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-- -- -- you with us right now.
Former Olympic gold medalist turned long term care expert hasn't happened.
Nice transition yeah.
My I really got into the industry because my father and my mother were both my Olympic coaches.
Up until I was eighteen years old my father had been ill.
He became increasingly more ill after the Olympics and we were thrown into how to pay for his care what kind of -- turned probably put him -- in nursing home can he stay out.
His own home town having -- might provide care unit with.
To look at all of that Tracy keep in mind.
Thirty years ago when my dad went through this nursing home costs were eighteen dollars today.
My mother no reason in nursing home with 232 dollars today -- -- Understanding where the costs star.
-- force for Americans out there is critical they need to know what local costs are which is what the the survey are Genworth surveys have shown.
-- -- with generous now generally does this big survey and what are some of the things that it found them in this costs of care and your point that you should fines.
Your local -- I don't think people think about that you're basically saying figure out what the nursing homes cost in your area.
And -- nursing homes with a Genworth -- care survey and they have done this for eight years now so may have seen that.
That transition and.
Costs that are expensive getting really really expensive local costs are important because people want to stay in income yeah so finding in having an education and an information.
A handy is important whether it's for new for your spouse for your loved ones local cost what are they.
Where the cost for nursing home.
Assisted living facility.
In home care what the survey has found is nursing home in this down economy nursing home costs.
Are rising continuing to -- 3.4 percent this year over last year assisted living facility.
2.4 percent rise in assisted living facility.
Over a year ago.
Health care in your own home.
Interestingly enough has remained relatively flat.
Because you don't get paid.
Good point because -- 83% of all people caring for loved ones.
Are you and me yeah sandwiched in -- -- asking you and I didn't have I don't know about you but I three kids I didn't have seven and -- kids like -- might not ever grace well.
So -- -- it's increasingly difficult for failing to take care of their loved ones certainly of our generation.
So certainly with home care there are a number of things that people can be aware on the home care fraud in terms of of cost and all of this.
I think to what has brought out on the survey is you can negotiate cost.
Whether it's in the nursing home assisted living their home care.
People would never think for a minute to go and buy a car without doing research right -- and -- and who does this better how can -- get this less expensive.
It's absolutely no different.
In and looking -- long term care costs facility and in home care.
No different negotiate negotiate what are the things that that consumers can do -- to do that.
But this private nursing home costs and easing up a city 5000 dollars a year.
And what's so awful about it is dose and sometimes those last days or just and you wonder why we're doing -- sometimes all of us money we spent well you know it's all about.
Planning having last strategy so if consumers can get Ahold of these costs.
Understand what these costs are today.
And what is gonna happen into the future you can really happy playing -- there are only four ways to pay for your care.
Right only four ways it is either your family.
Men in -- can be a combination of these but failing.
Understand what Medicare and Medicaid -- do not pay his Medicare doesn't pay for long term care costs.
Out of your own pocket which is what most people are doing right now.
And the fourth.
Ways find an insurance policy long term care insurance policy he says other service is 61% of caregivers have used some of their savings to care for allegedly so that means that -- -- again.
Is hurting their own retirement but we're getting hit I'm -- signs that you bet.
It cured just from the standpoint of care giving and women who were the primary caregiver in this country.
They really get from multiple landings because they haven't -- enough made enough money so when they get to that 708090.
They really don't have the funds to even to even have dollars for that particular kind of care.
I think if people can have a strategy -- have a plan in place and get.
Planning writing whenever that is getting writing for yourself for your -- and.
-- and windy start this because it lets say you are considering long term care insurance.
There are you know you -- Some at my age trying get a much cheaper then my you know apparent abuse in their seventy's at this point.
And I absolutely sure look -- my husband -- bottom at 42 years old he did I'm 56.
Younger you are no less expensive it is the healthier you -- to -- you and I are never going to be as healthy as we are this day I know it's all based on our own and so I thought oh good we leave.
No we're looking good.
If I suppose you did it for the sake of your children break you don't want your kids to be -- in which year lock your care costs there's a survey out that showed exactly that people.
If they had a long term care event in their life they do not want to be a burden to their family right they want to hold on to them to their money as long as they can.
Burton is one thing financial burden for caregivers another to your point 61% of people.
Who are providing care or tapping into their retirement funds they're going to work late.
They're leaving their job early in many and because 75% of caregivers in this country are women are quitting their job entirely.
To provide care for a loved one.
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