When reaching retirement age, many Americans think of their “next” life. Days filled with golf or working in the flowerbed, driving around the country in an RV, or buying a cabin near the shore to name a few. But something else they should be thinking about is how they’ll be able to cover the costs of long-term care in an assisted living community.
As we age, those day to day chores or trips may become too bothersome or even impossible. Whether it’s going to the grocery store, walking out to get the mail, or even preparing your meals. It’s hard to know exactly when to decide on assisted living – or how to pay for it.
Assisted living residential care may be needed when a parent or loved one needs help doing the dishes, using the restroom, or becomes just too much work for a family member. Perhaps a spouse needs a little extra help during a short-term recovery period after an accident or stroke.
If they have a work history of at least ten years, are 65 years of age older, or are otherwise disabled at any age, they may be eligible to receive Medicare health insurance benefits. Unfortunately, Medicare doesn’t have coverage for long-term care if it extends beyond 60 days.
If you feel you may need long-term care in a skilled nursing facility or assisted living residence, often called custodial care, you will be responsible for the cost after 60 days. Many of those costs may be taken care of with supplemental long-term care insurance.
Personal Care Services and Medicare
Part A and Part B, also known as Original Medicare, cover in-patient or doctor care costs at a hospital, skilled nursing facility, or nursing home care if it is not custodial or long term. Certain therapies, memory care, and durable equipment are also included under Original Medicare.
In some cases, what is accepted by Medicare or Medicaid differs from state to state. Although certain federal programs or laws that all Medicare health facilities must follow, each state decides what they feel should or shouldn’t be covered by Medicare. Coverage can even change from county to county!
Work with Experience
Will any of the cost of assisted living facilities be covered in the short term? Do you and your family agree a senior living community is best? At the end of life, how much will the surviving spouses be responsible for? While Medicare Parts A and B may cover some costs, it’s important to know which costs won’t be covered.
That’s why VibrantUSA was created. It is our mission to provide unbiased Medicare information to retirees and those with disabilities and their families. For those trying to learn more about Medicare, it’s hard to know for sure if you’re getting the most up to date explanations.
VibrantUSA Medicare insurance specialists make it their business to know upcoming changes, which health care professionals work with Medicare, and if supplemental insurance will be needed. During those initial consultations, they spend the time learning more about you the client than the checkbook.
Why? Because our clients don’t pay us a cent for our services. As an independent agency, we can choose from more than 50 plans from more than 30 different carriers. This means we can find the best fit – at the best price – for our clients. We are then compensated when a client enrolls in those plans.
Life after retirement can be an exciting time. Wouldn’t you rather spend your time taking advantage of your time? Request a free online quote from VibrantUSA, or contact a VibrantUSA office near you, to find out how we can help.