Long-term care insurance covers custodial care given at home, in adult day care centers, assisted living facilities, or in nursing homes for people with chronic disabilities and lengthy illnesses. The reason for the need for care can be the normal process of aging such as frailty, or brought on by an accident or injury. Typically, one would need help with Activities of Daily Living (ADLs) or supervision due to a cognitive impairment such as Alzheimer’s.
What are Activities of Daily Living (ADLs)? – Custodial or non-skilled care is any type of care provided to an individual that is not directly related to medical treatment, such as that offered by a nurse or doctor. Non-skilled care includes services that may help you or a loved one with:
Dressing and grooming
Physical transfers (such as from a chair to a bed or vice versa)
Will I really need long-term care insurance?
Many people, whether youre a senior that has become frail, needing help after an accident, or have a limiting medical condition, find that they need the most help with their ADLs or with shopping or cooking.
Unfortunately, long-term care and long-term care insurance needs may be confusing to many. In Texas, long-term care insurance plans are available from a variety of sources, including those found in Austin, Texas. Now that people are living longer and healthier lifestyles, increasing numbers of seniors now or will need some type of long-term care in the future.
Most of us are not protected against the costs of caring for ourselves as we age or after an accident that may leave us unable to take care of ones self. These days, people are preferring to age in place which means aging at home and relying on our loved ones and/or adult care services provided by home care providers. The problem is, costs for such personal care in a home environment costs approximately $41,184* a year for a Home Health Aid in Texas. An assisted living facility costs approximately $38,4000* a year in Texas. Nursing home or skilled nursing facility care costs continue to rise, with the average cost in Texas of $47,450* a year for semi-private room and $61,503* for a private room.
Long-term Care Insurance quote
Check around for long-term care insurance quotes in your area. Talk to a long-term care insurance agent to calculate the average cost of care in your area and then balance those costs with the affordability and benefits of a long-term care insurance policy. Statistics show that approximately 70% of seniors over the age of 65 will need some type of long-term care service during their lifetime, and risk factors for each individual can increase that likelihood. Save yourself from out-of-pocket expenses and help secure your financial future and retirement by avoiding the drain that you may face paying out-of-pocket expenses for home-based care.
The greatest advantage of a long-term care insurance policy for folks in Austin, Texas is that it supports independence by helping you to stay in your home and not having to go to a nursing home for assistance. Whether youre 50 or 75, youve earned the right to have options and to age in place.
*Genworth Cost of Care Survy 2011