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will i need long term care ltc planning guide andAll elderly people, regardless of current health, should have a long term care plan. Learn More. Click here to learn about the benefits of membership. With that goal in mind, we have created the largest and most comprehensive source of long term care planning material available anywhere.But according to surveys frequently conducted among the elderly, the most likely answers we would receive would include the following three principal concerns. It is human nature not to worry about an event until it happens. Certainly everyone is concerned about having his house burn down or having an accident or getting an illness or ending up in the hospital or needing long-term care but these things are typically beyond our control and we can't sit around and worry about them. But people do plan for the risk of loss and typically have set money aside or bought insurance or prepared written documents to cover the unexpected. This is because the need for long-term care typically removes any level of security an elderly person may have with the three major lifestyle concerns mentioned above. No wonder many elderly care recipients withdraw, become angry and suffer from severe depression. It seems a paradox that someone would be more concerned about buying insurance for a home fire when the risk of long-term care is 600 times more likely. Or what about the cost of insuring for an auto accident when the risk of long-term care is 120 times more likely and is potentially 20 times more expense. Or why the overwhelming concern to buy Medicare supplement insurance when without it Medicare would still cover most of their health needs after deductibles and co-pays. We're not recommending going without insurance coverage we're simply using it as an example of how people refuse to deal with the issue of long-term care. Perhaps they have seen it in their family or among friends and seen the effect that it has.http://lowfareairportcars.co.uk/home/saktc6/public_html/adminpanel/uploads/imagefile/dirt-devil-featherlite-parts-manual.xml
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Because of the unsavory aspect of receiving long-term care, perhaps the elderly prefer to ignore it rather than embrace the need for it. Perhaps they mistakenly think the government will take care of them. Or they are assured that family and friends will provide the care when needed, but don't know how difficult it really is for loved ones to provide that care when the time actually comes. Whatever the case, without proper planning, the need for long-term care can result in the single greatest crisis in an elderly person's life. It usually results in great sacrifice or financial cost on the part of the spouse or children. Or for those with no immediate family, long-term care can be a burden to extended family members. Here is a list of factors that will make long-term care in the future an even more pressing burden than it is today. The older the person, the more likely the need for long-term care and the more likely a need for care which lasts not just months but years. Over 50 of the age group over 85 is receiving long-term care. The Alzheimer's Association estimates about 46 of people over the age of 85 have dementia or Alzheimer's Obesity is a major contributor to disability and poor health in the elderly. Estimates are that the effects of obesity will increase nursing home enrollments by an additional 15 to 20 by the year 2020. The population of elderly over 65 will double from about 37 million people today to about 77 million people in 2035, 30 years from now. Based on current estimates of the rate of long term care this means that in 30 years about 17 million elderly Americans will be receiving long term care. About 40 of the population is single. The combination of fewer children, the increasing number of single person households and a growing number of elderly will eventually create a situation where there are more people needing care than there are available family caregivers.http://9ja-bet.com/userfiles/dirt-devil-featherlite-vacuum-owners-manual.xml With women being the traditional caregivers, this means only about 40 of traditional caregivers are at home and able to provide long term care for loved ones without having to juggle a work schedule as well. Over the next 50 years the elderly will grow from about 12 of the population to over 20 of the population. Medicare will cover rehabilitation from a hospital stay or limited care at home if there is a skilled (medical) need. The Veterans Administration will cover the cost of nursing home care indefinitely if the veteran is at least 70 service-connected disabled. The VA will also cover other forms of home-based or community-based care if there is a medical need. In other words a person must be impoverished. Otherwise Medicaid will not pay. Care not covered by the government is also care provided from family out-of-pocket payments in nursing homes and assisted living facilities. Families are also hiring more and more aide services to help with care at home. However some is provided by professionals or aides paid from family funds or from insurance. If we were to multiply the total number of home care hours we derived for the chart below times the average hourly cost for home health aides, we would have an equivalent yearly cost of home care in this country. We estimated about 16,556,400,000 hours per year of home care in 2000 and the number of elderly has grown about 1 per year since then. This gives us roughly 17,400,943,000 hours in 2005.If the Federal government had to pay all home care costs in this country combined with what it already pays for long-term care, the cost