|
 In the past, long-term care was
thought of as strictly nursing home care. Today long-term
care can be provided in a variety of settings, including
nursing homes, the person's own home, an adult day care
center, or a group living arrangement with supportive
services.
Do I Need Long-Term Care?
Whether you require long-term care depends on your level of
disability. The chances of needing long-term care usually
increase as you get older, but long-term care may be needed
at any age.
It is important for you to
recognize that at some time in your life you may require
long-term care services. Therefore, you should think about
how to pay for this care. Long-Term care is more affordable
at younger ages, and you can pay for LTC out of your Health
Savings Account.
In Wisconsin in 2004, 4.5% of
all people age 65 and over resided in a nursing home. That
number increased to 16% for persons above age 85.*
The longer a person lives, the
more likely it is that he or she will need some kind of
long-term care. Some people who have acute illnesses may
need nursing home or home health care for only short
periods. Others may need care for many months or years. Many
people who need long-term care receive that care in their
own homes through services provided by home health agencies,
relatives, or friends. Others receive care through nursing
homes, group homes, or assisted living facilities.
|
Lifetime Chances of
Being in a Nursing Home
(If you are now 65 years old) |
|
Total Length of Stay |
Men |
Women |
|
NONE |
67% |
48% |
|
Less than 12 months |
19% |
21% |
|
1 to 5 years |
10% |
18% |
|
More than 5 years |
4% |
13% |
|
Source: New England
Journal of Medicine, article by
P. Kemper and C. Murtaugh. February 1991 |
|
Lifetime Chances of
Being in a Nursing Home |
|
Total Length of Stay |
Men |
Women |
|
NONE |
67% |
48% |
|
Les than 12 months |
19% |
21% |
|
1 to 5 years |
10% |
18% |
|
More than 5 years |
4% |
13% |
|
Source: New England
Journal of Medicine |
*Wisconsin Department of Health
and Family Services
Many people are interested in
long-term care insurance to pay for a stay in a nursing home
or other long-term care services. However, long-term care
insurance is not for everyone. For some individuals,
long-term care insurance is an affordable and attractive
form of insurance. For others, the cost is too high and the
benefits are insufficient. The purchase of long-term care
insurance should not cause a financial hardship by making
you neglect other more pressing financial needs. Each person
must examine his or her needs and resources to decide
whether long-term care insurance is appropriate.
Get a Personalized Insurance Quote
Contact
Ulrich and Associates |
