Long-Term Care Planning
Don’t put off planning because it seems far away. Having a health care plan in place gives you and your loved ones peace of mind.
Advance Directives for Health Care
Many put off planning thinking they have plenty of time or are reluctant to talk about health, aging, or end-of-life issues. Circumstances can change in an instant. Would your loved ones know what to do if something like this happened? If you haven’t already, consider completing an advance directive so your loved ones have all the information they need should a health care crisis ever arise.
A health care power of attorney and living will are types of advance directives related to health care. A health care power of attorney allows you to appoint someone to make health care decisions for you if you can no longer make them yourself. A living will is a document identifying your wishes in regard to certain life-sustaining procedures. You will still receive medical care without an advance directive, but it might not be the care you want.
Sharing Information
If something happened to you, would others know where to find important information? You don’t have to disclose specifics, but tell a loved one the location of documents like life insurance policies, wills, funeral plans, banking, and investment information. Make sure someone knows how to contact your physicians and where to find a list of your medications. Finally, many people bank and pay bills online. Make a list of sites you use and the username and passwords so they can be accessed if necessary.
Future Care Needs
When people think of health care, they often think of doctor visits or hospital stays, but if you ever find yourself dealing with an illness, injury, or recovery, you may qualify for home health services that bring skilled care like nursing and therapy to you. Many don’t realize that as they age, they may need help with things like dressing or bathing. While Medicare and most private insurances cover skilled care, they don’t typically cover these kinds of non-medical care, so planning ahead is very important. For people who want to stay at home both skilled and non-medical care can be essential. That’s why it’s important to look into your options now while you are healthy.
While it can be difficult to think about, planning for end-of-life is just as important. Most people prefer to remain at home, whether it is their own home, a relative’s home, senior apartments, or assisted living facility. Hospice is designed to help make that happen by supporting both the patient and their loved ones throughout the process.
Planning for Costs
Don’t forget to plan for the cost of care. Not all insurances cover all types of care. For example, most private insurance and Medicare will pay for certain types of home health care or hospice, but don’t typically cover long-term care like nursing home stays or assistance with daily activities in the home. For that, you need long-term care insurance. Costs can vary based on your age, policy, and the coverage you select.