Long Term Care Solutions

long term care solutionsThe Baron Group provides a number of state of the art Long Term Care (LTC) solutions to meet the long-term care needs of consumers.

We strive to market only the top quality products from companies that are committed to the Long-Term Care market.  In addition to the standard LTC policy, there are a number of hybrid products and asset based solution now available in today’s market.

Research shows that about 70 percent of people age 65 or older will need long term care services at some point in their lifetime. And while most people think of long term care as impacting only those in senior years, estimates are as high as 40 percent of people currently receiving long term care services between the ages of 18 to 64.

Whether you are looking for information for yourself or for a loved one, it is important to understand what long-term care is and how it pertains to you.

Understanding Long Term Care

Having a better understanding of long-term care will help you know which solutions best serve your needs.

Long Term care has a range of services and support mechanisms you may need to meet your health or personal needs over a long period of time. Long term care is different from medical care and suggests the notion of assistance with the basic personal tasks of everyday life, sometimes called “Activities of Daily Living,” such as:

  • Bathing
  • Dressing
  • Using the toilet
  • Transferring ( To or from bed to chair)
  • Caring for incontinence
  • Eating

Other common long-term care services and supports are assistance to complete what is called Instrumental Activities of Daily Living. These are household and other tasks that you may do every day, such as:

  • Housework
  • Preparing and cleaning up after meals
  • Taking medication
  • Shopping for groceries or clothes
  • Managing finances

Types of care

Skilled Care vs. Custodial Care
At the highest level there are two types of care, skilled and custodial care. Skilled care describes services that can be given only by skilled or licensed medical personnel. Custodial care (also called non-skilled care) helps with activities of daily living (ADLs), such as bathing, dressing and eating. This is typical for seniors with Alzheimer’s / dementia. Both skilled and custodial care can be provided at home, in adult day care or in residential care such as nursing home or assisted living.

Palliative Care and Hospice Care

Palliative is a type of medical care which focuses on relieving patients from their pain and suffering instead of medical care with the objective curing or treating the underlying conditions. Hospice care, on the other hand is an encompassing approach to treat terminally ill patients in the last weeks or months of their lives. While hospice very often includes palliative care, not all persons receiving palliative care are in hospice.

Care locations and type of care provided

Home Care Aides provide at-home, non-medical assistance to seniors such as helping with personal hygiene, laundry, cooking and transportation. Typically they visit a home several times a week for visits lasting from 2 – 8 hours.

Home Health Aides offer skilled care such as checking patients’ pulse, temperature and respiration and assisting with medical equipment such as ventilators. They will visit the home as much as medically necessary but typically for shorter periods of time than Home Care Aide visits.

Adult Day Care provides elders with supervision and social activities in a structured setting during daytime hours

Assisted Living Residences provide help with activities of daily living including basic health services, recreational and social activities. Cost is usually made up of monthly rent with additional fees based on the level of attention the resident requires.

Skilled Nursing Residences offer 24/7 care by licensed health professionals including all housekeeping, medical and social needs.

Costs of Long Term Care

The answer depends both on the type and extent of care required and one’s geographic location within the US.  Here are a couple examples of senior care services and residential living situations and their average 2012 annual cost here in Monroe , Louisiana.

Assisted Living Facility – Private, One bedroom $29,400 per year

Nursing Home Care – Private Room  $53,272 per year

These costs are rising each year with estimates as high as 2% – 7%

Request – Free Executive summary -Genworth 2012 Cost of care survey

Request – Louisiana State Specific Data

If you are interested in educating yourself  on the potential  LTC solutions available in today’s changing marketplace,  then complete the  request form.   We can help design a innovative solution around your current financial situation and coverage goals.

If you, a family member, a friend, or fellow veteran are currently receiving long term care,  there may be Veteran benefits available to help offset the cost.   Additionally there may be some extensive tax benefits available by doing the right tax planning. Our team is an expert in this area and can educate you regarding your individual situation.

Disclaimer: The information provided is only intended to be general summary information to the public. It is not intended to take the place of either the written law or regulations. We make every effort to provide accurate and up to date information.