Long Term Care

It is important to have a plan to execute if you become unable to work or take care of yourself over a considerable period of time. If you were to have an accident or become critically ill, you may be forced to make a drastic and complicated decision. Perhaps, it would be the time to consider long term care for you or your family member. Despite, the controversy and initial devastation, this adult long term care affords the opportunity to live with less pain and stress.

Long term healthcare is crucial when you are unable to take care of yourself; to implement the daily adult living skills (ADLS). During your life of illness, injury or aging, long term care may be the answer for the remainder of your life. The healthcare also exceeds the essentials of medical and nursing care. Meaning, it also provides all the assistance that is required for any chronic illness or disability. Unfortunately, many Americans are not prepared for future long term care needs. Therefore, you would have to accommodate the financial burdens of such care. The average cost that you are expected to pay just for one year in a nursing home is nearly $50,000 and growing. Unbelievably, a lifetime of retirement savings can be depleted by an unexpected need for nursing home, assisted living or even at- home care. It has been reported that after the age of 65 an average of 43 of 100 people will reside in a nursing home. That is about 1.5 million people. Coincidently, only 40% of the cost for long term care is paid by the Federal/State Medicaid program.

Unfortunately, there are potential and significant financial risks that you will encounter during the pursuit for long term care. Therefore, you are encouraged to protect yourself at all times. Although nursing homes are the most prominent choice of long- term healthcare, there is a range of services available that help meet senior long term care needs. Such services include visiting nurses, home health aides, friendly visitor programs, adult daycare centers, community long term care centers and respite services. Generally, the amount you spend will depend on the actual level of service that you require and the length of time of care. Receiving care in the home is somewhat less expensive, however the expenses still accumulate. Bringing aides into your home throughout the week may cost an average of $100 each month. Additionally, assisted living facilities charge around $2000 monthly.

Ironically, the government does not contribute much to long term care for the elderly. Overall, Medicare nor Medicaid cover this level of care. Medicare is responsible for only about 12% while Medicaid offers almost half the cost. In lieu of these disappointing statistics, you must seek long term care insurance coverage for leverage. Obtain a policy that guarantees at least one year of nursing home or health care coverage. This is to have a reliable resource for care if ever needed. Having an appropriate long term care insurance policy offers a peace of mind as well as a significant improvement in the quality of life for you the policy holder and the families.

There are general guidelines that one should adhere to when deciding upon a long term care facility. You should be aware of the specific needs of the individual that requires long term care. If you or your family member is currently hospitalized, you should receive assistance from the discharge planner and/or Social Worker. If you are currently at home, you must request referrals from your personal physician, Area Agency on Aging, friends and family. Of course, it would be necessary to consider other factors such as location, cost, quality of care, services, religious and cultural preferences and the accommodations for specific needs. Finally, be sure to visit each center for long term care that you are considering; both scheduled and unscheduled. Make an appearance at different times and on different days of the week. Once a managed long term care has been chosen, you should educate yourself on the rights of you and your family members. It is inevitable that you may question your decision to place a loved one in a facility. However, you must consider your health and well- being as well as the financial burdens. Attempt to avoid any distress in case of a need for long term care by gaining knowledge and always being prepared.

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