Planning for the future is important, particularly when it comes to health care. As Texas readers may know, many people have not saved and invested for their long-term needs, which could impact their ability to deal with medical emergencies in the future. Experts agree that long-term care planning is important, but they believe that as many as two-thirds of Americans are under prepared.
It is important to plan for potential needs in the future, but these needs will differ on a case-by-case basis. People should be prepared for nursing home care, long-term disability, day-to-day health care needs and more. It can even be beneficial for people to plan for the possibility of requiring in-home health care.
Financial experts say that if people wait too long to save, they may not have enough time before they need extensive medical care or long-term help. Aging is not a popular subject to consider, but studies show that most people will end up needing help with performing daily activities at some point in their lives. Contrary to what many people believe about government programs, they may not be able to depend on Medicare or Medicaid.
Planning for long-term health care needs is something that all Texas readers should consider no matter where they are in life. A secure future starts today, and long-term care planning is for people of all income levels. Those who wish to know more about their legal and financial options can seek the opinion of an experienced estate planning attorney.
Source: staugustine.com, “Local experts: Plan early for long-term care“, Stuart Korfhage, June 4, 2016