Do You Need Long Term Care Insurance?

Before deciding if you need long term care insurance coverage, you must first define long term care. Its a term that’s misunderstood by many individuals. Some people mistakenly believe that long term care needs are covered by their major medical. Usually they are not covered by group or individual health plans. Others believe that Medicare or Medicaid covers this type of expense. Medicare offers some coverage but there are rules and limitations. Medicaid is administered by the state and typically an individual must be impoverished (no longer own their home and have a very small amount of liquid assets) to qualify. VA covers some costs of long term care but indefinite care is only covered when 70% of the disability was service connected.

As baby boomers continue to age, the need for long term care continues to increase. Some experts believe that by 2018 one out of every two adults will be caring for an elderly person. Today, according to long term care expert, Thomas Day, almost 84 percent of long term care is provided by family, friends or volunteers. The cost of this would be about 313 billion dollars per year. There are many individuals pushing for our government to assume these costs but others believe that as the population ages this will be impossible. This would put long term care in the category with Social Security and Defense as far as spending. With our current deficit where are the funds supposed to come from?

Long term care can mean help with daily living chores such as dressing to skilled nursing activities, such as physical therapy. Nursing homes tend to define themselves by level of care and are licensed by the state. Therefore, there are variations from state to state and home to home. The last few years we’ve seen an increase in senior type living facilities. Some communities offer adult day care. Some individuals, as a way to increase their income and out of their concern for the elderly, have opened their own homes to the elderly basically boarding houses with a medical twist. Its understandable that the average person is confused by long term care options. Unfortunately many individuals are forced to learn the system when faced with a family medical crisis. My mother has been receiving long term care since 2005 and currently lives in an assisted living facility. Ive learned a little about health care for the elderly during this time and in my upcoming blogs Id like to try to demystify this subject for my readers.

Margaret Norton, a Personal Life Coach/Writer/Speaker, resides in St. Peters, Missouri.

(photo credit: eggybird)

April 8th, 2009 by admin | Posted in Long Term Care | Comments (0)

What Is Long Term Care?

An individual needing assistance with physical or emotional needs over an extended period of time is defined as needing long term care. Typically this is due to a terminal illness, disability, sickness, injury or old age. Help is needed in the areas that a normal, healthy individual takes for granted.

The areas they need help with can include personal things such as bathing, dressing, or eating. If the individual remains at home help might be needed with household chores, yard work or laundry. Often individuals needing long term care are no longer able to drive and need transportation for doctor visits, to purchase groceries, or run errands. Sometimes it is difficult for these individuals to read or write and they require assistance with bill paying, letter writing or managing their personal affairs. Depending upon the illness, they might also require medical treatment, nursing visits or therapy.

The experts estimate that 60 percent of U.S. citizens will need long term care at some point in their life. According to the latest census bureau figures, 22 percent of individuals over the age of 65 are receiving long term care treatment. Thirteen percent are receiving care through the community with an average stay of two and one half to three years. Twenty percent are confined to nursing homes with an average stay of a little over two years. If there’s a choice, most individuals prefer to remain at home. Sixty seven percent are receiving home care services averaging between three and five years.

With these odds, its important for everyone to know more about long term care options. Even if you never need this type of care yourself, its very likely that someone you know personally will. Its estimated that fifty percent of baby boomers will be caring for an elderly parent in the next ten years. In my next blog, Ill explain custodial care and skilled care.

Margaret Norton, a Personal Life Coach/Writer/Speaker, resides in St. Peters, Missouri.

(photo credit: ccdoh1)

April 7th, 2009 by admin | Posted in Long Term Care | Comments (1)