We have an extended family member in the hospital. She is older and has some medical coverage, but her health is really beginning to deteriorate. All of her children are grown, and have been helping as best they can, but they work full-time too. This leaves her unattended for long stretches of time, which is no longer a viable option.
As noted in Ann Carrns article, Buyers of Long-Term Care Insurance Prefer Home Care, her concern and the concern of her children is not whether or not her Long-Term Care can cover her costs in a nursing home, but rather if it can cover her medical costs outside of one. She has long since given up her own home and takes turns (by choice) living with her children, and that is what she would like to continue to do. Her family is all for it, if she has assistance during the hours they are not able to be present in the home with her. That means it's time to pour over her long-term care policy and see what it does and does not cover.
If you do not have a policy, or are looking to switch or improve upon an existing one, looking to Genworth for information, clarity, and/or your current or potential coverage needs makes good sense. No one wants to shoulder the high cost of medical care alone, nor do they want to burden their loved ones with such a responsibility, and a long-term care plan can certainly help. The earlier you have a plan in place, the better, and you want to make sure you're setting up the plan you really want, need, and can afford. Genworth can help you sort through the sometimes complex information and gain a better understanding of what type of policy would work best for your individual situation or circumstance.