The older American population has skyrocketed as baby boomers turn 65. According to the US Census report released in May 2014, the aging population will nearly double from the 2012 level of 43.1 million to 83.7 million by 2050. Among the millions, there will be many who will need care long-term. Who will provide that care if you need it?

What care might you need? Did you get out of bed this morning, did you rush to the bathroom? Did you bathe and get dressed? Did you feed? These are the “acts of daily life” that we do every day without thinking about them. Insurance companies define acts of daily living as transferring, going to the bathroom, continence, bathing, dressing, and eating. When you are unable to do two of these activities, you may qualify for long-term care.

I often joke as a mother of four children, one of my children will take care of me. Hopefully this will be the case. I have been diagnosed with osteoporosis and arthritis and do not qualify for long-term care insurance.

I am an insurance agent who sells long-term care insurance. Unfortunately, I have received calls asking about the policy from a parent who has had a stroke or some other health problem that requires 24-hour care. Unfortunately, when you need long-term care, you don’t qualify for a long-term care policy. So prepare yourself! Explore your options.

Medicare and Medicaid, “entitlement programs of the government,” will pay for your health care, but they are not designed for long-term care. However, Medicaid will pay for a nursing home if your assets are less than $2,000.

Here is a short list of other options you can explore:

* A traditional long-term care policy

* A universal life policy with a long-term care clause

* A reverse mortgage

*Self insurance

What kind of care would you like? Do you want to be cared for at home, in an assisted living facility, or in a nursing home? Visit nursing homes and assisted living facilities in your area. The costs may surprise you. Investigate the cost of a home health aide or babysitter who can prepare meals and clean your home. Use this data to estimate the dollars needed to maintain the style you’re used to.

Keep your golden years golden for you and your family and friends. That old adage, “If you don’t prepare, you prepare to fail” rings true in this situation. Hopefully, we will live out the last years of our lives in good health and conclude them with a peaceful death in our own beds. But if not, you have a plan.