Most people over the age of sixty-five will need some sort of long term care before their death. With such high odds, you should plan for your long term care and discuss your choices with your family.

Weigh Your Options

There are a variety of long term care options ranging from day time only care to around-the-clock care. What type of care you choose will depend upon your needs and your personal preferences.

For those with light care needs who simply desire a place to go during the day while family members are at work, an Adult Daycare is a possibility. They provide social interaction and a variety of activities as well as assistance with meals.

At home care works for people with a variety of needs. If you only require a little help with grocery shopping, cleaning your home or preparing meals, a daily caregiver may be a good idea. If your needs are more advanced, you may have a CNA or nurse on duty all the time. This can be quite expensive, however. Some people prefer to stay in their homes until death, which is often possible with help from hospice.

If you need a little extra care and you don’t mind downsizing your home, there are many assisted living facilities that allow you autonomy while still providing a central dining and activities area. A nursing home is a little more involved than assisted living. They provide care for those with medium care needs to those with constant care needs. Nursing facilities also offer daily activities for those who wish to participate.

Decide How to Pay

Long term care can be quite expensive. There are a few options to help you cover this cost. Medicare provides only some assistance with long term care costs, and in-home care services are especially limited. If you have Medicaid, it may pay for some or all of your nursing home costs, but will not cover in-home care, except for a very limited waiver program available in Mississippi.

Long term insurance can allow you flexibility in your choice. Premiums may be high, so try to purchase this insurance before you reach retirement age. Another option is Medigap insurance, which can cover some of the costs that Medicare leaves behind, but this coverage provides very little in the way of home care. Some life insurance policies allow a rider to use the death benefit funds to pay for long term care and may be worth considering.

For Veterans who served this Country at least 1 day during war time, up to almost $2,000 per month may be available as a Special Monthly Pension. This can be applied toward assisted living, nursing home, or even at-home care, although there are asset and income limitations so seek professional help before applying for this benefit.

Tags: Long Term Care, long term care insurance, nursing homes