- Why Do I Need Health Insurance?
- What to Look For in Healthcare
- Saving Money On Healthcare
- Blue Cross Blue Shield Plans
- Why Blue Cross Blue Shield?
- Health Savings Accounts
- Short Term Plans
- Dental Care
- Insurance For Students
- Insurance For Small Business
...More Info About Long Term Care (LTC)
Long term care (LTC) is care for the chronically ill, disabled, or senior citizens who can't perform daily tasks without assistance. Most long term care providers offer care for people in their homes or in assisted living communities.
Long term care can also be provided for people who have been injured and may need care for a significant period of time to get better.
Many will need long term care at some point in their lives - and it can be very expensive. Long term care insurance helps pay for those expenses.
How Many Need Long Term Care?
9 million people age 65 and older will need long term care in 2006, according to the Centers for Medicare and Medicaid Services. And that estimate rises to 12 million by 2020.
A study from the U.S. Department of Health and Human Services finds that when a person turns 65 they have a 40% chance of requiring assisted living. Of those, there will be a 10% chance of needing care for 5 or more years.
What Are The Different Types of Long Term Care?
There are a few different types of long term care that can be covered with an LTC insurance plan.
- Skilled care. Skilled care is provided on a daily basis by nurses and physical therapists. This care is specifically to help improve a patient's health.
- Intermediate care. This is similar to skilled care, but is provided less often - typically 2 or 3 times a week.
- Custodial care. Custodial care refers to the assistance for daily tasks that may be difficult to perform alone. Assistance with dressing, bathing, and getting in and out of chairs and beds are examples of custodial care.
Will Medicare And Medicaid Cover My LTC Costs?
Government programs like Medicare and Medicaid won't cover all of your costs for long term care. There are restrictions with both programs.
- Medicare will cover only certain approved necessary and temporary skilled care costs. And it won't pay for any custodial care.
- Medicaid will only benefit those that qualify, and have no resources to pay for long term care. And only certain long term care providers will accept Medicaid patients. So finding a convenient care provider with Medicaid may not be easy.
That's why long term care insurance is a good alternative. With a long term care policy, you can have the care you need.
The best way to find a long term care insurance plan right for you is to have plenty of choices. With our free quote service, we'll help you find options and make an informed decision.
