The Critical Necessity Of Medicaid For Managing Long-Term Care

As people age their bodies begin shutting down in a variety of ways. This can be a serious problem for those who suffer from chronic illnesses that make long-term care necessary. However Medicaid can help these people get the care they need to remain happy and healthy.

Long-Term Care Is A Likelihood For Many

Studies have shown that an increasing number of elderly people will need crucial long-term care later in life. The Department of Health and Human Services has stated that about 70 percent of all senior citizens (age 65 and older) will likely need to get help managing a serious and chronic illness.

Frighteningly, they also found that no more than one-third of all Americans over the age of 50 actually saved money for their long-term care. This puts them at serious risk for financial struggles later in life when long-term healthcare may be necessary.

These Costs Can Be High

Day-to-day long-term health care can be expensive. For example, people who live in a semi-private nursing home can pay up to $205 per day, while those with a private room can pay up to $229 per day. Assisted living facilities can cost over $3,000 per month. Even in-home health aides and homemaker services can cost upwards of $20 per hour.

For most people, these costs are going to be prohibitive to their treatment. Few people can afford that kind of investment, especially later in life when they don't have a regular income. However Medicaid is one powerful way to help manage this problematic situation.

Ways That Medicaid Can Help

Medicaid is an insurance coverage program that helps those who can't pay for coverage receive the care they need to survive. It typically kicks in for those who have less than $2,000 in assets. These assets don't include items like a house, as a home is necessary for daily living. If a person qualifies for Medicaid, they can help with long-term care by providing coverage for:

  • Daily treatment
  • Medication
  • Care equipment
  • Wages for care workers

Qualifying for Medicaid late in life is something that many older adults have no trouble managing. This is particularly true of those who had no retirement plan or who worked a low-income job for most of their life. It is a crucial way of keeping their quality of life as high as possible.

As a result, it is important for those who believe they'll need long-term care to apply for Medicaid. It will typically be given out on a case-by-case basis to those who truly need it, especially those who have a hard time otherwise paying their personal bills.