would be the third largest single expenditure in the federal budget exceeded only by Social Security and defense. Also a number of educated guesses were made in order to complete the data. These were estimates of daily care hours including services such as homemaker and housekeeping services for various care systems. Some of the estimates were based on examples of acuity standards and personal experience. We feel that although the data may contain some error, you can get an appreciation of the amount of care in terms of hours yearly that is provided by the major care systems in this country. The number for home care hours provided comes from the 1999 National Long-Term Care Survey where the respondents indicated the average number of weekly hours provided for care was 42 hours. The hours per patient in nursing homes were estimated from the 2000 survey of nursing home staffing done for Congress. Hours and length of stay for Medicare home care, Medicare nursing home and hospice were taken from CMS sources. The analysis is for the year 2000. The most complete data set is from surveys and statistics published in 1999 and 2000. There is not a current complete data set available to do this analysis for a more current period. Source: 1999 National Long Term Care Survey Some of these objections seem perfectly reasonable and you may wonder why we list them as an excuse not to plan. The answer is, in the light of further analysis, none of these reasons are realistic. It's also interesting to note that from our experience some people who have seen long-term care in their family still fail to plan. Our experience has been these particular people were never involved directly in the care of a loved one. Another member of the family was probably saddled with the entire load and responsibility. Non-involved members of the family escaped unscathed from the responsibility of care for a loved one and as a result do not see long-term care as a big problem. These services help people live as independently and safely as possible when they can no longer perform everyday activities on their own. Most long-term care is provided at home by unpaid family members and friends. It can also be given in a facility such as a nursing home or in the community, for example, in an adult day care center.http://ferramentafranza.com/images/como-hacer-un-manual-de-procedimientos-para-una-empresa.pdf These services may be provided free or for a fee. The need for long-term care can arise suddenly, such as after a heart attack or stroke. Most often, however, it develops gradually, as people get older and frailer or as an illness or disability gets worse. Several things increase the risk of needing long-term care. These factors also affect risk. Most long-term care is provided either in the home of the person receiving services or at a family member's home. In-home services may be short-term—for someone who is recovering from an operation, for example—or long-term, for people who need ongoing help. Unpaid family members, partners, friends, and neighbors provide most of this type of care. See When It's Time to Leave Home. These services may include nursing care to help a person recover from surgery, an accident, or illness. Home health care may also include physical, occupational, or speech therapy and temporary home health aide services. These services are provided by home health care agencies approved by Medicare, a government insurance program for people over age 65. Homemaker services include help with meal preparation and household chores. Personal care includes help with bathing and dressing. Agencies do not have to be approved by Medicare to provide these kinds of services. You can also purchase these services from home health agencies. Some senior housing complexes and community groups offer transportation services. Many public transit agencies have services for people with disabilities. Some services are free. Others charge a fee. The user wears a necklace or bracelet with a button to push in an emergency. Pushing the button summons emergency help to the home. This type of service is especially useful for people who live alone or are at risk of falling. A monthly fee is charged. Maybe you will never need it. But an unexpected accident, illness, or injury can change your needs, sometimes suddenly. The best time to think about long-term care is before you need it. It also allows you to make important decisions while you are still able. Making Decisions About Long-Term Care Talk with your family, friends, and lawyer about who would provide care if you needed help for a long time. Read about how to prepare healthcare advance directives. Talk to your doctor about your medical and family history and lifestyle. He or she may suggest actions you can take to improve your health. So can an active social life, a safe home, and regular health care. Learn about services, products, and resources that can help older adults stay in their homes. Sometimes, decisions about where to care for a family member need to be made quickly, for example, when a sudden injury requires a new care plan. Other times, a family has a while to look for the best place to care for an elderly relative. Many of us want to stay in our own homes. Agreeing that you will not put someone in a nursing home may close the door to the right care option for your family. The fact is that for some illnesses and for some people, professional health care in a long-term care facility is the only reasonable choice. Americans spend billions of dollars a year on various services. How people pay for long-term care depends on their financial situation and the kinds of services they use. Often, they rely on a variety of payment sources, including: You can also call your local Area