Long-Term Care Awareness Month started 20 years ago. It’s a month dedicated to drawing attention to the need for long-term care planning.
You may not know how fast your parents’ savings will drain if there is a chronic health condition. To save money, many families opt to care for their parents on their own. However, that has an impact on your quality of life.
It would help if you made long-term care plans that cover everyone’s needs without causing undue financial or emotional strain. Take a look at the facts to see how important it is to discuss long-term care plans.
The Population of Older Adults Is Growing
There were over 54 million adults over the age of 64 in 2019. People live longer and often end up needing help due to common chronic health conditions like Alzheimer’s disease, heart disease, and stroke. This leaves many families to find care solutions when their parents struggle with activities of daily living.
Many Caregivers Are Still Working
Looking at caregivers’ ages, you’ll find that 44% of them are between the ages of 18 and 49, and 36% are 50 to 64. Many caregivers are still working and need that income and insurance benefits.
Family caregivers report caring for a parent for around four years on average. Almost three out of ten family caregivers say that the care extends beyond five years. For some, they’re caregivers for ten or more years. That’s a lot of time to have to take off work or work reduced hours to ensure there’s time to offer the necessary care.
Caregiving Can Require as Many Hours as a Part-Time Job Does
When asked about the number of hours they help care for their parents or other family members, caregivers reported an average of 22 hours. That’s essentially the same hours as a part-time job. It’s hard to work full-time and also provide the needed hours of care.
Use Elder Care to Find the Right Balance
Are your parents healthy, or do they have chronic health conditions? Sometimes, health care issues worsen as they progress. The need for care will increase.
This helps you create a care plan that considers the increasing need for care months or years from now. If you still work, you might not have the hours to devote to their care. Your brother or sister might, or your parents may need to consider elder care services.
Elder care services help you find the balance you need. While caregivers help your parents with their daily activities, you’re able to go to work, run errands, or go out with friends and family. Your parents are never alone, and you get to take breaks. Call an elder care agency to get started.
Sources:
https://acl.gov/sites/default/files/Aging%20and%20Disability%20in%20America/2020ProfileOlderAmericans.Final_.pdf
https://www.caregiving.org/wp-content/uploads/2021/05/AARP1340_RR_Caregiving50Plus_508.pdf
