Life expectancy has dramatically increased due to advancements in medical science. It is vitally important that individuals plan in their younger years for long term healthcare insurance programs to cover the costs of medical care and services in their later years.
There are still solutions for those who do not have this important insurance coverage, such as discount medical savings plans that offer substantial discounts on quality health care for you and your loved ones.
Available Plans for Long Term Healthcare Insurance
One consideration for the elderly is government assistance through nursing home Medicaid. This requires paperwork to determine the net worth and assets of the people who apply for the program. Nursing home Medicaid is fashioned for low income elderly people.
Long term healthcare insurance may lower the costs out of pocket by as much as 15%, but you can receive that much savings with a discount medical card. The card plan is more affordable than long term healthcare insurance, but that is not the only reason to consider it as an option.
Various types of long term health care are available, and the suitability of each depends on the particular needs of the individual.
You may want to think about:
* A skilled nursing facility plan – Patients who are not able to care for themselves in daily activities require nursing professionals who are available around the clock. This is an SNF.
Not only nurses, but also doctors and therapists are available at anytime the need arises to provide whatever medical assistance is necessary. Family and friends are responsible for helping patients with their personal needs.
* An assisted living facility – These are designed to allow the patients as much freedom to do things for themselves as they are capable of. It is an improved living situation for elderly individuals who can still do most things for themselves. Assisted living does not cost as much as the SNF, but it does not provide as much medical care either.
* Respite care program – Many families are capable of caring for their loved ones and manage to handle this care the majority of the time, however it can become quite demanding and family members need regular breaks and time for themselves.
Arranging a schedule for someone else to care for loved ones at certain times is what respite care is. This can be dividing responsibilities among sisters and brothers when it is possible, or it can be having a healthcare professional to help out when necessary.
The least expensive solution is to keep all respite care in the family, even if it is difficult to do. Arranging for an outside source to care for individuals for limited periods can be handled in different ways. Caregivers may be contracted to stay in the home and tend to the needs of individuals and receive hourly pay.
Some government programs are available that provide short term caregivers for a small fee or free of charge.
Programs outside the home are typically senior care or adult day care centers. Adult day care allows working people an opportunity to have their loved ones cared for while they work part or full time.
* A home health care program – This is something like respite care, but it is more permanent or designed for an extended situation.
Using a healthcare savings plan, you have choices to make that have direct bearing on getting the best care and making the advanced years the best possible for your loved ones at discounted prices. A discount health card program often offers many more flexible options than long term healthcare insurance.