Long-Term Care is one of the retirement community’s most significant concerns currently surging throughout the United States now that people are living longer. It is common or normal as people age to need help with everyday activities of daily living. Long-Term Care is custodial help with basic activities essential for daily living and quality of life, such as bathing, dressing, eating, toileting, continence, and transferring. Generally, individuals requiring Long-Term Care are not sick in the traditional sense but cannot perform at least two out of the six activities of daily living. Ability, not age, is the determining factor in the need for Long-Term Care.
Long-Term Care is usually not covered by Medicare. The misleading Medicare benefit of the available 100 days of skilled nursing and the home health and hospice care benefits provide a false sense of security for most seniors. If the care required is considered custodial, the skilled nursing, home health care, and hospice benefits outlined in Medicare will not pay for this type of care.
The impact associated with the expense of Long-Term Care usually falls upon one’s life savings, retirement benefits, or any other form of income before any form of government aid or assistance will be considered. In other words, the complete depletion of any means or source of income. Most of the time, the responsibility for the expenses associated with Long-Term Care will fall into the laps of family members or loved ones for many people. By default, they usually become the caregiver to help rein in some of the expenses associated with Long-Term Care.
Long-Term Care insurance can help pay for some of the costs associated with Long-Term Care. When buying Long-Term Care insurance, the first decision is to find the desired benefit period with an appropriate monthly benefit amount and a suitable elimination period. Finally, policies covering in-home care, nursing home care, and assisted living facility care are more desirable. Restricting the type of Long-Term Care is typically not beneficial for most people. At the very least, ensure the appropriate services are in the contract of the Long-Term Care policy. It is also a good idea to ensure your policy covers room and board in a nursing home. Remember, Long-Term Care should provide people with a sense of independence and comfort, promoting healthy, happy healing and continuity of care.