There is a misnomer leading everyone to believe that there will be others to take care of your elderly parent. Take for example the expression "Elder Care" or the website A Place for Mom give the impression that you can just pick up the phone or make a click to find that someone or someplace that is going to be caring for your aging parent. The industry is misleading you when they talk about home care agencies or visiting aides. These services just don't automatically show up one day. Someone will need to be responsible for coordinating their visits, making decisions and managing stuff - that person is going to be you! .
Another fallacy is "long-term care insurance policy". Again, you are being lead on. This is not like car insurance - you have a fender bender, call State Farm, they send out an adjuster, send you off to one of their approved body shops, the repair is made and you get a check. Long-Term Care Insurance does not work this way. It does pay for care, but it does not manage it. Someone will have to take on that responsibility and it will be you.
We know what you are thinking. None of this is really happening. My parents will move into an Assisted Living Facility. This is just a marketing ploy to get me to use their website. We are sorry to say, it is all very real! The eldercare industry and aging experts got it wrong! It costs $10K to $15K per month for someone else to be caring for your parent. Unfortunately most parents don't have the funding for this and it is no longer the trend. Your parents don't want to be placed in assisted living facilities. 90% of individuals say they would rather age in place and this is now where the problem lies. There are not enough resources available for this. Check out this recent article. https://www.statnews.com/2019/04/09/home-health-aides-low-wages/
I'm sorry to say but the managing of your parents' future care lies within your future as well. Don't be blind, be better prepared. The issues are real. We are real. We are here to help you become better prepared for this stage of your parent life. Visit www.agingparentsmangement.com at anytime on your journey. Coming soon AgingParentsMarketplace.com to to find and design help the way you want it and need it - post "jobs" and helper needs here.