Long Term Care Myths


Myth 1

I’m too young to need long term care
Most of us associate long-term care with age. But it is always not so. Any of us might need long-term care at any time. Susceptibility to accidents, chronic illness and disabilities may require that we seek long-term care. So, it is always better to prepare ourselves for long-term care and especially so if we have crossed 40 years of age.

Myth 2

My family will take care of me
Today when children live away from their families depending on them for long-term care would not be a very good idea. The ever growing working hours and the shortening vacations back home makes it even more unreasonable to depend on them for long-term care. This is a time consuming affair and if it is not given the proper care required, you may fall into trouble.

The best option would be to sign up for a long-term insurance plan while you still can do it yourself.

Myth 3

Medicare or Medicaid will cover my bills
Even if you have Medicare or Medicaid, remember it is only going to pay for limited amounts of skilled care following a hospital stay. It does not intend to cover care that requires assisting people with activities of daily life for long periods of time.

To be more specific, Medicare only covers the first 100 days of skilled care in a nursing home after you have been hospitalized for at least 3 days. It also covers your cost for as long as you enter a nursing home within 30 days of leaving the hospital. For more on Medicare read www.medicare.gov.

Medicaid might cover you if you meet your state’s poverty criteria and if you have received care that meets your state’s guidelines. You can read more on Medicaid in the Medicaid section of www.cms.gov.

Myth 4

Health insurance will cover my bills
It is only on rare occasions that health care covers chronic cases. Most of the health care including FEHB, TRICARE and TRICARE for life cover skilled, short term medical care after or as you recover from an illness or injury.

Myth 5

I can take care and save enough on my own
You can pay for long-term care from your personal savings. But considering the cost, this seems to be an unreasonable option. For more information visit www.ltcfeds.com and check the common LTC myths under LTC basics.