Long Term Care in Edmonton
As a result of improved health care, people are living longer than ever. That’s good news, but for anyone nearing retirement, it can also mean financial disaster.
As many people in Edmonton are preparing for retirement, they are forced to face some harsh economic realities. The Province of Alberta has canceled the planned construction of nursing homes. The recent Health and Wellness budget failed to get a badly-needed increase. All this at a time when costs are rising and retirement is becoming more expensive than ever.
Within the next few years, more and more people will need some kind of long term care. Yet the cost of long term care facilities has more than doubled over the past few years. While some retirees have counted on the government to meet medical needs, when it comes to long term care, the reality is a waiting list of up to three to five years, outdated facilities, reduction in services and no choice of location. .
Private long term facilities offer better conditions and considerable less waiting time, but the cost ranges of $2,500 to $7,000 per individual.
Fortunately, Long Term Health Insurance is now available to Canadian seniors. Many in the insurance and eldercare industry consider this introduction one of the most important steps in many years.
Long Term Care Insurance can help someone take control of health problems and personal care services. It picks up the cost of health and personal care services when a person cannot perform all of the necessary activities needed to function on a daily basis, including bathing, cooking, eating, dressing and shopping. Payments are made to the insured whether he or she is living at home or in a long term care facility.
The current health care crisis will not go away. The number of Canadians over the age of eighty is expected to double in the next twenty years. Long Term Care Insurance is the best way to insure that those retirement years are spent in comfort and with dignity.