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Understanding Long-Term Care

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Frequently Asked Questions on Long Term Care InsuranceFrequently Asked

Long-term Care is a topic that is on the agenda of most middle aged and aging individuals however, it is also a topic that many are under or mis informed regarding. Major topics such as understanding what is even considered Long-term care all the way to the average costs of Long- term care, can often go un researched by many. Asking important questions and being as informed on the topic as possible can help you plan for your future more effectively. When discussing Long-term Care, our goal is that you will become as knowledgeable on the subject as possible so that you are then able to plan for your own future care with ease and confidence instead of grief and confusion. Compiled below are a few commonly asked questions regarding Long-term care:

What is Long-Term Care?

Long term care refers to any help you may require meeting your own personal needs. These needs can be referred to as ADLs(activities of daily living) and they extend to eating, dressing, toileting, continence, bathing, and transferring. Differing circumstances may be responsible for why individuals may require assistance with these activities. People with Alzheimer’s or other chronic conditions will often require this type of ongoing assistance as well as people who can no longer drive and/or posses declining mobility.

Where Does One Receive Care?

Long-term care services are offered in many different forms of care, these range from community programs such as adult day care, nursing homes, and all the way to in home services. In fact, most people receiving care live at home with only a smaller percentage receiving care within a nursing home. Many individuals require assistance getting out of bed as well as to and from the toilet around their own home.

Can I lower my Chances of Needing Care?

It is important we take as best care of ourselves as possible however, even then some of will still require long-term care. Common diseases associated with aging such as arthritis and osteoporosis can increase these chances. Less predictable factors such as accidents can also put us at risk of needing care at any time. Risk factors aside, you still can and should take certain measures to help decrease your risk of needing care. It is advised you practice good health through regular exercise and good nutrition to help fight against age deterioration.

What is the Cost of Care?

The cost of care will vary depending on where you receive care from both a geographical and physical standpoint. The costs of someone receiving care in California may vary from the costs of care in Chicago and similarly so the cost of a nursing home versus  a live-in companion. Nursing home costs have been seen to range from $130-$200 a day. Live-in care can cost $150 or more a day and a home care giver can request an hourly rate of $26. All of these rates are subject to change dependent upon varying situations and needs.

What is Long-Term Care Insurance?

Long-term care insurance is coverage designed to pay benefits for expenses associated with your Long-term care needs defined above. Long-term care insurance can help cover costs within residential care facilities, nursing home facilities, personal care, home health care, hospice, day care, homemaker services, and respite care.  Different policies will determine whether or not they will pay for some or all of these services and a preliminary health screening is usually required before coverage is offered.

If you or someone you love is interested in Long Term Care or Long Term Care Insurance be sure to visit: LTC TREE for more information.

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