Planning for Long Term Care

As much as we want to avoid it, long-term care is a common reality of retirement. There are several options for preparing for long-term care and.
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LTC refers to services known as custodial care that you need when a chronic illness, cognitive impairment or disability limits your ability to perform daily activities. Care can be received at home, in an adult day care center, assisted living facility or nursing home. If you are healthy and active and have never experienced a LTC situation, being disabled is the last thing on your mind.

Consumer Guide to Long Term Care

My family will take care of me: Does your spouse or significant other work? Do your adult children care for their own children?


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Your family will always be there for you but do you want to change their lives because you need care? How many of you have talked to your own parents about LTC? The biggest impact is on your family. The stress on the primary caregiver would be immeasurable. For more information please contact one of our Personal Bankers today at Login Options Forgot Password. What is long-term care LTC? Misinformation about Medicare and Medicaid: When are visitors allowed, and what social activities are offered? Can residents continue to see their personal doctors? How does the facility compare with others?

What have you heard about the facility? Contact your local Better Business Bureau to check whether any complaints have been filed against the facility, and use tools such as Nursing Home Compare on the Medicare website. Ask a long-term care ombudsman — an official who investigates complaints against long-term care facilities — about the strengths and weaknesses of specific facilities.

To find a local ombudsman, use the Eldercare Locator, an online service of the U. Also, get opinions from friends and family who have experience with nursing homes. Ask your doctor for a recommendation and if he or she sees patients in any nursing homes. Social workers, hospital discharge planners and local agencies on aging might provide suggestions as well.


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    • Medicare, a federal program for people older than 65 and those who have certain disabilities, doesn't generally pay for long-term care. Medicaid, a joint state-federal program designed for people who meet certain income requirements, might be an option for adults who have limited assets or those who've nearly depleted their assets.

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    However, who's eligible for Medicaid and which services are covered varies by state. If you don't expect personal savings to cover the cost of long-term care, you might be able to finance long-term care through long-term care insurance. In exchange for monthly premiums, long-term care insurance covers nursing home care or other long-term care services.

    Premiums generally increase with the person's age, and coverage benefits vary significantly.

    If you're considering long-term care insurance, make sure the policy covers any pre-existing conditions as well as conditions that could develop later, such as dementia. Also check whether you can reduce coverage if the premiums become too expensive. Other options might include a reverse mortgage — in which you convert part of the equity in your home into cash — or the sale of a life insurance policy for the present value of the policy life settlement.

    Long-term care: Early planning pays off

    Be wary of risks and fees, however. Discuss the options with a lawyer or accountant. You might also contact a social worker or the local agency on aging. If you're researching long-term care options for a parent or other loved one, include your loved one in the process as much as possible. The idea of leaving home or receiving in-home help for everyday activities can be distressing.

    THE COMPLETE GUIDE TO LONG TERM CARE INSURANCE FOR RETIREMENT PLANNING

    The more you know about the options, the better choices you can make. Mayo Clinic does not endorse companies or products. Advertising revenue supports our not-for-profit mission. Any use of this site constitutes your agreement to the Terms and Conditions and Privacy Policy linked below.

    Planning for Long-Term Care

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