Long Term Care - The Basics

Long Term Care - The Basics

Author: Brian Saben

The goal of long term care (LTC) is not to cure an illness or injury, but rather to maximize an individual's independence and functioning.

LTC is comprised of an extremely diverse range of services which include the following:

• Homemaker Services

• Personal and Home Health Aides

• Skilled In-Home Nursing Care

• Adult Day Care

• Assisted Living Facilities

• Nursing Home Care

• Hospice Care

These services are designed to meet not only an individual's health needs but their personal needs such as household chores, running errands, meal preparation and money management.

LTC becomes necessary when an individual needs help bathing, dressing, toileting, transferring, eating or caring for incontinence. These are commonly referred to as the Activities of Daily Living. LTC may also become necessary due to a cognitive impairment such as memory loss, confusion or disorientation caused by a disease such as Alzheimer's.

The majority of individuals that need LTC develop the need gradually over time. During the early stages of an illness an individual may need care only a couple times per week. Typically, this type of care is provided by family and friends. As the individual ages and the illness progresses the frequency and level of care increase. In some cases, care is needed around- the-clock. This type of care can be very expensive.

Today there are over 15 million Americans receiving LTC. Most individuals who need LTC are 65 years of age or older, however a person can need extended care at any age. Of those currently receiving LTC, 40 percent are between the ages of 18 and 64!

There are several factors that increase your risk of needing LTC and they include:

• Age

• Sex

• Marital Status

• Family History

• Lifestyle

Because women typically live longer than men, they have a greater risk of needing LTC. Single persons are also more likely to need LTC due to the lack of a care giving spouse.

Determining the amount of LTC a person may need is difficult to determine but on average a person needing LTC receives care for roughly 2 ½ years. Women typically need care for 3 ½ years compared to just over two years for men. Of those receiving LTC, approximately one out of five will need care for more than five years! Once an individual begins receiving LTC they typically never recover.

Costs for LTC vary greatly depending upon the type and amount of care you need and the provider used. In Central Florida the average cost for some of the different levels of care are:

• Private Room at Nursing Home: $207 per day

• Semi-Private Room at Nursing Home: $187 per day

• Assisted Living Facility: $2,726 per month

• Home Health Aide: $18 per hour

• Homemaker Services: $17 per hour

• Adult Day Services: $57 per day

One year of home care, assuming the periodic need of a home health aide, would cost nearly $18,000 a year. Your potential yearly outlay for a private room at a nursing facility would cost $76,000. Combine this with an average need for long term care and the total potential outlay would be $45,000 for home care and $190,000 for a nursing home! And that is in today's dollars.

For most of us LTC is a very real and expensive possibility. To help protect you and your family from these growing costs contact your local LTC specialist to structure a Long Term Care Insurance policy to meet your needs.

Brian Saben is a licensed insurance agent with Great American in Ormond Beach, FL.

Brian can be reached directly at (407) 739-0231 or bsaben@cfl.rr.com .