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Call now and let us know you are with the NSPRA.
Tel: 877-647-8683 ext 1
info@seniorrodeo.com |
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Long Term Care( Click here to request
a quote ) |
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What is Long Term Care (LTC)?
Long Term Care includes a wide range of medical and support services for
people with a degenerative condition (e.g. Parkinson's, stroke, etc.), a prolonged
illness (cancer) or cognitive disorder (Alzheimer's).
Long Term Care is not necessarily medical care but rather "custodial care." Custodial
care involves providing an individual assistance with activities of daily living
or supervision of someone who is cognitively impaired.
To better understand Long Term Care, think of the activities that you performed
when you woke up this morning. You probably:
* Climbed out of bed
* Walked to the bathroom
* Used the toilet
* Used the bath or shower
* Got dressed
* Ate breakfast
While we are healthy it is easy for us to take for granted the above Activities
of Daily Living (ADL's). However, when you or a loved one is stricken with a degenerative
condition such as a stroke or Alzheimer's, performing these ADL's becomes impossible
without the assistance of another person.
This type of care is Long Term Care. It is the same type of care that a parent must
provide for their new baby. This type of care is chronic (full-time) and thus becomes
very expensive. Long Term Care can be provided in many settings including nursing
homes, your own home, assisted living facilities and adult day care.
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Why is there a need for Long Term Care?
Basically people are living longer. Due to advances in modern medicine
and life-style changes, the number of people over the age of 65 is projected to
double by the year 2050. Each year the U.S. elderly population continues to grow.
In fact, the 80-plus segment represents the fastest growing segment of the population
(they virtually never existed before).
Another reason for the recent public focus on Long Term Care is the changes impacting
families. Years ago, most elderly depended upon their family to care for them as
they aged. Family members lived close by or even under the same roof.
Today, many women are in the work force, children have moved away and divorce rates
are approaching 50%. All of these factors contribute to the inability of families
to meet the needs of their aging parents. Thus the elderly must rely on professional
assistance, which comes at a cost.
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What Do Long Term Care Services Cost?
"A year in a nursing home now averages more than $40,000 and can exceed
$100,000 annually in some parts of the country." - The Wall Street Journal 3/31/99
Home care is also expensive. Bringing a home health aide into your home every other
day for a 4 hour visit can easily cost $1800 per month. When the home care approaches
8 hour visits every day, the costs rise to $7200 per month. At this point, the care
recipient begins to receive facility based care simply for economic reasons.
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What is Long Term Care Insurance?
Long Term Care Insurance has been around in one form or another since the early
days of medicare. The policies during this time bear little resemblance to today's
policies. While early Long Term Care policies were similar to a basic Medicare supplement
policy, today Long Term Care insurance has evolved and typically covers a broad
range of services including nursing home care, assisted living facilities and adult
day care.
Like any insurance product, Long Term Care insurance allows the insured to pay an
affordable premium to protect an unaffordable catastrophic event.
Click here to request
a quote
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