What every woman should know about long-term care

Published On: Jun 04 2013 11:31:37 AM HST
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(NewsUSA) - With women generally outliving men, planning for long-term care becomes more urgent for them in their pre-retirement years. After all, while longevity definitely has its upside -- including more time to enjoy travel and family -- there's no denying its biggest potential downside: the increased risk of health problems that can make caring for oneself difficult.

Today, seven in 10 nursing home residents are women.

They also represent a whopping 76 percent of assisted living residents, according to the latest statistics, and two-thirds of all home-care recipients.

And that care isn't necessarily what many would consider "affordable" -- unless you perhaps have the opportunity to enroll in the likes of the Federal Long Term Care Insurance Program (FLTCIP).

How Will You Pay for Care?

The most recent John Hancock Cost of Care Study puts the national average cost of a licensed home health aide at $20 per hour, with private and semiprivate nursing home rooms going for $235 and $207, respectively, a day.

Those costs aren't generally covered by health plans such as Medicare, the Defense Department's TRICARE, TRICARE for Life, or even the regular Federal Employees Health Benefits Program.

The Advantages of the FLTCIP

Established by an act of Congress in 2000 and overseen by the U.S. Office of Personnel Management, the program is tailored exclusively to meet the budgetary and lifestyle needs of what's referred to as "the federal family."


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