Long Term Care is the assistance individuals need when they are unable to care for themselves and need help with Activities of Daily Living (ADLs) - bathing, dressing, transferring, toileting, continence (control of bodily functions), and eating - or they have severe cognitive impairment such as Alzheimer's disease. The need for long term care can result from an accident, chronic illness or short-term disability, or from advance age.
There is no doubt the cost of Long Term Care today represents a significant risk to most families’ savings and retirement, especially since many of us are living longer, and since this type of care is not covered by regular health insurance, Medicare or Medicare supplement insurance. Long Term Care is also called extended care or custodial care, and is defined by IRS Code 7702B as it relates to tax-qualified Long Term Care insurance. The qualifications or “triggers” to qualify for benefits under a Long Term Care Insurance policy are either…
Many people do not know about or understand all the long term care options that are available. The following are brief descriptions of the major types of long term care, the kinds of service you may need, the ways of paying for long term care and how to find the best services and facilities:
Home care can be given in your own home by family members, friends, volunteers, and/or paid professionals. This type of care can range from help with shopping to nursing care. Another type of care that can be given at home is hospice care for terminally ill people.
