Elderly citizens in Michigan may soon see more options for long-term nursing home care. State health officials plan to file for approval of a system that aims to better manage long-term care for seniors who are eligible for Medicare and Medicaid.
In the case of America's population in general, and Michigan's especially, statistics show that people are living longer. Michigan's population percentage of people 65 and older is greater than the national average, according to the 2010 U.S. Census. What the statistics don't show is that not everyone is preparing for this new reality in their early-life estate planning.
The latter years of life, lovingly dubbed the "Golden Years," aren't always as easy as they should be. Unfortunately, many people reach these late-in-life years only to discover that a lack of long-term planning has left them unable to pay for the care they will need to combat failing health. While it is natural for one's health to deteriorate with age, for some people failing health is a more serious concern than for others. That is why planning ahead for necessities like long-term care should be considered vital to maintaining a good quality of life, not only for residents of Michigan, but for people all over the United States.
Michigan residents who are considering long-term planning may be interested in a recent report by the Wall Street Journal. The report highlights the fact that the United Auto Workers Union (UAW) is short on funds. This means that the group's retiree healthcare trust fund is in jeopardy, making the process of long-term planning for auto workers that much more important.