Most health insurance plans only pay for short-term care needs. Do you know if your current health care insurance would pay if you needed long-term care? Review your policies with your insurance advisor or employer’s benefits counselor.
Perhaps you don’t have long-term services and supports coverage or want to pay using your own resources. Would you be able to cover all the costs with your retirement income and savings?
Consider how you feel about using your own funds to pay for long-term services and supports. Resources could include:
Very few government programs will help pay your long-term services and supports expenses. Those that do have strict limits on who is eligible and what is covered. Most people won't qualify for Medicaid for long-term services and supports.
Make sure you understand what long-term services and supports Medicare and Medicaid will and won’t fund.
Consider all your financing options. This could include Long-term care insurance. Make sure you understand all the details, eligibility requirements and costs. It may be best to combine financing options.
ADRC of Oregon staff are available to help you explore your options to meet your current needs or create a plan for the future.
Find information, resources and tools to help you start planning.
Calculate your future long-term services and supports expenses.
Estimate your likely future financial resources.