Are There Gaps in Your Long-Term Plan
“If we had a crystal ball and knew what the future held, we would be great planners,” says Joan Krueger, Executive Director of Envisage, a long-term planning solution from your leaders in aging services, Presbyterian SeniorCare Network® and Lutheran SeniorLife. Ms. Krueger explains that having a long-term care plan in place well before you need it is critical to living your life, your way. “If you don’t have a plan in place, someone else will be deciding your future for you,” Krueger adds.
It’s important to consider what makes a plan insufficient before you can formulate one that works best for you and your future. Identify gaps in your long-term care plan by reflecting upon the following questions:
- Who is going to be your “advocate” in arranging, managing and scheduling services for you if you have an unexpected illness?
- Is your advocate qualified and prepared for those tasks?
- How will you pay for these services?
- Are you counting on family and friends to help you deal with an unexpected health crisis?
As you begin thinking about these questions, you may start to notice more and more gaps in available long-term care plan options.
If you intend to rely on Medicare for your long-term plan, visit www.medicare.gov/coverage/long-term-care, and you’ll learn that it doesn’t cover extended care. If you are relying on long-term care insurance, know that the policy likely does not offer a resource to help you navigate the health-care system and coordinate your care. Coverage also might not be available immediately, meaning there may be a period of time when you will be responsible for long-term care costs before your coverage begins.
It also may not be prudent to rely on your family and friends. Consider this Fidelity Investment survey fact: 72% of parents expect their children to become their longterm caregivers, but 40% of those children had no idea they were chosen for that role. Additionally, consider the burden of caregiving. Studies show that an individual is six times more likely to suffer from clinical signs of depression than the average person their age if they become a caregiver.
Identifying and understanding the gaps in traditional long-term care plan options can help you make educated decisions on how to fill them in. “If you envision a future of living independently in the home you love without being a burden to your family and friends, Envisage may be right for you,” notes Krueger. Envisage provides longterm care coverage and also helps you to stay healthy by providing you with a personal wellness & care coordinator that can connect you to wellness resources and help you navigate the health-care system.
Krueger emphasizes, “Now, while you are healthy and independent, is the best time to put a plan in place that provides peace of mind for you and the people you care about most.”
Envisage will be hosting complimentary informational events that can help you reflect upon your long-term plan. Throughout the week of March 23rd, sessions are available on these two topics:
1. Discovering Wellness: How does YOUR long-term plan support staying
healthy and being prepared for unanticipated care?
Learn ways to enhance healthy living and have the future care coverage and support you may need.
2. Mitigating Risk and Burden to Your Family: Does YOUR long-term plan help protect your assets? Hear about long-term planning options that can help to protect your assets, while providing the care coverage and support you may need in the future.
To find a date and location that’s best for you, visit www.Envisage.org/RegisterNow
Sponsored content brought to you by Envisage.