The Ramifications of Senior Long-Term Care Insurance
Statistics tells us that as we age and get older, that one out of two people will need some care over a long term of time. Long-term care is the type of care that a person needs when they have difficulty taking care of themselves. There are several personal care skills that we do each and every day; that can be hampered and make it difficult to live. The ability to feed ourselves, bathe ourselves, go to the bathroom, take our own medicine, get out of bed independently and dress ourselves are tasks that we take for granted. But if we are unable to perform them, then we may need long-term care to keep us alive. This type of care is very expensive, as the cost of a full care facility may cost as much as $40,000 a year. This takes into consideration not only 24-hour care from a physical tasks standpoint it also includes medical care. There is some very interesting and encouraging news coming out of Washington DC. President Signs Innovation Act, Expands Home Health Opportunties Long-awaited legislation that could allow more individuals to receive care services in their homes has been signed into law. President Obama recently signed the Innovation Act, opening up the Programs of All-Inclsuive Care for the Elderly (PACE) for people in need of nursing home level of care to receive these services at home. The bill was approved by Congress earlier this fall. Some of the major changes to the programs included getting rid of the age restriction for eligibility. Under the new regulations, anyone over the age of 21 who meets the criteria for nursing home care is eligible to be enrolled in a PACE program, rather than just those over the age of 55. The programs provide high levels of care for eligible patients in community-based settings, with the aim of keeping people out of higher-cost care settings such as nursing homes. This Innovation Act reduced the age and opened up opportunities for not only states, but entities to open up these programs and enroll more people in them, Eileen Sullivan-Marx, dean of the New York University College of Nursing and a former fellow with the Centers for Medicare and Medicaid Services (CMS) who worked on the legislation, tells Home Health Care News. There are a lot of demonstration models now and more to come that are looking at cost effective manners for keeping people at home, she tells HHCN. CMS can analyze the services to be cost effective with better patient health and better patient experience. At the end of the day, its about the triple aim: patient experience, better population health and cost effective quality care. Read the full story at this great resource homehealthcarenews.com BrightStar Care Premiun In-Home Care Staffing If you are looking for a in-home care provider BrightStar Care is a company that you should consider. They are a premium healthcare staffing company that provides the full continuum of care, from private homecare to people of all ages, to supplemental staffing for medical facilities. BrightStar Care is run by Shelly Sun who is one of the top leaders in the in-home care indurstry. She has won many awards and recognized for her achievements. Just one of Shellys achievements was being listing in Forbes The 50 Fastest-Growing Women Led Businesses In Amerca. The following video gives an overview of the services they offer. BrightStar Care: How We Shine BrightStar Care gives peace of mind to our clients by providing the highest quality healthcare staffing solutions to families and businesses. We empower our team to live our values and provide compassionate care and service. Any time. Any place. [embedded content] Shelly decided in 2005/2006 to begin offering franchises and then BrightStar Care Franchise was born. She was so successful with her franchising model that many felt that she should publish a book on her journey and her very successful business model. In 2011 Shelly Sun published Grow Smart, Risk Less and you can learn more about the book and about Shelly Sun here. Insurance that is sold to cover long-term care should be purchased when a person is younger, as the premiums will be more affordable. The policies are sold in units, as so many units will cover a particular daily amount for a certain period. For example, a policy might pay $200 a day for five years, and a certain premium for the policy might be charged at prices regulate by the persons age when the policy is first taken. Policies can be purchased as a stand-alone long-term care policy that provides a certain benefit at a certain time. As these types of policies have matured and become more and more sophisticated, different types of policies have evolved. Annuities can have long-term care riders that may or may not go into force, depending upon whether or not the need is there. A benefit of this type of setup is that if you never have to use long term care facilities, you have not spent all of your money, as you will have the value in the annuity. The same concept holds true for a permanent life insurance policy with a long-term care rider. If long-term care is not needed, you will have the cash value of the life insurance policy to offset the cost of the long-term care premiums. Long term care can certain be a fact for many people will face as they age, and it is something that can be planned for with insurance and other assets as well. http://www.yourareahometeam.ca/senior-long-term-care-insurance-news/
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