LP5.1 Assignment: Aging Parents
Welcome to week six where we will learn about Long Term Care Reimbursement and Quality. Many of us are under the assumption that long term care is automatically paid for by our health insurance or state funds but this is almost always not the case. It is important that we understand who provides long term care coverage and who qualifies for it so that we can be prepared for this in the future as needs may arise.
Prepare a 3-4 page, double-spaced paper (cite 3-4 reliable sources) that addresses the following scenario:
You are helping your parents, ages 62 and 64, plan their retirement and financial future.
• Research and discuss options for seniors’ long-term care, including programs through Medicare, Medicaid, managed care, and other private insurance, etc.
• What will you tell them about the potential need for, and costs of, long-term care? What about long-term care insurance?
• How will you advise them to prepare financially to cover their health needs and related issues as they age, based on their income, current payer coverage and current and future needs? Be specific.
• Detail trends affecting long-term care reimbursement and national spending from federal, state, and personal perspectives.
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