Myths Vs. Reality when it comes to Paying for Long Term or In Home Care

Myth: Medicare or Medicaid will pay for it.

Fact: Medicare only pays for limited care after a hospitalization and only after certain requirements are met. For example, a Medicare Certified Home Health Agency may send a nurse for 3 visits, or a Home Health Aide for 2 visits over a 3 week period. Medicaid only pays for people who are very impoverished, typically with less than $2,000 of assets.

Myth: I have health insurance that will pay for what I need.

Fact: Health Insurance that most workers or families have for medical coverage typically covers only very limited long term care services related to acute health care treatments.

Myth: I probably won’t need it, at least until I’m much older.

Fact: C.N.A Long Term Care insurance reports that 40% of claims are made by people between the age of 18 and 65. The number of people using nursing facilities, alternative residential care places, or home care services is projected to increase from 15 million in 2000 to 27 million in 2050 (HHS, 2003).

Myth: It won’t cost that much.

Fact: Unfortunately, due to wage pressures, including increases in minimum wage and increasing regulation, the cost of quality in home care continues to rise. We work with families to create a plan that fits their budget and allows for the most efficient care possible. We also recommend that young people save now for anticipated long term care costs.