"Long Term Care Insurance can cover the costs of Assisted Living, Homecare or a Nursing Home; plan for the future"
Posts Tagged ‘Long Term Care Insurance’
Saturday, November 20th, 2010
In the state of Texas, long term care can be quite expensive, ranging from $900 to $3,000 per month for care in an assisted living facility, and from $150 to $200 per day for care in a nursing home. How can one cope with such high costs? (more…)
Wednesday, November 10th, 2010
Up to 70% of individuals over the age of 65 will require long term care and/or skilled nursing at some point in their lives. In the state of Florida, nursing home care can cost up to $77,000 annually. Many states, including Florida, have expanded their long term care partnership programs to offer individuals a means of paying for their long term care needs. As a result, individuals who have a qualifying long term care insurance policy can obtain Medicaid coverage for their long term care needs without having to spend almost all of their assets first. This is important because Medicaid requires that an individual spend down to $2,000 of his/her own assets in order to qualify for state-funded long term care coverage. (more…)
Monday, October 4th, 2010
The state of Pennsylvania boasts a plethora of long term care planning resources. These resources are intended to provide information about long term care services that may be required because of injury, illness, disability, or aging. Resources available include the following: (more…)
Thursday, July 22nd, 2010
Maintaining a loved one in a nursing home can be quite expensive. In California, the average annual cost of having one person living in a private room in a nursing home (which provides skilled nursing) is over $87,000. Even in an assisted living facility, where residents are expected to be more independent (and are less supervised), the average annual cost is $42,000. (more…)
Tuesday, October 20th, 2009
Long Term Care Insurance — Ontario
According to Christina Bisanz, the CEO of Ontario Long-Term Care Association, the Ontario Ministry of Health has no particular intention to increase the number of new beds in Ontario’s long term care facilities. This is despite the fact that there is already a long wait list of people — 25,000 in Ontario alone, according to Bisanz — who are waiting for placement into a long term care facility. These wait lists are only getting longer as Canada’s population ages and more people need acute long term care.
Tuesday, October 20th, 2009
Government Funding & Long Term Care — Ontario
The Canadian health care system is in a state of crisis. With health care budget cuts, combined with the rising cost of health care and the growing number of seniors requiring acute long term care, aging baby boomers have a good reason to worry about whether or not government-funded long term care will be around for them by the time they need it.
Despite the fact that our neighbors to the south have proven privatized health care to be expensive, amoral, and inefficient, the Canadian government may have no choice but to ask its citizens to foot the bill for their own long term care. Consider that already, despite seniors accounting for only 12.5% of the population, they take up almost 43% of health care costs. Just Alzheimer’s disease alone costs nearly $4 billion per year. By 2031, the number of Canadians living with dementia will double. And by 2020, the percentage of seniors will have risen to 20% of the population.
Tuesday, August 4th, 2009
Welcome to longtermcarecorner.com. The purpose of this website is to provide easy access to information about government run long term care services, long term care insurance, costs related to providing long term care and information on private care providers. The information found on our site was compiled by a list of professionals across many disciplines within the long term care sector. As more and more people find themselves in the position of managing the care of a parent, relative, friend or one’s self; the need for information is imminent, yet while there is an urgency to find the requisite information, the information can sometimes be difficult to find and even harder to decipher.
Our team’s goal was to make all information related to long term care readily accessible, while at the same time making it easy to understand.
The current government funded long term care system is designed to provide adequate and minimal care, and unfortunately, this trend looks like it will continue. In this environment, there are other options that people can use outside of the current system;however these options can be quite costly. For those who are currently in this position, you now have a resource for help. For those looking to plan ahead, you will find useful information on potential care costs and strategies to hedge these costs through long term care insurance.
This site caters to the mass, please check back with us often to see what new information we have to offer, share your stories or join a discussion.
We look forward of being of service to you.
The longtermcarecorner.com Team