LTCIndiana
Long Term Insurance - An All American Solution
Long Term Care insurance is an excellent way to make sure your care is paid for. Medicare is a short-term acute-care program. Medicaid should be considered your program of last resort. Traditional health insurance policies cover short-term care. With many people living for 20 to 30 years after retirement, how can middle-class Hoosiers maintain their independence without becoming a financial burden to their familes? Long Term Care insurance is the best deal running, and yet, not enough Hoosiers are taking advantage of this great financial tool.
Paying for Home Care, Hospice, and Long Term Care.
Home care and hospice services are paid for through many sources. If you are relying on government programs, it is unlikely that any one program will cover all your needs. It usually takes some combination of Medicare, Medicaid, private insurance or personal assets to maintain an individual at home. The sad fact of the matter is that few consumers have planned how they will finance their long term care - whether through home care, adult day services, assisted living, nursing facility or hospice.
What do Long Term Care Services Cost in Indiana?
Home Care needs vary greatly. Home Health Aide care averages about $18 to $21 per hour (32 hrs / week = $30,000 to $50,000) annually. Assisted Living Facilities generally cost $1800 - $2600 / month. Adult Day Care ranges $8,000 - $12,000 per year. Nursing Facilities average $160-180/day ($58,000 to $65,000 annually). Expected LTC inflation: minimum 5% per year.
Who Needs Long Term Care?
Most of us! Seven out of ten people will need home health care during their lifetime. Currently over 40% of Americans receiving long term care are between 18-64 years of age. One in two women and one in three men will need nursing facility care in their lifetimes.
Find Quality LTC Insurance.
The Indiana Association for Home & Hospice Care provides referrals to a limited panel of approved LTC insurance agents. Please email us for more information.
Long Term Care insurance is an excellent way to make sure your care is paid for. Medicare is a short-term acute-care program. Medicaid should be considered your program of last resort. Traditional health insurance policies cover short-term care. With many people living for 20 to 30 years after retirement, how can middle-class Hoosiers maintain their independence without becoming a financial burden to their familes? Long Term Care insurance is the best deal running, and yet, not enough Hoosiers are taking advantage of this great financial tool.
Paying for Home Care, Hospice, and Long Term Care.
Home care and hospice services are paid for through many sources. If you are relying on government programs, it is unlikely that any one program will cover all your needs. It usually takes some combination of Medicare, Medicaid, private insurance or personal assets to maintain an individual at home. The sad fact of the matter is that few consumers have planned how they will finance their long term care - whether through home care, adult day services, assisted living, nursing facility or hospice.
What do Long Term Care Services Cost in Indiana?
Home Care needs vary greatly. Home Health Aide care averages about $18 to $21 per hour (32 hrs / week = $30,000 to $50,000) annually. Assisted Living Facilities generally cost $1800 - $2600 / month. Adult Day Care ranges $8,000 - $12,000 per year. Nursing Facilities average $160-180/day ($58,000 to $65,000 annually). Expected LTC inflation: minimum 5% per year.
Who Needs Long Term Care?
Most of us! Seven out of ten people will need home health care during their lifetime. Currently over 40% of Americans receiving long term care are between 18-64 years of age. One in two women and one in three men will need nursing facility care in their lifetimes.
Find Quality LTC Insurance.
The Indiana Association for Home & Hospice Care provides referrals to a limited panel of approved LTC insurance agents. Please email us for more information.