Agency on Aging, Aging and Disability Resource Center, department of human services or aging, or a social service agency. NIA scientists and other experts review this content to ensure it is accurate and up to date. Without a solid plan, long term care costs can eat into your savings, deplete your assets, and even negatively impact your loved ones. This article serves as a simple but accurate guide that can help you plan for long term care. Of course, your home provides comfort and solace during difficult times, which is one reason behind this trend. A good LTC insurance plan will pay for your care, whether you receive it at home, in a nursing home, or at an assisted living facility. Between your 50s and your 60s is the perfect spot to buy long term care protection. Keep in mind that LTC coverage is cheaper the younger and healthier you are. Three-quarters of the people who are buying this form of insurance today choose a 3-5 year benefit period. When specifying benefit protection, you have the following options. Adding a nominal inflation growth factor provides maximum potential benefits at older ages when you might need long term care. LTC insurance policies currently available in the market offer numerous future growth options for benefits. In the case you ever need long term care, this fixed amount is what you’ll get, without computing for inflation. Your policy grows at an annual compounded rate (let’s say at 3), which means your benefit amount will have increased significantly if and by the time you start receiving benefits. A total of 273,000 policyholders filed claims in that year.Indeed, being able to remain at home when long term care is needed happens to be the number one reason why most people purchase this form of insurance. But what if you were wrong. What would happen to your family then. The consequences of needing long term care can be devastating. This might eat into the legacy you hoped to leave your children, or worse still deplete your entire savings. That said, what is your plan should you or your loved one suffer from a health impairment and end up needing care for months or even years. To qualify for long-term care protection, your health must qualify. Even if you don’t think you or your loved one will ever need care, it’s good to weigh your options right now, just in case. Today is the best time for you to speak to a seasoned long term care insurance professional. How and where you’d like to receive care if you ever needed it. How you’d like your family to contribute to your care. How you’d like to fund your care costs, while at the same time protecting your income, savings, and assets. At the expense of making a not-so-big investment, they can get the peace of mind that if they ever need care, it’s all catered for. This can also preserve peace and cohesion in your family because it allows your loved ones to be your family, not your caregivers. Contact a seasoned professional and ask what discounts you might qualify for. Determine if your health is in good-enough status for you to qualify for coverage. Please review this important information. Find how and where to get prelicensing and continuing education in this section. Separate enrollment is required for the Invoice Payments EFT Program and Tax EFT Program. This website consists of an overview of long-term care insurance, the types of benefits and policies you can buy, both as an individual and as a member of a group, information on what to consider before purchasing a policy and the premium rate history of each company that sells long-term care insurance in California. It explains why people may need long-term care and how this type of insurance can help cover the cost for care. However, there are some policies (typically more costly) that will pay a cash benefit. When you receive your policy, be sure to read it and ask questions if there is anything in the policy that you don't understand. The Rate Guide explains how long-term care insurance is structured and what benefits you can buy. A qualified long-term care insurance agent or the Health Insurance Counseling and Advocacy Program (HICAP) can help you with these questions and many others. Agents must give you a copy of it when they attempt to sell you a long-term care insurance policy. That booklet is also available from your local HICAP project. It provides free counseling on long-term care insurance, as well as on Medicare and Medicare supplement policies. Call 1-800-434-0222 to find the local project in your community. There are detailed worksheets in the NAIC publication that may help you choose the coverage you need. Unskilled workers are sometimes supervised by skilled medical personnel such as registered nurses. Informal long-term care is frequently provided by unpaid family members and friends. Some of those are how long you may live, your health history and whether you have a spouse or family members who can provide some of the care you may need. If you feel you have a greater risk, you may want to consider applying for coverage while you are still able to qualify. California nursing home rates increased at an average rate of over 5 per year during the past twenty years and are likely in the future to continue to increase by at least 5 per year.While people do get personal care services at the same time, Medicare will not pay unless there is also a need for daily skilled services that only a nurse or therapist can provide. Medicare may pay for some personal care services at home but again, only if you also need skilled care on a daily basis that only a licensed person can provide. For more details, see the Medicare benefits book available from your Social Security office or by calling the Social Security Administration toll-free at 800-772-1213. You