The Essentials of Long-term Care

Long term services in Colorado can take on many different meanings, depending on the age and physical or mental state of a patient. Different factors, including the patient’s health or disability needs, can determine the type of care needed to make life easier over a long period of time.

Choosing the right plan for long term care can ease stress down the road. The Colorado Long-Term Care Partnership is an arrangement between long term care insurers, Colorado’s Medicaid plan, the Division of Insurance, the Department of Human Services, and Colorado residents. The LTC Partnership allows Colorado citizens to have more control over their assets later in life, also assisting with the following services:

• Management of citizens’ resources to pay for long term care
• Nursing home facilities
• Home and community based services
• Medicaid services (depending on individual eligibility)

Determining the types of plans for later in life depend on income and individual circumstances; however, Colorado State University Extension is one source that provides detailed information on long-term care. Studies from CSU Extension show that 70 percent of people aged 65 or older will need some level of long term care at home. Health care premiums depend on age and health status upon policy purchase. Those seeking long term care are given a number of payment options, as Medicare does not cover long term care expenses. Payment options for services include self insurance, Medicaid, life insurance or annuities, or long term care insurance. Choosing long term care is often an emotional process, but selecting the right service can help prevent personal and financial issues in the future.