The National Institute on Aging describes long-term care as a “variety of services” seniors need. While some individuals may believe LTC refers to nursing home care, the term includes services that you may require and receive at your own home.
Individuals with ongoing medical conditions or disabilities may require help with daily activities. Assistance may, for example, come from relatives who help with bathing and eating. In some cases, LTC benefits could include professional home health care such as a nurse who visits in person.
How may I know if I will need long-term care services?
Statistics provided by the U.S. Administration on Aging note that 70% of the nation’s residents aged 65 or over will need LTC services. On average, women may require care for 3.7 years and men may need care for 2.2 years. Regardless of gender, 20% of Americans may require LTC support for at least five years.
As reported by Kiplinger’s Personal Finance, individuals perform six daily living activities. The activities include basic needs such as hygiene, dressing and eating. Moving to and from a chair or bed, continence and grooming round out the daily living activities. You may require LTC services if you need help to complete at least two of the daily activities.
What options exist to receive LTC assistance?
When planning for LTC services, seniors often turn to friends and family. As noted by the American Council on Aging, you may also choose to purchase insurance that includes LTC coverage. Florida residents could also apply for Medicaid, which offers LTC services to the elderly and disabled. Qualifying for Medicaid, however, requires meeting income and asset limits.
Estate plans may cover LTC services and how to qualify for them. Depending on your needs, a strong support network may include help from family, insurance coverage or Medicaid benefits.