can get the most current information about Medi-Cal from your local county Department of Social Services, legal services Program or an elder law attorney. These funds come from personal income and resources. When care is provided by family members and friends at home, necessary skilled care such as equipment, transportation and other costs not paid by Medicare are also paid from the patient's personal income or savings.Long term-care insurance is available from insurance companies selling in California and may be cost effective for you if you have sufficient available income to pay the premiums. Home Care including Home Health Care, Personal Care, Homemaker Services, Adult Day Care, Hospice Services or Respite Care. (Some Hospice and Respite care can also be received in a facility like a nursing home). Each policy is labeled as: Home care is not covered or Insurance companies participating in the Partnership program must have their Partnership policies approved by both the Department of Insurance and the DHCS. Additionally, only insurance agents who have received special training are able to sell you a Partnership policy and to advise you as to whether the Partnership program works for you. Be sure to confirm that your agent has this special certification to sell Partnership policies. Partnership policies also have other important features that are not required in other long-term care insurance policies. To learn more about these policies and the companies that are approved to sell them, call the Partnership for free brochures at 800-CARE445 (800-227-3445). Some or all of the premiums for these federally tax qualified policies may be deductible as a medical expense on your federal and California income tax returns (depending on your age and the amount of annual premium). It may be easier to qualify for benefits from non-tax qualified policies that use the standards established by California. If you have specific questions pertaining to how the purchase of tax qualifiedlong-term care insurance will impact the deductions you take or the taxes you pay, you should talk to your tax advisor to see how it will affect your individual taxes. These policies must be approved by the California Department of Insurance (CDI) and have all of the consumer protections required under California law. However, every company has the right to increase the premiums it charges with proper notification and approval from the Department of Insurance. Often, but not always, group insurance is less expensive than individual insurance. If group coverage is terminated, you have the right to continue the coverage or buy a conversion policy depending on the provisions of the policy and other factors. If you purchase group coverage, ask about what options will be available to you if the group cancels the policy or if you lose your membership or eligibility. Be sure the group is negotiating in your interest. Some group policies do not need to be approved by the CDI although the company is required to send information about the policy to the CDI for its records. The master policy can be cancelled by the carrier or the sponsoring group at its option. Be aware however, that California law has changed many times over the years and that insurance policies sold in previous years may have different requirements than are shown here. All long-term care policies except Home Care Only cover this kind of care. Some insurance policies sold before October 2001 may also include this benefit.Under California law, these services may be provided by a skilled or unskilled person as long as they are required in a Plan of Care developed by your doctor or a team of health care workers under medical direction. Some policies will pay or reimburse the cost for these services in an institutional setting as well. Under California law, hospice services (like Personal Care and Homemaker Services) may be provided by a skilled or unskilled person so long as they are required in a Plan of Care developed by your doctor or a team of health care workers under medical direction. The non tax qualified policy will include ambulating as a seventh ADL. The Plan of Care is a familiar document to your doctor, hospital discharge planners, home health agencies and other health care providers who know about long-term care services. Many policies also require that the Plan of Care be updated periodically to reflect any change in your need for care. You choose the length of the Elimination Period when you buy the policy. The most common options are 0 days, 30 days, 90 days or 100 days. Some policies only make you meet the Elimination Period once during the life of the policy; others apply it again after you have gone for a certain period of time without needing care. In some situations the elimination period will be satisfied by a day of either in-home care or institutional care. The premiums are usually higher for short elimination periods and lower for longer ones. Be sure to ask your long term care insurance agent to explain these very important differences. The claims process (or payment process) for covered costs begins once the elimination or deductible period is satisfied or on the first day if you select a zero day elimination period. Therefore, if your plan of care only calls for 3 visits per week you will only satisfy 3 days towards your Elimination Period. Some companies offer a more liberal interpretation of this definition. For example, the policy might say that if you have one home care visit per calendar week that you've satisfied 7 days towards your Elimination Period. In this example, you would satisfy your Elimination Period more quickly. Once the insured has been certified as being chronically ill, each calendar day counts towards the elimination