Paying for Long Term Care in Henderson, NV
Your family has several options to pay for your loved one’s long term care in Henderson or the surrounding area
After retirement, one of the most stressful scenarios for seniors is running out of money to pay for care. There are lots of programs and options that can help seniors afford the long term care they need. Your family should consider what kind of care is needed, how much assistance is required, and all of your senior care options. Then, you can look for programs that might be able to assist in long term care costs.
Medicare and Medicaid
As public health insurance programs, Medicare and Medicaid are commonly part of seniors’ strategies to help with care costs after retirement. Medicare might cover physician-prescribed home health care for the short term, such as after an illness or recovering from a surgery. Medicare may also cover hospice care. Medicaid generally covers nursing costs not covered by Medicare, and may include home care.
Long Term Care Insurance
Care insurance helps to protect seniors’ savings from being drained by long term care needs. Generally, this type of personal insurance is purchased before retirement. Your loved one will continue payments toward the policy after retirement. When looking for the right policy or provider, consider questions such as:
- What kind of care is covered? Nursing home care only, or are assisted living, at home care, and other care plans covered?
- Does the premium increase over time?
- Will your eligibility change over time, or due to changes in lifestyle, health, or marital status?
- Can the coverage be suspended or ended due to lifestyle, health, or other reasons?
- How long is the waiting period (or elimination period), during which you must pay for your own care?
Veterans Administration Aid
VA benefits remain popular among the Greatest Generation, and veterans of any age can take advantage of these services. A veteran who has served 90 days of active duty (with one day during a period of war) or their surviving spouse may be eligible for VA’s non-service connected disability pension in order to help pay for care. Check out www.va.gov to learn more about your potential eligibility.
Out of Pocket Payments
Costs that are not covered by insurance, Medicare, or another program will need to be paid for out of pocket. Retirement savings, pensions, and other assets can all become part of your plan to make these payments for long term care.
Talk with your family to decide what care plan will be right for your loved one. For more information on in-home caretaking and the long term care services provided by Comfort Keepers, contact our friendly staff in Henderson, NV and surrounding areas today.