No Medicare Supplements for Long Term Care

One of the most expensive – and unexpected – costs of aging is the possibility of needing Long Term Care in a facility that can help you if you cannot stay home and take care of yourself or if it is impossible for your family to take care of you.  For instance, if you fall and break a leg or a hip and you happen to live on your own, you may need care for weeks or months.  It may be possible for the family to help out in many ways, as well as getting help from friends, neighbors, your church members and others.  However, the bottom line may be that you need more help than they can provide.

Perhaps you need more specialized medical care or physical therapy that would help you heal better and faster.  In many cases it is better for this type of healing to take place in a Long Term Care facility.

The problem is that there is no coverage for this type of facility unless you purchase it.  Long Term Care is an area that is often overlooked because individuals think that they are covered for it when they actually are not.

With the “Baby Boomer” generation getting older, this is something to think carefully about.  We worry about our parents, who could be in a situation where they need Long Term Care, and it is important to help them determine their needs and find appropriate coverage.  After all, if we are in our 50’s or 60’s, they are in their 70’s or 80’s and could very well need coverage before any of us realize it.

It is also essential that if we are Baby Boomers, we should look at our own situation.  Yes, we have all heard that 60 is the new 40, and that is great news, however, whether you are 40, 60 or 80, if you are in an accident of some sort or have a long term illness that requires Long Term Care and ongoing treatment, you need to do some research and find coverage now – while you are healthy.

This is not to say that there is no help available.  Medicaid will cover some nursing home costs; however, the coverage is based on need which basically means that the individual has no assets to liquidate and no money to pay for the expense.  That being said, the time to start looking at the viability of Long Term Care is now.  There are many plans available at affordable rates.  Google “Long Term Care” and start comparing.  Make sure you are ready, just in case.