had long-term care insurance, Devitt’s father could afford a private room, unlike many of his friends living in the nursing home whose care was provided by Medicaid. “The last lesson my father taught me was that dignity is as important at 87 as it is at 67,” Devitt said.

Without long-term care insurance, Devitt’s father would not have been able to maintain his independence and dignity he worked so hard to achieve his entire life. Long-term care insurance allows people to remain self-reliant as they get older. 

It is a common misconception that Medicare will pay for long-term care needs. In reality, this federal program only covers a small percentage of these costs and does not cover personal or custodial care, which includes helping people accomplish daily tasks such as bathing, dressing and eating. 

Dignity is important at any age and should not have to be sacrificed when the need for care arises. Contact Lucy Grosz today at 614-889-0934 for a no-cost, no obligation consultation on your long-term care planning options.