Why You Need Long-Term Care Planning

At least 70 percent of people over age 65 will require some long-term care services at some point in their lives. And, contrary to what many people believe, Medicare and private health insurance programs do not pay for the majority of long-term care services that most people need - help with personal care such as dressing or using the bathroom independently. Planning is essential for you to be able to get the care you might need.

What is Long-Term Care?
Someone with a prolonged physical illness, a disability, or cognitive impairment (such as Alzheimer's disease) often needs long-term care. Many different services help people with chronic conditions overcome limitations that keep them from being independent. Long-term care is different from traditional medical care. Long-term care helps one live as he or she is now; it may not help to improve or correct medical problems. Long-term care services may include help with individual activities of daily living, home health care, respite care, hospice care, adult day care, care in a nursing home, or care in an assisted living facility. Long-term care may also include care management services, which will evaluate your needs and coordinate and moniter the delivery of long-term care services.

How Much Does Long-Term Care Cost?
Long-term care can be expensive. The cost depends on the amount and type of care you need and where you get it. Here is the link you can get more detailed information related to the cost of long-term care: http://www.longtermcare.gov/LTC/Main_Site/Understanding_Long_Term_Care/Costs_Paying/index.aspx#CLTC.How.

How Pays for Long-Term Care?
People pay for long-term care in a variety of ways. These include: using the personal resources of individuals or their families, Long-Term Care Insurance, some assistance from Medicaid for those who qualify. Medicare, Medicare Suppliment Insurance,and the health insurance you may have at work usually will not pay for long-term care.

Who May Need Long-Term Care?
The need for long-tem care may begin gradually as you find that you need more and more help with activities of daily living, such as bathing and dressing or independent activities of daily living, such as household chores, meal preparation, or managing money. Or you may suddenly need long-term care after a major illness, such as a stroke or a heart attack. If you do need care, you may need nursing home or home health care for a short time. Or, you may need these services for many months, years or the rest of your life.

It is hard to know if and when you will need long-term care, but there are some statistics that may help. For example:
· Life expectancy after age 65 has now increased to 17.9 years. The longer people live, the greater the chances they will need assistance due to chronic conditions.
· About 12.8 million Americans of all ages require long-term care, but only 2.4 million live in nursing homes.
· The lifetime probability of becoming disabled in at least two activities of daily living or being cognitively impaired is 68% for people age 65 and older.
· By 2050, the number of individuals using paid long-term care services or skilled nursing facilities will likely double from 13 million to 27 million. This estimate is influenced by growth in the population of older people in need of care.

For more detailed information about your long-term care planning, please visit: http://www.longtermcare.gov/LTC/Main_Site/index.aspx.

Source from: NAIC long-term care insurance guide 2009.