What You Should Know About Long-Term Care

Introduction

Cost of Care

Risks

Who Pays

Medicare

Medi-Cal

Family

Self Insurance

LTC Insurance

More Info

Home Care
How long does it take for an older person or a couple to become impoverished after beginning to receive extensive home care? 21% of single elderly persons living alone become impoverished almost immediately; 48% become impoverished within six months; and 57% become impoverished within one year of receiving extensive home care. For couples, the statistics are a little better: 22% become impoverished within six months, and 33% within one-year.

Nursing Home Care
Nursing home care takes an even bigger toll. 58% of singles become impoverished within six months of entering a nursing home; 67% within one year. For couples, 34% impoverish themselves within six months; 46% are impoverished within one year.

Medi-Cal
Most Californian's spend their sunset years in an impoverished way. The California game plan so far has worked like this: Spend-down your own assets until you are broke, then go on Medi-Cal. 64% of all nursing home costs are paid for by Medi-Cal. In approaching long-term care like this, Californians have sacrificed their independence.