Yes, we are healthier and living longer than any time in the past, but along with advanced age comes the chance of living with chronic conditions. Although many chronic conditions are manageable with treatment there are equally just as many that require long-term care. Unfortunately, we cannot prevent or avoid illness and disease because some conditions are simply uncontrollable due to genetic predisposition, gender, age, and race. Another key point is the financial burden associated with illness and care; thus, as we age, we remain one serious illness away from financial ruin in the absences of preparedness. The cost of health care continues to rise each year, which is evident when considering in 2000, “the average Medicare beneficiary, age 65 and older, spent $3,142 for out-of-pocket costs” (Friedland & Summer, 2005, p. 62). Notably, this figure excludes long-term care expenses, which in 2000 ran upwards of $44,000 for nursing home care. However, more recent figures suggest the annual cost has risen ranging between $51,100 on the low end (Texas) and a high of $131,758 (New York). Although, we may not require such services there remains additional considerations such as adult day health care or assisted living arrangements. Recent figures placed adult day health care at $28,800 annually and assisted living at $41,010 …show more content…
However, what is somewhat surprising is that the article, which was written ten years ago revealed the importance of preparing for long-term care, yet such advice seems to have gone widely ignored. According to Family Caregivers Alliance (2015), “one in four people age 45 and over are not at all prepared financially if they suddenly required long-term care for an indefinite period of time” (Long-Term Care Expenditures). Thus, it is likely safe to infer the statistics for those under the age of 45 are far worse. It is important that people realize that regardless of age, illness, disease, and injury is nondiscriminatory; therefore, nobody is guaranteed