Peace of Mind with Long-Term Care…at Home

When the need arises for long-term health care, the vast majority of people would prefer to receive that care in their own homes.
In fact, more than 80% of the claims filed on long-term-care insurance policies are for care received at home.  A number of services are available to help care for an individual at home.

Some include homemaker aides, personal care attendants, social workers and professional medical care providers. The services offered will depend on the type and the extent of care needed. Care in the home can be quite costly.

The average hourly rate for a home health aide in 2010 is more than $22 per hour. In some cases, for those who need more extensive, round-the-clock care, it can be even more costly than care received in a skilled nursing home facility. The cost of long-term care can be devastating to one’s savings and other assets. If the need persists for many months or years, the expense could literally wipe out all funds set aside for retirement and other living expenses.

One way to help ease the burden of these costs is by purchasing a long-term-care insurance policy. While early long-term-care insurance policies offered benefits only for care received in a nursing facility, many policies today offer payment for a wide array of homecare services as well.  Often, the benefit amount for homecare is a percentage of the amount paid for care received in a facility – ranging typically between 50% and 100%. Benefits can also include additional homecare-related entities such as adult day care centers, transportation services and other community-based services.

For the peace of mind in knowing that some, or all, home healthcare expenses are covered, it’s worth it to consider purchasing a long-term-care insurance policy that includes home healthcare benefits.