A study in U.S. NEWS & WORLD REPORT says that one in two Oregon residents over the age of 65 will need some kind of long-term health care. In the same report, it was also said that Medicare almost never pays for long-term care.
When you add in the fact that more and more younger people need some kind of long-term care because of an accident or illness, it becomes painfully clear that Oregon has never had a greater need for discount long-term health care.
What do we mean when we talk about long-term health care? What does it really cover?
Well, you need long term care if you get sick or hurt in a way that makes it hard for you to do things like get dressed, take a bath, make food, eat, or go to the bathroom on your own, like dressing, bathing, making food, eating, or going to the bathroom. Long-term care can last a few days, a few weeks, or even a few years.
A nursing home is the most obvious and maybe most visible form of long-term health care, but many people who need long-term care live at home and need an in-home health specialist every day or less often.
Long-term health care costs a lot of money. Most families don't have enough money to pay for long-term care without discount long-term health insurance.
There are 42 companies in Oregon that offer long-term health care insurance, which is good news. The bad news is that many people can't afford to pay for this kind of insurance because of how much it costs. What are some things you can do to lower the cost of your long-term health care insurance premiums each month?
If you are still young and healthy (as young as 40), now is a great time to look into a long-term health care policy. Why? Because an insurance policy will cost less if you buy it when you are younger. Check to see if your policy has a way to account for inflation. If it doesn't, by the time you need it, it could be woefully inadequate.
Get online and find an insurance site that lets you compare as many of the 42 companies in Oregon that offer long-term health care as you can side by side. Think about the different deductibles, lifetime payment caps, and types of help that are available until you find a plan that you both like and that you can afford.
Do not let yourself think that Medicare will take care of your long-term health needs once you turn 65. The sad truth is that Medicare pays almost nothing for any kind of long-term health care.
