Projecting a time when you or a loved one need assistance in meeting health or personal needs through long-term care is often not thought about. Planning ahead for such a possibility can save emotional and financial stress and maintain more control over the services you require.
Long-term care is designed to assist with the activities of daily living over an extended period of time whether a short of long-term illness or disability. Such care includes dressing, bathing, eating and other activities limiting your independence, services of a non-skilled, personal nature. It is estimated that 60 per cent of those over 65 will need long-term care, while approximately 40 per cent of those currently receiving long-term care are under 65. The chances of needing long-term care increase with age. Predicting the amount of time needed for such care is difficult, as it varies with illness, the individual, and over time, often with need increasing gradually. Depending on the situation, services are provided at home, in the community (Adult Day Service Programs, for example), or in long-term care facilities, such as assisted living or a nursing home. Finding quality long term care in Indiana takes careful planning. Our Elder Law attorneys can help.
The Importance of Long Term Care Planning
By planning ahead you are able to have information about all the options available to you, public and private, eligibility criteria for services available in your community, the cost of services, and ensure a greater likelihood that you can maintain a better quality of life in a place of your choice.
Long-term care costs often exceed what most people can pay. Funding choices are varied and include personal savings, family support, long-term care insurance, reverse mortgages, and life settlements. Medicare does not pay for the custodial services of long-term care, only for medically needed skilled care. Medicaid can pay for some long-term services with eligibility limited to those with low incomes and assets.
Preserving your financial resources, being able to continue living a comfortable life, and maintaining an estate for your beneficiaries is possible with planning ahead for long-term care.