Long-term care in Texas generally refers to a range of products and services that older persons may need to get through their daily lives. For example, one may need assistance in preparing meals, getting dressed, bathing, cleaning and the like. If one is disabled and in need of medical care, this may be done in the home or it may require in-patient care. Medicare pays essentially nothing for such services, and it is prudent for a couple or individual to do some vital long-term care planning.
The process of aging successfully is at least partly an art, according to some experts. The individual or married couple will do much better in later years if they have paid attention to their physical conditions, mental relaxation and cutting-edge nutritional benefits. For those who reside in Texas, having relationships early in life with experienced elder law attorneys is also a vital cog in the wheel of balanced aging.
Residents of Texas who are looking into long\-term care planning will be well-advised to take a look at different types of insurance as a major tool in the process. If one consults with an elder law attorney on the subject, the attorney will likely recommend looking into three or four different kinds of policies. One of those is life insurance.
Whether one resides in Texas or elsewhere, the are some common issues that arise often when discussing the making of a long-term care plan to cover the post-retirement years. There is not always a clear-cut answer to every question because it is not generally known in advance how much long\-term care planning a person will need or for how long it will have to continue. One fairly established statistic is that there is about a 70 percent chance that a person over 65 is going to need some type of long-term care, according to the U.S. Department of Health and Human Services.
The movie 'Still Alice' depicts a 50-year-old professor who suffers early on-set Alzheimer's. Despite the power of the story, the chances of this happening are very remote. However, a number of studies indicate that most people, including those who live in Texas, will need some form of long-term care after the age of 65. Accordingly, it is a good idea for someone in this age group to engage in long\-term care planning.
Planning for the future is important, particularly when it comes to health care. As Texas readers may know, many people have not saved and invested for their long-term needs, which could impact their ability to deal with medical emergencies in the future. Experts agree that long\-term care planning is important, but they believe that as many as two-thirds of Americans are under prepared.
Even affluent families residing in Texas must pay attention to their estate planning and long-term care planning needs. Sometimes, sibling rivalry can cause conflict in these families regarding how much will be left for the heirs to inherit. Rising costs, accidents, sudden total disabilities and other traumas may dent the family financial statement and create a danger spot with respect to the family's plans for taking care of an elderly member. Thus, long-term care planning is an important preparatory feature for the relatively wealthy as well as for the lower, middle and upper middle class members of society.
Hybrid insurance policies are replacing classic long-term care insurance in Texas and around the country. The classic long-term policy has a major disadvantage -- if the coverage is not needed by the insured individual, the premiums paid are totally lost with no return on the investment. That is why hybrid policies, which combine long-term care planning benefits with life insurance or a fixed annuity, are selling far better than traditional coverage.
The federal government recently announced certain financial expansions of Medicaid Services pertaining to long-term care facilities and other health care providers nationwide, including in Texas. The Centers for Medicare and Medicaid Services announced that it will permit states to request 90 percent enhanced matching funds to assist long-term care facilities and others to improve their services. This should prove to be positive news for the elderly population that currently struggles with the choices regarding home care and long-term care planning as well as how to fund the services.
The baby boomer generation's members are entering into their 70s, thus placing a need for many of their children to start thinking about the future care of their parents. This is a trend in Texas and nationwide that will grow in the next several years, considering that there are 75 million baby boomers in the country. For those with long-term care planning and perhaps a plan for Medicaid already in effect, there may be little strain placed on their children.