Are You Prepared for Long Term Care?

Disclosure: I wrote this review while participating in a campaign for Mom Central Consulting on behalf of Genworth. I received a promotional item to thank me for participating.

Genworth #LetsTalk Tour

Do you have a long term care plan in place? With all of the health issues that our family has endured this past year, we’ve started talking more about aging and the future. Especially with my parents getting older, it’s a topic that I would like to discuss more with them. They’ve told me their plans for when they die, but we’ve never really touched on the topic of long term care as they grow older.

Seeing what the annual care costs on the Let’s Talk site has really opened my eyes. For example, the 2014 Illinois state median annual cost of a private room in a nursing home is $74,463, with the cost continually increasing. Our plan is to help take care of my parents and my in-laws as they age, but I know that my husband and I are not in a position financially to take on that type of annual expense when the time comes. Opening up the discussion will help us all transition into those years by having a plan of action.

Some helpful tools that are on the Let’s Talk website that can help in the discussion and planning are:

How to start the talk about long term care

Planning for long term care

Cost of care map

As a parent, I know that this topic is something my husband and I are going to discuss so we can make sure that when the time comes, our children will know how our long term care will be paid and what type of long term care we would like for us. It’s not an easy topic to think about, but ever since Jim’s stroke last year, we’ve been discussing these types of things more. The one thing we both agree on is that it helps to have a plan of action in place. Not only is it important for the individual, it’s also important for the loved ones around them.

The Genworth Let’s Talk Tour stopped at the Taste of Chicago earlier this month and here’s some highlights from the event:

The Genworth Let’s Talk Tour has a few more stops coming up, so if you are in these areas, be sure to stop by and see them for more information:

August 30-September 1: Los Angeles, CA

September 6-7: San Francisco, CA

October 2-5: Dallas, TX

Let us know how you are managing your long term care plans.

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