Maybe you haven’t asked the question or had it presented to you before: in your Golden Years, if you face some type of medical emergency or an accident that makes it difficult for you to take care of yourself as you did in the past, what would you want to happen next?
The basic options available to you might include having family and friends help you out, moving to a nursing home, assisted living community, or some other independent living situation. Most people would prefer to age in place, or remain in the house they are most comfortable, possibly having lived there the majority of their adult life.
Some people may not have this option. That’s because if you don’t plan ahead, you may quickly find medical expenses and then (on top of that) spending a few weeks in a nursing home while you start the recovery process and then finally are able to be discharged consumes almost every dollar you saved throughout the 40+ years of working.
Wouldn’t it be great to still be able to remain home?
Even if you have trouble just getting up and walking around, would you prefer to be surrounded by comfortable things, your furniture, your neighbors, your own home? That certainly is the case for most people, but if you don’t have any money left over after paying the medical expenses and keeping up with the prescription medications your insurance doesn’t cover, will you be able to afford full-time home care on your own?
That’s why long-term care insurance becomes so instrumental. It allows people the opportunity (the luxury, if you will) of being able to choose where they recover following any type of medical emergency. It could take months or even years going to physical therapy before a senior is fully recovered. In some cases, full recovery may not be reasonable.
What’s going to happen if you require care for many, many years? That would have to be paid directly out-of-pocket unless you have no more income and assets to tap into at which point Medicaid may offer reimbursements for some of them.
However, the way the government is cutting back on reimbursement rates through Medicaid for in-home care, the way they’re slashing reimbursements to nursing homes, you may not have many options available if you’re completely dependent on these social programs.
By choosing a long-term care insurance policy now, you will have more empowerment to decide where you want to live, even if you struggle with daily tasks. If you would want to remain home, even if you struggle with activities of daily living, then consider a long-term care insurance policy now and contact long-term care insurance companies.
If you or a loved-one are considering Long-Term Care Insurance Companies in San Diego CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.
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