The VA might provide LTC. The VA offers extended-care services, domi-
ciliary care, adult day care, respite care, and other services. A veteran might be eligible if he or she has a service-connected disability rating of 70 percent or greater, a 60 percent or greater disabil- ity rating and is unemployable, or a service-connected disabil- ity and simply needs such care. The services also are available for spouses of limited means. For most MOAA members,
however, the answer is that you — or someone you love — will pay for your LTC. You may choose to bear this risk yourself, divest yourself of as- sets and let the government pick up the tab, or transfer the risk to an insurance company through the purchase of an
LTC insurance policy. Most LTC insurance plans cover some or all of the costs to provide nursing home care, home health care, adult day care, or care in a group-living facility.
What are my options for funding LTC?
• You can self-insure. Many reject this option because they do not want to spend their assets on their own care.
• Insurance companies sometimes can advance an accelerated death benefit to help pay for care near the end of life. Check your plan’s features.
• You can qualify for Medicaid and allow the government to pay for your care. Medicaid pays for about half the LTC provided in this country. You don’t always get to choose how to receive this care or where you might live while receiving care.
Is LTC insurance part of your plans for the future?
MOAA endorses a service to assist members in the review and purchase of long term care insurance. Please call (800) 698-7943 for information.
• You can purchase LTC insurance. It’s not cheap — but, of course, neither is the care you receive. In 2009, the average cost of care in a facility
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