Long Term Care
Long Term Care
We work with the highest rated carriers in the industry. They include:
||New York Life
|Mutual of Omaha
||United of Omaha
- Have you thought about the fact that a long term care event could have a substantial impact on your life
- Can you realistically protect your retirement assets and income while covering long term care costs of over
$100,000 per year?
- Did you know that, according to government statistics, over 70% of people over age 65 will require some long
term care services?
- What is your plan?
Let us show you your options, and be an advocate for you and your family.
Click to see ways of paying for Long Term Care
Long Term Care Insurance
When you become incapacitated, due to either illness or injury, and you are no longer able to care for yourself, you
will need Long Term Care. To receive the benefits of your policy you may experience cognitive issues (such as with
Alzheimer's disease) or have difficulty with two of the six Activities of Daily Living (eating, dressing, toileting,
bathing, transferring, and Continence).
Who needs long term care?
- Women, because they outlive men, face a 75% greater likelihood of entering a nursing home after age 65.
- Family and friends are the sole caregivers for 70% of elderly people and most will be cared for at home.
- People age 65 or older face at least a 40% lifetime risk of entering a nursing home. 10% will stay more than 5
- About 55% of those age 85 and older are impaired and require Long Term Care.
Common misconceptions about Medicare and Medicaid
Medicare: People that are over age 65, or permanently disabled, receive Medicare. Medicare will only pay
for benefits at the "skilled" level of care. It does not pay for adult daycare, assisted living, or any other long
term medical service. If you require skilled care such as a nursing home, only the first 100 days are paid for by
Medicare. For Home Care, Medicare will pay (on average) 20 days at 3 hours per day, and only at the skilled level of
Medicaid: Each state has to have it's own qualifications. This program is meant for the indigent. There is no
guaranteed placement in a nursing home and there may be a long waiting list for any type of facility placement. You
lose total control of your own care.
Understanding Long Term Care
Home Care: Help can be as varied as providing medical care, to meal preparation, to shopping, etc. If
you are terminally ill then hospice care would be included.
Community Services: These support services can include senior centers, meal plans, adult daycare,
Assisted Living Facilities: These facilities provide 24-hour care and help with Activities of Daily Living.
They can also provide socialization and recreational activities. These are very popular facilities nowadays.
Nursing Homes: If a person is unable to be cared for at home, then a nursing home may be the appropriate place
for skilled nursing services, rehabilitation, assistance with ADL skills, meals, etc.
How do I pay for these services?
Generally, health plans do not cover home health care or nursing home care. These services can become very
- Medicare - see above.
- Medicaid - see above.
- Private Insurance - In 8 out of 10 couples aged 65 or older, at least one spouse will enter a nursing
home. These policies cover home health care, services in facilities such as adult daycare, assisted living
facilities, and nursing homes.
- Personal Resources - Cashing in Life Insurance policies or simply your savings may be necessary when you
need to pay for long term care. Often times people pay out of their own pocket when they first enter a nursing
home, but personal assets are often drained quickly. They will eventually become eligible for Medicaid.
How to choose the best quality of service and facility:
- Many states require a license to run a home health care agency. If your provider is not licensed, be wary!
The agency should be certified by Medicare. This means that Medicare inspects the agency to make sure they meet
certain Federal health and safety standards.
- If the agency is certified by Medicare, you can call 1-800-638-6833 and ask to be referred to the Home Health
Hotline for your state to be able to review the survey report.
- You can find out if the agency has been accredited with a "seal of approval" by a group such as the Joint
Commission on Accreditation of Healthcare Organizations (630-792-5800; www.jcaho.org)
or the Community Health Accreditation Program (1-800-669-9656; www.chapinc.org).