Long Term Care Needs and Plans
Long term care plans vary according to every individual’s specific healthcare needs. One might need nursing home care someday, whereas another person may not. Given this fact, your health definitely plays a vital role in the plan that you make for your long term care (LTC).
There are different types of LTC settings and each offers services that address specific healthcare needs. For instance, in-home care is normally designed for people who do not require medical care but assistance in their day-to-day activities such as bathing, toileting, dressing, and eating, among others.
In-home care is also normally inclusive of homemaker services which comprise meal preparation, house cleaning, and laundering but the rate for this type of LTC is different from that of a home health aide who is responsible for providing assistance in the activities of daily living (ADL) such as those cited earlier.
An assisted living facility is another kind of LTC setting but this one houses a professional staff of caregivers who are responsible for providing personal care and administering medication to patients who are under medical care.
Assisted living facilities are unlike nursing homes as they do not provide patients with 24-hour monitoring. Senior folks who want to maintain their independence in an environment that promotes socialization will love to be in this type of LTC facility.
Then we come to nursing homes that offer 24-hour monitoring and care to patients with chronic illnesses and those who are recovering from serious injuries. Nursing homes provide physical and occupational therapies, ventilators and many more that is why this type of LTC facility is very expensive.
Strategic Long Term Care Plans
Long term care costs continue to soar that is why everybody in the country is encouraged to plan his future healthcare needs. As a matter of fact, LTC can cost you your lifetime savings should you acquire it one day unprepared.
Just like with buying a house and car, your long term care plan should be discussed with your family because it will affect every member. For instance, if you have children who are still in school and you suddenly come down to a serious health condition that requires LTC how can they possibly continue their education if you’re going to use your money on a nursing home?
As rates of LTC services step up, the only way that you can afford them is through a qualified long term care insurance (LTCI) policy. Your bank savings, house, and even retirement savings won’t be enough to cover your LTC expenses because of the obvious fact that all the figures in the LTC industry are never constant.
Fifteen years from now, a nursing home that has an average annual rate of $77,745 will cost $155,490 a year as LTC costs are projected to double according to financial planners and experts on the field of LTC.
Everybody in the country is continuously reminded to formulate effective long term care plans in order to avoid losing whatever it is that they have worked so hard to acquire. Many people have already lost properties and gone impoverished due to LTC costs so spare yourself.
Are you a baby boomer looking for long term care plans? To get the best possible policy, research and compare different long term care quotes at CompleteLongTermCare.com.
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