Whether you need long-term care depends on your level of disability. The chances of having long-term care usually increases with age, but long-term care may be needed at any age. It is important to recognize that at some point in your life you may need long term care. Therefore, you should think about how to pay for such care.
In 2005, statics showed 4.3% of all people age 65 and over in Wisconsin reside in a nursing home. As years went by, the percentage increased to 15% for persons above age 85. The numbers only prove, the longer a person lives, and the more likely it is that he or she will need some kind of long-term care.
Depending on every individual's medical needs, some people who have acute illnesses may need nursing home or home care only for short periods. Others may require treatment for several months or years. And since time arises as a supporting factor, the costs for long-term care vary depending on the kind of service and the duration it is received. This simply means the kind of long-term care services acquired can also be expensive if they are provided frequently or for a long period of time.
To make the choice much easier, there are three types of insurance policies made available in Wisconsin to cover long-term care expenses. These policies include long term care insurance policies, nursing home insurance policies and home health care insurance policies. These policies are set with minimum standards to grant more people eligibility to LTC by the Wisconsin Office of the Commissioner of Insurance.
For private individuals in Wisconsin, most long-term care is paid for by the people receiving the care or by their families. But, similar to other states, other sources of payment are also present which include Medicaid, Medicare, veterans' payments, and private insurance. Unfortunately, specifically for those who require extensive long-term care, these people are said to eventually "spend-down" their savings and other resources to become eligible for Medicaid – which actually happens to a lot of people in the US today.
To help aid in the increasing rate of long term care costs, the Community Options Program (COP) was developed in Wisconsin which aids in providing community-based long-term care services to some individuals who would otherwise need nursing home care. This COP offers a wide range of services including personal care, respite care, adult day care, transportation, and even necessary help with household chores. Eligibility for the program is through inquiring the states' local county aging unit or your local county social or human services department.
Moreover, Wisconsin has an estate recovery program in which the state seeks repayment of Medicaid payments for care received while the beneficiary resides in a nursing home. The program also seeks recovery of certain Medicaid benefits for non-institutionalized beneficiaries who are over 55. The ‘recov-ery' is made from the estate of a recipient or the estate of the recipient's spouse. An estate includes all assets owned by an individual at the time of death.
In 2005, statics showed 4.3% of all people age 65 and over in Wisconsin reside in a nursing home. As years went by, the percentage increased to 15% for persons above age 85. The numbers only prove, the longer a person lives, and the more likely it is that he or she will need some kind of long-term care.
Depending on every individual's medical needs, some people who have acute illnesses may need nursing home or home care only for short periods. Others may require treatment for several months or years. And since time arises as a supporting factor, the costs for long-term care vary depending on the kind of service and the duration it is received. This simply means the kind of long-term care services acquired can also be expensive if they are provided frequently or for a long period of time.
To make the choice much easier, there are three types of insurance policies made available in Wisconsin to cover long-term care expenses. These policies include long term care insurance policies, nursing home insurance policies and home health care insurance policies. These policies are set with minimum standards to grant more people eligibility to LTC by the Wisconsin Office of the Commissioner of Insurance.
For private individuals in Wisconsin, most long-term care is paid for by the people receiving the care or by their families. But, similar to other states, other sources of payment are also present which include Medicaid, Medicare, veterans' payments, and private insurance. Unfortunately, specifically for those who require extensive long-term care, these people are said to eventually "spend-down" their savings and other resources to become eligible for Medicaid – which actually happens to a lot of people in the US today.
To help aid in the increasing rate of long term care costs, the Community Options Program (COP) was developed in Wisconsin which aids in providing community-based long-term care services to some individuals who would otherwise need nursing home care. This COP offers a wide range of services including personal care, respite care, adult day care, transportation, and even necessary help with household chores. Eligibility for the program is through inquiring the states' local county aging unit or your local county social or human services department.
Moreover, Wisconsin has an estate recovery program in which the state seeks repayment of Medicaid payments for care received while the beneficiary resides in a nursing home. The program also seeks recovery of certain Medicaid benefits for non-institutionalized beneficiaries who are over 55. The ‘recov-ery' is made from the estate of a recipient or the estate of the recipient's spouse. An estate includes all assets owned by an individual at the time of death.