Long-term health care includes much more than just nursing home care for the elderly. Today's long-term care can refer to a wide variety of:

• health care
• rehabilitative services
• personal care
• social services

for people who, due to illness or disability, need special assistance with daily activities. One of the most common times that people use a convalescent nursing facility is when they need continued medical care and rehabilitation therapy during recuperation from an illness or injury after being discharged from the hospital.

How Much Does Long Term Health Care Cost?

The cost for a convalescent center stay ranges from $30,000 to $40,000 per year. Some experts predict that this number will reach $83,000 by the year 2010.

What About Medicare and Medicaid?

Medicare policies contain only a limited amount for Skilled Nursing Care and nothing for care that is considered Intermediate or Custodial.

Medicaid is a federal and state program that covers medical bills for the needy. If you qualify, it will pay for your long-term care expenses. In order to qualify for Medicaid, you will have to have essentially no assets.

Long-Term Care Insurance

What does long-term care insurance do for you? It can:

• enable you to keep your assets
• protect your spouse's quality of life and independence
• protect your family home and estate
• protect your business and other personal property
• allow you to maintain your independence
• provide cash so that you may choose the long-term care options that you feel are most suitable for you

From Which Kinds of Policies Can I Choose?

Generally speaking, there are three different types of policies. There are those that cover:

• nursing home stays
• home health care
• nursing home stays and home health care

It is important to work with an experienced insurance professional when purchasing this type of insurance.

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