Archive for April, 2011
Misconceptions about the Need for Long Term Care and Who Provides It
A large majority of the American public still believes that the government will provide long term care when needed. It is this misconception that most likely prevents people from planning care for themselves. In fact, a recent study revealed that many people believe they can give away assets prior to the need for long term care and qualify for Medicaid. The study supports the premise that this knowledge prevents people from considering buying long term care insurance as a way to fund the cost of future care.
Indeed it may be possible to use the system and allow Medicaid to cover care but at what cost? Why would anyone want to plan to spend his remaining years in a nursing home–which is the preferred living arrangement of Medicaid? Why go through the expense and effort of trying to manipulate the system to get welfare care, when a little preplanning at an earlier age would be a better option?
Tags: antiquated system, future care, government systems, living arrangement, long term care, long term care insurance, national aging network, sponsored program, term care insurance, veterans administrationRelated posts
About the Medical Aid sector in South Africa and what to look for
South Africa has over 40 medical schemes that are open to the public and around 120 private medical schemes totalling around 7 million beneficiaries. The total annual contribution to medical schemes is around R30-billion (according to the Council for Medical Schemes – 2006).
Tags: high quality medical care, medical aid scheme, medical care facilities, medical package, medical scheme, medical schemes, organisation specialising, private hospitals, private medical care, quality medical care