Two Cedaredge businesswomen were invited recently to give a presentation of their professional knowledge at the Senior Law Day seminar in Grand Junction.
Phyllis Hoffman and Scharee Atchison were among those who addressed the assemblage that totalled an estimated 400 people during the full day of seminars on various topics. Their topic addressed "myths and facts" about long-term care issues, Atchison told the DCI.
The annual Senior Law Day event was held this year on June 17 at Two Rivers Convention Center. "It is managed by Colorado Legal Services in cooperation with the Colorado Bar Association with the goal of providing legal resources to seniors and caregivers," Atchison told the DCI.
"Greater longevity, advances in medicine and medical science, means that our society will continue to age. Baby Boomers are now turning 65 at the rate of 10,000 per day," Atchison and Hoffman point out.
Their presentation at the Grand Junction conference helped educate professionals who deal with senior issues, including lawyers, about issues that are current and arising in the field of long-term care, and about ways of covering its costs.
"Seven out of ten of us are going to require a period of extended care before we die," they say. "At present, this risk statically spans an average of three years with the cost of care ranging from $92,000, to $276,000 annually."
They advise that it is best to start planning and examining options early in order to provide for long-term care. "Since health qualification is a hurdle that confounds a good number of applicants, it is best to look at this coverage as early as age 40. Younger ages not only bode well with passing underwriting criteria, but also keeps premiums at a very modest level."
Hoffman and Atchison represent Western Slope Long Term Care Solutions of Cedaredge.