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Preparation for the potential cost of future impairment and long-term care is, unfortunately, a project that everyone faces as they age. You may never need long-term care. This year, about 9 million men and women over age 65 will have long-term care. By 2020, 12 million older Americans need long-term care. Four out of five older adults with chronic disease. The loss of a person’s ability to function day to day is a normal part of aging, and the losses become more severe as people get older.
When a veteran needs for long-term care can no longer be met either in the home or without the intervention of paid grant, older leaves what I call long-term care maze. The elder and family elder, are now embarking on an arduous journey through the murky waters. The tour begins with the observation that the current system in our country to address long-term care is a non-system, hodgepodge service that fails to meet the needs of the elderly and disabled in a variety of long-term care settings. It is economically inefficient and fails to ensure the quality of services provided.
Currently, the fund elderly long-term care services from a variety of sources, including private resources, such as personal savings, care donated by friends and family, and long-term care insurance and public programs, including Medicaid and Medicare. Medicare pays for health care, such as the Part A hospital benefits and benefits of part B doctor. Many of our clients start their initiation of long-term care maze of stay in the hospital, that Medicare pays for. Hospitals are under increasing pressure to shorten Inpatient stays. Patients who are not ready to go home can instead be discharged to skilled nursing, under Medicare limited skilled nursing benefit. As a result, people either stay for a short time in the Medicare skilled nursing or exhaust benefits during their stay. Many of our customers and their families believe that Medicare will pay for all long-term care. Medicare pays for health care, not personal or custodial care and it is limited in duration. Medicaid pays for intermediate nursing home care, provided the person meets certain income and asset levels and exemptions. Compensation veteran pays for health care and some long-term care costs depending on the facility and the status of veteran or spouse Veteran.
man preparing for possible long-term care needs have several options to choose. One option is to self-insure by putting aside savings and assets, and then add the personal resources with given free care or family and friends. In fact, the majority of impaired elderly rely solely on gave care and their own savings. Individual self but ensures maximum flexibility and control over their savings and assets, but must bear the full financial risk of impairment according to the amount and duration of functional loss. According to the Congressional Budget Office, senior general are not well prepared to pay for long-term care needs.
Although long-term care insurance may be available to pay for long-term care spending from long tert care insurance accounts for only 4% of total long-term care expenses. When it comes to paying the cost of long-term care – whether in a nursing home, assisted living facility, or community home based care – there are really only two choices for most people, the wealth or public benefits. These are not mutually exclusive. Rarely will the public pay the entire cost of any care, at least not for a long time. In fact, most public benefits programs in the United States have cost sharing or co-payment segment. For example, Medicare skilled nursing facility benefit will pay all costs for the first 20 days; for 21 to 100 a day, the patient pays a co-payment changes annually and in 2008 is $ 128 per day. In 2009 will increase to $ 133.50 per day. Medicaid requires that a nursing home resident pay all their monthly income to the nursing home, less certain allowable deductions as personal needs allowance.
Most health care systems are ill-equipped to address the needs of aging they are meant to serve. Modern health systems were established on the principles of acute care and are characterized by a focus on increasing specialization, efficiency and expediency. It is a system that is focused on healing the illness of the patient and immediately respond to health crises. Yet older patients with chronic diseases and other diseases require continuous care that bridges the traditional medical boundaries and care settings. Three major flaws in acute care model of health care. First, it does not support the people in their day-to-day self-management of chronic illness. Second, it does not harmonize or advocate for quality chronic illness care. Third, it does not provide the necessary support and funding other than acute care or nursing home care.
Life Care Planning is an innovative approach to elder law allows families to respond to all the challenges presented by long life, illness and disability. Peace of mind for seniors and their families is the goal of every Life Care Plan.
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