period, regardless of whether formal long-term care services are received. This allows the insured person to get informal care from family or friends during the elimination period. After the elimination period has been satisfied, payment or reimbursement of benefits can begin. Also, make sure that the Elimination Period days that are accumulated either in a home care or institutional care setting are combined to satisfy your overall elimination period. Be sure to ask your long term care insurance agent to explain this. If you decide to buy a long-term care insurance policy, you will select a maximum daily benefit. There is no minimum daily benefit for facility care. Estimate the daily cost of long-term care in your community and subtract the amount you can afford to pay for each day of your care. The longer the period of coverage, the higher the premium. Your Lifetime Maximum Benefit is computed by multiplying the Daily Maximum benefit you select by the approximate number of days you want benefits to be paid or reimbursed. Some people can afford lifetime coverage, others have so little money they would quickly qualify for Medi-Cal. Choosing the right amount of benefit depends on the premium you can afford, and the assets you would otherwise have to spend. Policies may offer rate guarantees for certain time periods for an additional premium. A qualified long term care insurance agent can assist you in reviewing the options available. In the past, long-term care costs in California have increased at an annual rate of more than 5. Inflation protection increases the Daily Maximum, the Maximum Lifetime Benefit and other benefit amounts. If you purchase individual long-term care insurance, your insurer must offer you at the time you purchase the policy the option to purchase an inflation protection feature. Your insurer must offer inflation protection which is no less favorable than the following options: (1) Increases benefit levels annually so that the increases are compounded annually at least 5; or (2) a Benefit Increase Option. The insurer is required by California law to offer you the option of a 5 annual compound inflation protection feature that automatically increases your previous year's Daily Maximum and Lifetime Maximum Benefit amounts by 5. If you decide not to purchase the 5 compound annual inflation protection feature, you will be asked to sign a rejection of the offer. Also, if you do not purchase 5 compound inflation, some insurers may also offer you the option of a 5 (or other percentage) annual simple inflation protection that automatically increases each year the Daily and Lifetime Maximum Benefits by a fixed 5 of the amounts in your original policy. Policies with inflation protection cost considerably more initially since they automatically include the annual increases in benefits you need to keep pace with inflation. This option allows you to pay an additional premium to increase the benefit coverage amounts at stated intervals during the life of the policy (may be referred to as guaranteed insurability or future purchase options). There are usually a limited number of increase options offered to you over the life of the policy. If you decide not to exercise this option one or more times when it is offered, you will lose any chances to increase your benefits in the future. The premium increase for each benefit upgrade will be based on the amount of coverage added and your age at the time you exercise the Benefit Increase Option. Because rates for older individuals are significantly higher and you will be older when each upgrade is offered, each Benefit Increase Option you accept will result in a larger premium increase than the prior offers. The advantage of the Benefit Increase Option is that the initial premium you pay for the policy will be much lower than if you choose the Annual Benefit Increase Option. However, in the long run, you may end up paying more in total premiums to protect your benefits against inflation protection because of the additional premiums you must pay to purchase each Benefit Increase Option. Before you make a decision, you might want to consult with a financial planner, an attorney, a HICAP counselor or a family member. Your coverage may not be cancelled because of your age or your health but the company retains the right to increase premiums if the CDI approves the increase. The premium will be calculated on your age at the time the group certificate was issued. Among other things, this duty means that advertisements and other marketing materials may not be misleading. No excessive insurance or inappropriate replacement policies may be sold. High pressure tactics are expressly forbidden. Insurance agents must receive special training in order to sell tong-term care insurance. If they decide not to buy the insurance for any reason, they may return the policy to the insurer or the agent without explanation, and all the money they paid will be refunded to them. (Note: Keep a record of the date you receive the policy and the date you return it or return it by certified mail.) An Outline of Coverage must be delivered to you at the time of an insurance agent's first presentation. If you are purchasing insurance through the mail, then the Outline of Coverage must be delivered to you at the time you receive the application or enrollment form. You do not need to fill out an application in order to get the Outline of Coverage. A long term care insurance agent or insurance company should be willing to give you an Outline of Coverage. You may also request a sample policy. Companies must, at a minimum, let you reduce the daily benefit or change the number of years the company will pay benefits so the lower premium is an amount that is more affordable.