Most people refuse to image that they will one day need help feeding, bathing and clothing themselves, or that they could ever need round-the-clock care in a private nursing home – yet according to recently-released census figures, almost 50% of all Missouri residents who live to age 65 will need such care at some point in their life.
The federal government’s Medicare program does not pay for long term health care. Many people mistakenly believe that Medicare will take care of all their health needs once they reach age 65 – unfortunately those people are wrong and could be in for a very rude awakening.
Missouri’s Medicaid program is somewhat more helpful with long term care than Medicare, but not by much. Before you are qualified to receive Medicaid assistance you must spend all of your personal assets. In other words, you must first become totally dependent on the state. Next you must accept the state’s assessment of your condition and accept the state’s mandated treatment program. And, possibly worst of all, you must accept treatment in whichever facility the state chooses for you.
Many people find such a scenario frightening in the extreme. If you want to insure that you do not end up in such a nightmare then you have only one choice – purchase long term health care while you are still able to.
Long term health care is not free, of course, but there are things you can do today to keep your costs as low as possible for the rest of your life.
Start by buying your long term health care insurance before your next birthday. With each birthday that you celebrate the cost of your long term care insurance goes up and up. Lock in the lowest price possible today.
If you are not already living a healthy lifestyle, start. Cut out all tobacco products in any form and lose weight. Stopping smoking and losing weight are two of the most difficult things you will be asked to do, but the benefits of doing both of those things will be enormous and last for the rest of your life – plus they will reduce the cost of your long term care insurance today.
If you have a dangerous job or if you drive a high-speed sports car or muscle car consider making a life change; activities which put your health at risk will drive up the cost of your long term health care insurance.
If you can, combine all of your insurance policies – long term health, auto, life and homeowner’s – into one insurance company. Most companies offer a nice multi-policy discount that can save you some serious change.
Go online and compare policies and prices. Many websites exist which allow you to quickly and easily compare the policies and prices at a number of insurance companies. Unfortunately no one single website compares all insurance companies, so in order to truly find the most affordable long term care insurance in Missouri you will have to enter all of your information onto the form on at least 3 different comparison websites.
Sure it’s a lot of work, but is it worth it Most people think so. After all, saving hundreds or even thousands of dollars a year, year after year makes one afternoon of work seem pretty insignificant.
Tags: clock care, health care insurance, living a healthy lifestyle, long term care insurance, long term health, long term health care, long term health care insurance, medicaid assistance, medicaid program, term care insurance