1.)    What is Long-Term Care?

It is care that a person needs when he or she is no longer able to take care of him or herself.  It is a broad range of services that are expected to last at least 90 days.  It is care provided for a chronic illness which is a condition for which there is no cure.  Care that a person needs help with in order to get through the day because of an accident or illness.  It is help with what are known as ADL’s (Activities of Daily Living) such as eating; dressing; bathing; toileting, continence and transferring.

A person who needs supervision due to Alzheimer’s disease or dementia because that person may be a danger to him / her self or others would require Long-Term Care.

Long-Term Care could also include help that a person may need with IADL’s (Instrumental Activities of Daily Living) such as meal preparation; medication management; transportation to medical appointments; bill paying or basic household chores.

2.)     Why do I hear so much about Long-Term Care on television and in  newspapers and magazines these days?

Everyone has become aware of the aging population, the graying of America.  Baby boomers are planning for and approaching retirement age and at the same time they are dealing with parents who need to be cared for.  Care for those who are chronically ill is taking its toll physically, emotionally and financially on the designated caregiver.  It is a critical family that must be addressed.       

3.)    Why should this be a concern to me?

Health insurance does not pay for Long-Term Care for people under age 65 and 43% of all people receiving

Long-Term Care today are between the ages of 18 and 65.  For those over age 65 Medicare does not pay for Long-Term Care.  Medicare pays for short term skilled care only and is limited to a maximum of 100 days.  Care must be received in a post acute skilled nursing facility after certain criteria have been met.  Medicare will pay for short term intermittent skilled care in the home (the person must be homebound).  This could include physical, speech or occupational therapy.

4.)    What are the chances of me ever needing Long-Term Care?

The chance of a female over age 65 needing Long-Term Care is 50%.  The
chance of a male over age 65 needing Long-Term Care is 33%.  The average length of care is approximately 3 years at an average cost of $74,000. 

5.)    If  Medicare or health insurance do not pay for Long-Term Care who does?

• If you are rich you can pay for your Long-Term Care from investments.
• If not, you can ask your kids to pay for it, or you can have them take care of you.
• If your resources are limited you can have Medicaid pay for it and become part of the welfare system.
• Or, you can have Long-Term Care insurance, which will guarantee options and choices.

Long-Term Care insurance will allow you to access quality care in the private marketplace at the most appropriate level while protecting assets and retirement income.

A Long-Term Care insurance policy offers the following choices:

Care in your home; an assisted living facility; adult foster care home; adult day care; modifications to your home; hospice care; respite care; or any alternative to a nursing home as well as care in a nursing home. With the help of Long-Term Care insurance your family will be comforted knowing you will receive better care longer.

6.)  I don’t know that I like or even want any of these choices.  What should I do now?

The first thing to do is sit down with all members of the family and address the elephant in the room.  Start the conversation, open up the dialogue and write down what has been decided.  Make sure everyone knows the plan and is up to the task!  By not planning for your own Long-Term Care you have made the decision to make it someone else’s problem.  Make sure everyone involved is willing and able to accept the burden of responsibility.

Call Dorothy for your free no obligation consultation at 248-844-9787 or email Dorothy at LTCINSUSA@AOL.COM.