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Long Term Care in 2011

Thu, 11/08/2001 - 1:00am — Karen Stevenson
Description: 

Having spent nearly 20 years working with long term care and watching the way that it has evolved, I've decided to get out my crystal ball and offer some predictions about how long term care will be paid for when the Baby Boom generation needs help. In 2011 the first wave of that group will turn 65, and by 2021 they'll be turning 75. Few Baby Boomers understand what sort of long term care they might need and who will pay for it. Worse yet, even those that understand how the system works today probably have not considered what it may look like when they need it, a critical issue when deciding whether to buy long term care insurance or set up a savings plan to pay for these costs.

Having spent nearly 20 years working with long term care and watching the way that it has evolved, I've decided to get out my crystal ball and offer some predictions about how long term care will be paid for when the Baby Boom generation needs help. In 2011 the first wave of that group will turn 65, and by 2021 they'll be turning 75. Few Baby Boomers understand what sort of long term care they might need and who will pay for it. Worse yet, even those that understand how the system works today probably have not considered what it may look like when they need it, a critical issue when deciding whether to buy long term care insurance or set up a savings plan to pay for these costs.