No one wants to admit they’re getting older and may need some help. Unable to live alone and take care of yourself, you might wonder if you’ll have to move in with your children or live in a nursing home. The cost alone may lower your options.
The best way to keep yourself from worrying about what you’ll do and how you’ll take care of yourself as you age, or if your health declines, is to prepare now. The sooner you can plan for your elder years, they better off you’ll be when they get here.
One thing to consider is how you’ll take care of yourself as you age. Can you afford to pay for a nursing home or have a full-time nurse in your home if you can’t live alone anymore? Most people can’t. That’s why there’s Charlotte long term care insurance (LTC).
What is Long Term Care Insurance?
Contrary to popular belief, Medicare won’t cover your non-medical needs if you need full-time care as you age. Long term care insurance will. This is the kind of care that helps you function in day-to-day life such as bathing, dressing, feeding yourself, preparing your meals, and more. LTC also helps you recover from surgery or illness. It’s best to buy coverage when you’re young and healthy, when costs will be lower. You also want to do it before you become ill because you can be denied for pre-existing medical conditions.
What is Covered by Long Term Care?
If medical care - doctor’s visits, hospital stays, and prescriptions - aren’t covered, you’re probably wondering why you need it. Take a look at what is covered by long term care insurance.
- Home health care
- Adult day care/service centers
- Respite care
- Nursing homes
- Assisted living facilities
- Alzheimer’s care centers
Home health care covers nursing care and different types of therapy such as occupational, speech, physical, and rehabilitative. You’ll also receive personal care for dressing and bathing. Some policies include meal prep and housekeeping in conjunction with personal care assistance.
You might not get sick as you age but simply become more frail and need help. You may be diagnosed with something like cancer or Alzheimer’s long before you think you’ll be old enough to need a nursing home. That’s why it’s important to consider long term care insurance before you need it.
We all want to stay healthy and active for as long as possible. But anything can happen. It’s better to be prepared so that you know you’ll have access to care when you need it than it is to find yourself alone with no help when you’re least able to take care of yourself.