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What Is Long Term Care?
Long-Term Care provides for the day-in, day-out assistance you
need when a serious illness or disability renders you unable -
physically or cognitively - to care for yourself for a lengthy
period of time. Long-term care can be provided at home or at a
nursing facility, assisted living or alternate care facility.
In keeping
with the trend toward home health care options, CNA's long-term
care plans provide a range of services to help you live
comfortably in your preferred environment. Each plan also
prepares for the eventuality that your needs may someday require
a nursing facility.
Is Long Term Care Right For
You?
Take a moment
to consider the following statistics from the U.S. Department of
Health and Human Services:
-
60% of people over age 65 will require long-term care
during their lifetime.
(Washington Post, April 1996)
-
Medicare and Medicaid will pay only a fraction of the costs
of long-term care
(Department of Health and Human Services, 1991)
- The
average cost of nursing home care is about $100 per day. The
average stay is 2½ years, which translates to a
total cost of about $100,000 per stay.
(Department of Health and Human Services, 1991)
Investing
in a long-term care plan represents an important step toward
securing peace of mind and financial security in the most
important years of your life. Your plan should provide you with
maximum protection against the potentially catastrophic costs of
long-term health care while enabling you to help preserve your
resources.
What about Medicare and
Medicaid?
It is a
common misconception that Medicare and Medicaid will cover the
costs of long-term care. The reality is that the percentages
each source contributes to the costs of long-term care today
are:
Medicare: 8%
Medicaid: 45%
This
leaves you responsible for paying the other half of the
expenses, $50,000 on average, based on the Department of
Health and Human Services statistics above.
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