The Top 10 Reasons to Consider Long Term Care by vpb11525


									          The Top 10 Reasons to Consider
            Long Term Care Insurance
          10.   “Long-term care is the greatest health expense older Americans face.”
                Walter Cronkite1

          9.    Adult children would like to help, but often have the pressures of career,
                 nances, and children of their own that prevent providing the degree of
                assistance needed.

          8.    About 9 million Americans, now 65 or older, will require long-term care. That
                number will rise to 12 million by 2020.2

          7.    “Consumers who would like to protect their assets, minimize dependence on
                family members and control how they receive nursing or home care, should
                carefully consider long-term care insurance.”3

          6.    Medicaid pays for long-term care services but only if you meet federal poverty
                guidelines, and the choice of care facilities can be very limited.4

          5.    Medicare will cover nursing home stays only if skilled nursing, such as
                administering intravenous drugs, is required and if the person has been in a
                hospital as least three days before entering the nursing home. If skilled nursing
                is required, Medicare will cover fully for only 20 days, then will pay about half
                the cost for only 80 days.5 Medicare will pay nothing for other types of needs
                such as Assisted Living and Home Health Aides.

          4.    Average cost in 2010 for Assisted Living is about $35,000 per year, average cost
                for Nursing Home is about $70,000 per year, average cost for a Home Health
                Aide is about $20 per hour. Some states are higher.6

          3.    Health rarely improves with age.

          2.    Americans have access to the best health care in the world, if they can pay for it.

          1.    If you want to choose where to go, instead of having to go where you are taken,
                you will need to have either a big estate or adequate Long-Term Care Insurance.

                 1 Can’t A ord to Grow Old, Walter Cronkite, WNET, 1989
                 2 U.S. Department of Health and Human Services
                 3 Sandy Praeger, Kansas Insurance Commissioner
                 4 National Association of Insurance Commissioners
                 5 SmartMoney, “The Basics” April 16, 2010
                 6 AARP -

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