Long Term Care refers to a variety of services designed to meet a person's health or personal care needs during a period of time in which an individual requires assistance to perform everyday tasks like bathing, dressing, eating, or using the bathroom. Long Term Care can be provided at home, in the community, in assisted living or nursing home facilities. It generally includes help with daily activities an individual can no longer handle alone due to a chronic illness, disability, or the aging process.

Types of Long Term Care

Home Health Care

Home health care services offer a way for individuals to receive medical care and assistance with daily tasks like bathing, dressing, or meal preparation in the familiar surroundings of their own home. Services are usually provided by home health aides or personal care aides and can include skilled nursing care, physical or occupational therapy, and more. This type of care allows individuals to receive support while maintaining independence for as long as possible.

Adult Day Care

For individuals who do not require round-the-clock care but still need supervision and assistance during the day, adult day care programs offer a good option. These community-based centers provide social activities, meals, therapies and supervision for several hours per day. This gives family caregivers a break from full-time responsibilities while still allowing their loved one to socialize and be engaged.

Respite Care

Respite care offers temporary or periodic relief to caregivers who assist aging parents or relatives with disabilities. It can take place in the individual's home on a short-term basis or in a residential facility for a limited stay of several days or weeks. This "time-off" helps caregivers avoid burnout so they can continue caring for their loved one long-term.

Assisted Living Facilities

Assisted living communities offer private apartments or rooms along with personal care assistance and health monitoring. Residents can receive help with medications, bathing, dressing and other daily tasks while enjoying activities and meals. Care levels are flexible to meet changing needs as health declines. Memory care units provide a safe, structured environment for those with dementia.

Nursing Homes

Nursing homes, also known as skilled nursing facilities, care for individuals who require 24-hour medical care, therapy or assistance with daily activities such as bathing, eating and using the bathroom. Staff includes nurses, certified nursing assistants and other medical professionals able to handle complex conditions and serious illnesses. High levels of nursing and rehabilitative care are provided.

Financing Long Term Care

Paying for Long Term Care services can be an immense financial burden, as costs average between $50,000 to $100,000 or more per year depending on the level of care needed and geographic location. Very few people have the means to pay these steep costs out of pocket for an extended period. Careful planning is important to understand all options:

- Long Term Care Insurance - These specialized policies can help cover costs of care like assisted living, home health care or nursing homes. Premiums are based on age at purchase.

- Medicaid - Once individuals have exhausted their savings and assets, Medicaid will cover nursing home and other services for those who qualify financially. But eligibility rules are strict.

- Medicare - Original Medicare provides very limited skilled nursing and home health benefits after a hospital stay. