What to know about long term care plans?
As much as we hate to admit it, we’re not getting any younger. Each of us will grow old and in time will not be able to manage the activities of daily living which includes the following: personal hygiene and grooming, dressing and undressing, feeding oneself, functional transfers, voluntary controlling urinary or fecal discharge, elimination and ambulation. When this time comes, will there be someone to assist us in doing such activities? Will we need to get into a nursing facility and lose the independence that we relish?
With long term care plans, we are guaranteed a secure health care and may even be able to stay in our own home longer. Yes, you read it right. It is a common misconception for many that long term care insurance is nursing home insurance when in fact it’s not. Though we have the option to get into a facility, we also have the option to remain in our homes and keep our independence.
There are various comprehensive policies available in the market today. They cover care and services in various settings. One of which is in-home care. Although there are outstanding out-of-home care services that are available, most elderly will still choose not to be taken away from their families and instead opt to avail of in-home care. This includes skilled nursing care, help in personal care, meal preparation, and speech and physical rehabilitation therapy; to name a few. Other available settings are adult day health care centres, respite care, hospice care, alternate care facilities, special care facilities and nursing homes.
Another mistaken belief regarding long term care plans is that you have to be sick to be able to use it. The truth, however, is that a person may be healthy but is just unable to do one or two of the daily living activities like having trouble bathing or dressing. Thus, they too may need long term care.
Some may regret to consider that by purchasing LTC plans early on, we may budget the financial service that we need in advance. We can customize the coverage limits according to our possible needs. Unlike if we avail of long term care for an immediate purpose, we fail to save money and may even lose some assets in the process.
Aside from the ADLS (activities of daily living) that were mentioned above, people who need help with their IADLs (additional activities necessary for independence) also require long term care plans. These IADLs are meal preparation, managing money, managing medications, using the telephone, doing light housework and shopping for groceries and other necessities. These activities may seem simple to us while we’re young and healthy, but when we’re age 65 or older, we will definitely need someone to help us with such mundane tasks.
As early as now, we must not take for granted the benefits of availing LTC plans. After all, this ultimately is for us to be secured of a proper health care service in our prime years.