Long-term Care: Do You Have a Plan?

When our mother’s overall physical and mental health deteriorated to the point that she needed constant care, we were able to find a comfortable assisted living facility for her because she had some financial resources—at least enough for about two-years. But when our mother’s resources were gone, she had to leave her assisted living facility. Our mother was distressed when she had to move from a nice facility that had become her home. Because my sisters and I were not in a position to take care of her, we had to explore her options. Fortunately, her financial situation and her inability to handle two or more activities of daily living, she qualified for care under Medicaid.

Medicaid Limitations

Some people may think that because Medicaid is available once you no longer have the means to take care of yourself, you don’t need to worry about long-term care planning. What we discovered is that Medicaid could save your loved ones from having to fend for themselves, but it comes with a lot of limits as well. Some types of Medicaid-covered care are not available in many states such as in-home care or even assisted living in other states. Also, some facilities don’t accept Medicaid payments.

Seeking Expert advice

Cindy Eastman, an experienced insurance advisor says, “The most overlooked segment of retirement planning is long-term care insurance.” Right now, it might be hard to imagine needing help with some basic activities of daily living. However, as Cindy pointed out, “the need for help with things such as eating, moving around and dressing can happen to someone at any age.”  She recalled that eight years ago when she had surgery, “it would have been wonderful to have a little part-time help with small things until I fully recovered.” Cindy says most long-term care “takes place in the home and often, it’s just part-time help. That’s good news because most people prefer to stay in their homes.” “The people who should look into the cost and benefits of long-term care insurance are those who have assets to protect and have done everything else to prepare for retirement.  When the time comes to pay for long-term care, it can cost hundreds of thousands of dollars and wipe out a lifetime of savings.” A lot of people may “hesitate to talk to an insurance advisor because they are concerned about the pressure they’ll feel to make a decision.” Cindy is committed to offering information and education about the topic so that they’ll feel empowered, not defeated.” If you want to talk with someone about long-term care options, Cindy is a good listener and can provide you with helpful information so you can make the best decision for yourself. She is willing to talk with you by phone, in person, or on Zoom if you wish. Cindy Eastman is an independent insurance advisor with Blue Pacific Insurance, LLC. Contact: 541-733-8383.  

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