The Reality – Long-Term Care Insurance is Necessary

There is a perfect storm brewing in long-term care. Most of those at risk are either oblivious to it, in denial that it will not happen to them or procrastinating thinking they have lots of time to act.

The truth of the matter is taking responsibility for your long-term care sooner than later will give you options that you may not have later on. Your options will disappear as you get older and with that you won’t be as healthy.

The truth of the matter is that people are living longer and as there is a growing need for long-term care. The resources for providing this type of care are shrinking. There will be more “baby boomers” needing this type of care than there will be caregivers ready and able to provide care.

The public is not aware that Medicare isn’t a solution to the long-term care problem in America. According to Medicare & You 2010, Medicare only pays for medically-necessary skilled nursing facility or home health care if you meet certain conditions. Long-term care can be provided at home, in the community, in assisted living, or in a nursing home. A skilled nursing facility is covered only after a 3-day minimum inpatient hospital stay for a related illness or injury. Medicare doesn’t cover long-term care or custodial care in this setting. “Medicaid is a joint Federal and state program that helps pay medical costs if you have limited income and resources and meet other eligibility requirements.”

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