It is very important to know that Medicare is limited to medically-necessary part-time or intermittent skilled nursing care, or physical therapy, speech-language pathology, or a continuing need for occupational therapy. A doctor must order your care, and a Medicare-certified home health agency must provide it. Skilled care is care that is administered by someone who has a license, a nurse, a therapist, a doctor. Skilled care has recovery as its goal. This confusion might explain why 54% of Baby Boomers believe Medicare pays for an extended care event or long term care, which typically starts at home after being in a skilled rehab facility. Medicare/Health Insurance is acute skilled care, care that is supposed to make you better. With Long-Term care, most of the time there is no recovery and is primarily custodial care or focusing on “Caring” not curing.
The financial consequences of needing care can be significant and again, arguably the single biggest financial risk most of us face, especially for women because we live longer. It's important to have a plan in place to ensure you remain independent, protect your assets and not burden your children.
Allison Payne
Long Term Care Specialist
LTC Financial Partners
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It is very important to know that Medicare is limited to medically-necessary part-time or intermittent skilled nursing care, or physical therapy, speech-language pathology, or a continuing need for occupational therapy. A doctor must order your care, and a Medicare-certified home health agency must provide it. Skilled care is care that is administered by someone who has a license, a nurse, a therapist, a doctor. Skilled care has recovery as its goal. This confusion might explain why 54% of Baby Boomers believe Medicare pays for an extended care event or long term care, which typically starts at home after being in a skilled rehab facility. Medicare/Health Insurance is acute skilled care, care that is supposed to make you better. With Long-Term care, most of the time there is no recovery and is primarily custodial care or focusing on “Caring” not curing.
May 28, 2011 - 9:36amThe financial consequences of needing care can be significant and again, arguably the single biggest financial risk most of us face, especially for women because we live longer. It's important to have a plan in place to ensure you remain independent, protect your assets and not burden your children.
Allison Payne
Long Term Care Specialist
LTC Financial Partners
This Comment
Reply