Everyone who plans to live longer is taking the risk of needing long term care. Usually, the thought is if you are old, that’s the cue to need any type of care, especially long term care. The case is not quite like anyone who may need daily help like cooking, bathing, and dressing is likely to need a companion or a home health care aide.
There is the same confusion about nursing homes and assisted-living, and there is the cost, how much will it cost me to transfer my parents to a facility? Would it be less expensive to keep them home and hire someone else to check on them and actually assist with whatever needs to be done?
I think I have learned over the years that it is cheaper to keep your loved ones at home when you know how to delegate and manage the time spent with your family members. If you are the type that does not know how to delegate and you keeping hovering around to micromanage the aide, you are losing money.
Back to long term care is some who has diabetes and or any other chronic disability. It is costly when their illness is left for an emergency or last-minute decisions.
The best course of the action is educated yourself on what are your options, whenever possible, attend workshops to learn what cost is out of pocket or what insurance pays.