FOR IMMEDIATE RELEASE

Contact: 
  Gabrielle Gelo, CLTC
ACSIA Partners LLC
gabrielle.gelo@acsiapartners.com
210-592-9887

Longevity  Alert: As America Ages, Long-Term Care Costs Could Overwhelm Most Families, Gabrielle Gelo of ACSIA Partners LLC Says
We  need to gear up for the burgeoning care needs of an aging population; working  Americans will bear the brunt of the costs and obligations.

San Antonio, TX August 14, 2017 -- The  number of Americans age 65 and older is on track to double -- from 46 million now  to over 98 million in 2060, when today’s 20-somethings will be turning 65. At  that time the 65-plus age group’s share of the population will have jumped to  24% from 15% today. “Think of it,” says  Gabrielle Gelo of ACSIA Partners LLC, “one  in four of us will be in the older group, at high risk of needing long-term  care.”

The  concerning statistics are from “Aging in the United States,” a study published  by the Population Reference Bureau (PRB).

The proliferation  of older Americans places a big burden right now on all breadwinners in their  prime productive years (20 through 65), Gelo asserts. According to the PRB, by  2030 there will be only 2.8 working-age adults for every person 65 and older, down  from 5.0 in 2000.

Because  of this, today’s working-age citizens, now building our economy and their own  economic futures, will be hit by a double-whammy, according to Gelo.

The first  part of the double-whammy has to do with one’s aging parents. According to the  U.S. Department of Health and Human services, almost three in four aging Americans  will need some form of long-term care after 65. “For a working couple with two  sets of parents, the odds of financial impact are very high,” says Gelo, “if any  of the parents lacks the resources for their own care.”

The second part of the  double-whammy is that the younger couple may need long-term care services  themselves at some point. “After dealing with mom and dad, they’ll need to be  ready to care for one another; or to pay professionals to do it.” 
Long-term  care services can be expensive, costing from tens of thousands to $100,000,  $200,000 or even more per year, depending on location, type of services, and  type of claim. Multiply that by the number of family members needing care, and  the cost can become prohibitive.

But the  financial impact extends beyond care costs. It often involves income loss from  interrupted employment as well.  According to a study by the MetLife Mature  Market Institute, America’s 10 million employed caregivers face $3 trillion in  lifetime losses for missed pay, pensions, and social security. That amounts to  $304,000 per worker (typically the female half of a young couple).

“Long-term  care has always been expensive and a key cause of impoverishment in one’s later  years,” says Gelo. “As America ages, the cost challenge promises to increase.”

What  can be done about it?

“Forward-looking  public policy would help,” says Gelo. “But there’s plenty people can do on  their own.”

“The  key is to develop a long-term care plan,” Gelo continues. “It’s especially important  for today’s younger, productive couples. It’s the only way to control costs and  head off avoidable threats to one’s income, assets, lifestyle, and future.”

Long-term  care planning can be done independently but Gelo recommends consulting a  licensed professional. “The process is emotional and the options and pitfalls  are vast. You need a calm, collected professional to hold your hand.”

ACSIA Partners LLC has hundreds of state-certified long-term care professionals in all  parts of the country. “We’re glad to talk with consumers and business  executives about any and all care-related concerns and actions, financial and  otherwise,” says Gelo. “We develop plans for employer groups as well as  individual plans for families.”

Additional information is available from Gelo at gabrielle.gelo@acsiapartners.com, http://gabriellegeloltc.com/ or 210-592-9887.

Gabrielle Gelo, CLTC is a leading long-term care  agent  serving consumers and organizations in AL. AZ, CO, FL, NE, NH, NJ, NM, NY, PA, TX, UT, VA, with colleagues covering all other parts of the country.

In  California the company is known as xACSIA Partners Insurance Agency; in other  states, as ACSIA Partners.

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