What is Long Term Care?
Long term care is any care an individual may receive for an extended period of time due to an illness, injury, cognitive impairment, or even old age and frailty. Care can be received in a variety of settings including home health care, nursing home care, community based living, adult day care, assisted living, adult congregate, alternate care and hospice care facilities.
Why has the need for long term care increased?
People are living longer.
Long term care costs are rising.
Families are more spread out geographically and are not always available to provide care.
Women, usually the primary caregivers, now work outside the home.
What does Medicare pay?
Pays only pay for "medically necessary" charges in approved facilities.
Pays only after 3 consecutive days of hospitalization.
Pays only for skilled or rehabilitative care. Custodial care, the most widely needed type of care, is not covered.
Pays only up to 100 days. Medicare will not cover ANY care after day 100!
If not Medicare, who pays for long term care?
Individuals pay for the cost of care out of their hard earned savings.
Medicaid (welfare) once poverty guidelines are met.
Long Term Care Insurance, a solution more and more people are turning to as they learn about the risks they face.