An October Oreo

A few weeks ago, one of our bloggers, Kat, used a term I hadn’t heard before to describe being in the middle of caring for children and caring for aging parents – Oreo.  Ironically shortly after posting that blog I got a huge dose of exactly what it meant to be inside the Oreo.

My mom, who recently moved to SE Florida to be closer to our family, had a series of falls that triggered a hospital stay and a requirement for her to move into an assisted living facility.  In the course of four days I had to research, visit and choose a place for my mom AND move her in.  It has been one of the most difficult things I’ve ever had to do. My son even flew down from Michigan to help because it was so overwhelming.  Together we had to pare down her 74 years of belongings to fit into one small bedroom.  I knew she wasn’t going to be happy, but for the first time in my life I had to be a parent to my mom to keep her safe. 

My mom has always been a very responsible person – she has plans for after she passes, making sure that her family doesn’t have to worry about planning a funeral or paying for final expenses.  But what she didn’t consider is what would happen if she could no longer care for herself.

The costs for long-term care facilities, like assisted living or skilled-nursing homes, can be extremely expensive going way beyond what would be covered by medical insurance or Medicare.  What is needed is something to fill the gap, like Long Term Care insurance.  Many people don’t see the value in purchasing Long-term care insurance, until it is too late. However, over 42% of people will need some form of care at age 65¹.  That is a big number.  The need for Long-term care planning is real. The best thing we can do is educate ourselves on the risks and the options available.  At Tropical Financial we partner with CUNA Mutual Group to offer guidance on this widely misunderstood topic. November is Long-Term Care Awareness month, so that is even more reason to look into this important topic today. 

Looking back a few years, when my mom took care of her final arrangements, I wish someone had told us about looking into Long Term Care insurance.  Maybe then being inside the “Oreo” would be much more comforting…like an Oreo should be.

^Amy

¹ Source:  American Association for Long-Term Care Insurance, 2012-2013 LTCI Sourcebook, www.aaltci.org