Aging Connection: April 2008 - Ohio Department of Aging

Aging Connection

April 2008

Long-term Care Planning: Own Your Future

70 percent of people over age 65 require some services Consumer surveys show that many people don't realize that health insurance, Medicare and disability coverage do not pay for most long-term care services. State Medicaid programs cover some long-term care services, but only for people who have a low income and few resources. The result is that most people who need long-term care end up paying for some or all of their care on their own.

Since approximately 70 percent of people over age 65 require some services and the likelihood of needing care increases as we age, planning ahead for long-term care needs becomes vital.

Yet, most people first learn about long-term care when they or a loved one need assistance. At that point, their options are limited by the immediate need for services, lack of information and insufficient resources to pay for preferred services. Planning ahead can ensure consumers a range of options and more choice in the care they receive with less impact on their bank accounts.

Steps to creating a solid plan for your long-term care needs include:

Making a financial plan - Create a plan that takes into account your personal financial situation and family circumstances. While costs for nursing home care vary widely, they average about $6,350 a month, mounting to $60,000 to $70,000, or more, annually. People who receive long-term care services at home spend an average of $1,600 a month.
Giving clear direction - Do your family members know your preferences regarding long-term care? Put your wishes in writing, just in case you cannot speak for yourself or lose the ability to make decisions for yourself. Vital documents such as a living will, durable power-of-attorney for health care and health care proxy give you peace of mind and make sure your wishes are followed.
Seeking a support system - Talk to someone who can help you make decisions before you need services. Sometimes family members or friends can help. For others, volunteers or agencies can provide assistance. Your church, doctor, local social service agency or hospital can also help you find out what services are available at no or low cost.
Focusing on your home - How can your home be modified to accomodate your needs as you age? Homes that are easy to live in at age 50 can present problems later in life. Some improvements can be inexpensive, like removing throw rugs or replacing doorknobs. Bigger changes may include adding railings to outside steps or adding a bathroom to the ground floor. Most of these modifications will not only make your home safer for you, but also actually increase its value.
Considering long-term care insurance - These policies can help pay for many types of long-term care, but they are not for everyone. Compare the costs and benefits of policies from different insurance companies when shopping. If you decide to buy, make sure you work with a reliable company that is licensed by the state to sell long-term care insurance.

Your Area Agency on Aging can provide information about the services available in your area. Call toll-free 1-866-243-5678 to be connected to the agency serving your community and request a free long-term care assesment.

The Ohio Senior Health Insurance Information Program (OSHIIP) helps older Ohioans better understand and use the various insurance policies, health services, programs and benefits available. Call the statewide hotline at 1-800-686-1578 to talk to an OSHIIP counselor.

This spring, the Ohio Departments of Aging, Insurance and Job and Family Services will partner with the U.S. Department of Health and Human Services to bring the national Own Your Future campaign to Ohio. The campaign will include public service announcements, a targeted direct-mail campaign and regional forums. The cornerstone of the campaign, a free, Ohio-specific long-term care planning guide, and other resources are available online at www.longtermcare.gov.

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