Whose Long Term Care Will Medicare Shoulder?

By Author: Suzanne Campbell
Total Articles: 36
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Many people think if they spend down their assets they will eventually get Medicare to cover their long term care (LTC) needs. How about you, what’s your take on this? Will Medicare pay for your long term care?

If your answer is yes, then you are among the big percentage of Americans who still confuse Medicare with Medicaid. It’s the latter that requires people to spend down their assets up to a certain amount if they want to receive LTC coverage. Medicare, on the other hand, is a government health insurance program designed for senior individuals who are 65 years old and older and in need of medical care.

Medicare also provides LTC coverage to younger people provided that they are disabled or they have end stage renal disease. Simply put, your health condition must be really worse for Medicare to take notice of you.

Medicare Part A clearly states that an individual should have been confined for at least three days in a hospital prior to his entry to a nursing home and the reason that he’s staying in this LTC facility is due to an illness that requires skilled nursing ...
... care. If he only requires custodial care or assistance with his activities of daily living (ADL) like eating, bathing, toileting, dressing, transferring, and continence, Medicare will not shoulder his expenses.

Suppose an individual has been admitted into a nursing home due to an illness that requires 24-hour care and monitoring, Medicaid will only pay in full his first 20 days. For his succeeding 80 days in the said facility, he has to accede to a co-payment.

Will Medicare Pay for Your Long Term Care?

Medicare is ideal for the very old and sick person. Now if you are nowhere near 65 and you unexpectedly figure in an accident, break your neck and subsequently require LTC, this national health insurance program will not provide you coverage.

Maybe Medicaid will take you in after you have spent down your assets but then again, this federal and state regulated health insurance program won’t guarantee a passport to topnotch LTC services as it strictly works on a strict budget.

You have to remember that Medicaid was not created just to cover people’s long term care. Its primary purpose is to provide health insurance to poor individuals and families with an income that is below the poverty level, and they happen to comprise a bigger percentage of the total population.

Medicare and Medicaid’s funds are obtained from taxpayers’ money and thus explaining the limited coverage that you can get from these programs. The only way that you can receive quality LTC someday is by structuring your personal plan.

Invest your money in a comprehensive long term care insurance (LTCI) policy as this will grant you access to any LTC setting of your choice. Contrary to what others think and say, you don’t have to spend a chunk of money for a single policy if you decide to buy it early. Now if you wait to retire before purchasing, you can’t blame the underwriters of LTCI firms for declining you or subjecting you to a pricey coverage.

Will Medicare pay for your long term care? Definitely not so take charge of your future health care needs. Contact a licensed LTCI agent in your area today.

Still looking for free long term care quote? We can give you free quotes and as well as long term care insurance costs in your state.