The Greatest Catastrophic Event this country will ever see!By: The-pr-pros Sept. 9, 2014 - PRLog -- Since January 1, 2011 this country has started to experience the greatest catastrophic event this generation will see. That is, since January 1, 2011 there will be an average 10,000 people turning 65 each day. This event is estimated to last almost 19 years and will affect everyone. With over 313 million Americans, there are only about 8 million people that have some type of long term healthcare coverage according to the American Association for Long-Term Care Insurance.
With such a low percentage of people without any type of protection, it’s hard to believe that this event in our nation’s history wouldn’t affect everyone. With the Census Bureau currently projecting that the baby-boom population will total around 61.3 million in 2029, that is when the youngest boomers reach age 65. With a growing number becoming older and with advances in healthcare along with medicine, people are living longer and are now experiencing loss of more A.D.l’s (Activities of daily living) more people have become more reliant upon family, friends or even a caregiver in order to do common household activities that they no longer are able to do. One thing that needs to be addressed is, how does this affect everyone? This is quite simple with such a huge influx of people looking to seek some type of long term care. According to data compiled by the Social Security Administration: 1. You will become your parents' caregiver (burden falls on you and your family extra person to feed might need 4-8 hours of help each day, medicines, etc.) 2. You will spend down all your money to pay for care and leave nothing to anyone. 3. Medicaid-You will not have any money to pay for any type of care and with end up seeking assistance from Medicaid. In return, this program might become too burdened with this generation and might have to make changes with taxes or qualifications. 4. Long Term healthcare insurance for the small percentage who saw a potential need to relieve not only themselves of the worry of their long term heath, but also their children. The biggest question that needs to be answered is, how can we prevent a huge catastrophe? Josh is frequently seen in FOX, ABC, and CBS Money Watch. In his years as a California Insurance Agent, Joshua has seen the lifelong impact of retirement preparation – or lack of preparation— Ca Insurance Lic# 0H14287 End
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