LONG TERM CARE EDUCATOR
Expert advice and information on Long Term Care
Real Life & FAQ's
Q. Does Medicare and/or health insurance pay for long term care?
A. No! Medicare and health insurance pays only for short term acute care situations not long term chronic care. This is one of the largest gaps in coverage many people do not learn about until it is too late.
Q. My kids say they will take care of me – isn’t this enough?
A. Many families participate in care. However, this sometimes creates undue hardship and financial burden on those that can ill afford it. The increasing demands of career, children, finances, and caring for aging parents can impact a child’s life so dramatically they may never recover. Wouldn’t you rather plan for and protect yourself and your children so you can leave a legacy of love instead of stress and hardship?
Q. How much does it cost to pay for Home Health Care or Long Term Care services?
A. The costs in the greater San Antonio area range from $25,000 to $55,000 per year per person. These costs are expected to double in ten years due to the baby boomer population aging. Most people would deplete their hard earned retirement savings within a very short period of time if they had to self fund a Long Term Care event.
Q. I will never need care. I am very healthy. Why should I bother with Long Term Care planning?
A. The Health Insurance Association of America says the risk is 2 in 5 you will have a Nursing Home stay in you lifetime. Are you willing to leave a 40% risk to chance? The odds of your home burning down are not this high. Yet, most people would not dream of leaving this valuable asset unprotected.
Q. Shouldn’t I wait until age 65 or older to start thinking about Long Term Care coverage?
A. Long Term Care Insurance is purchased with your health not money – it is important to apply before you have any chronic health conditions. Waiting until you need the care is like asking for Homeowners insurance coverage while the house is burning down.
Q. How do I know how to design a plan that is right for me?
A. Take time to sit down with a professional and review your individual situation. Many variables are considered when doing this type of planning and you need to know what options are available. With the proper advice and education you will make some very informed decisions which will result in piece of mind for you and your family.
NONE OF US THINKS IT WILL HAPPEN TO US!
Here are some real life stories of folks who thought the same thing.
George promised his Mother, Jane he would always take care of her. She never worried about her old age and planning for long term care. She was sure she had a plan in place because George was so young and healthy. He was a hard worker with more than enough income to take care of him and her. She moved closer to him when she was in her late 60's but was still working and very active. The years went by and all was well until one day when she was in her late 70's she received horrible news! George was in an accident and not expected to live. She rushed to the hospital to be by his side. His injuries were very severe and he was in a coma. Miraculously, George lived. He was transferred to a nursing home and received rehabilitation. Jane was there for him praying and hoping he would recover and be her George again. Sadly, he never fully recovered and remains bedridden three years later. Jane could not bear to keep him in the nursing home so she bought him home to her house and now is his full time caregiver. Jane was very concerned about her advancing years and the fact that ironically the tables were turned and she had no plan for herself should she need care, in the future. Fortunately, she is still healthy and able to qualify for coverage and has since taken out a policy to cover her Long Term Care needs.
Christopher Reeves and Michael J. Fox are very public figures who illustrate the obvious. We cannot guess or know when or how a Long Term Care issue will arise. The younger we are the more invincible we feel. However, we all know folks who have been touched one way or another by disabling illness and how it has impacted them and their families.
Planning is the key to protecting yourself and your family. Consulting a professional to implement this plan is also crucial.
Her is another real life story.
Pete met with a me to do some planning for Long Term Care. His daughter Darcy, lives next door and was invited to join the meeting because she was concerned about the fact he had not made arrangements for his care needs. Darcy and her husband, work full time and take care of their granddaughter. They were very worried about what would happen to Dad if he needed help. After reviewing the options available, the family decided to take out a Home Health Care policy on Pete. This would allow him to stay home near the family while taking the burden of day time care off Darcy. Pete eventually became ill and unable to care for himself. An agency was hired to come in every day and assist with his activities of daily living. Darcy was able to continue working and keep Pete at home where he is surrounded by family. The policy pays for his care so no one is suffering a financial burden. The family is very thankful and relieved they put a plan in place to take care of this need.
NOTE: Names have been changed to protect the privacy of the clients.
Planning is the key to protecting yourself and your family. Consulting a professional to implement this plan is also crucial.
Her is another real life story.
Pete met with a me to do some planning for Long Term Care. His daughter Darcy, lives next door and was invited to join the meeting because she was concerned about the fact he had not made arrangements for his care needs. Darcy and her husband, work full time and take care of their granddaughter. They were very worried about what would happen to Dad if he needed help. After reviewing the options available, the family decided to take out a Home Health Care policy on Pete. This would allow him to stay home near the family while taking the burden of day time care off Darcy. Pete eventually became ill and unable to care for himself. An agency was hired to come in every day and assist with his activities of daily living. Darcy was able to continue working and keep Pete at home where he is surrounded by family. The policy pays for his care so no one is suffering a financial burden. The family is very thankful and relieved they put a plan in place to take care of this need.
NOTE: Names have been changed to protect the privacy of the clients.
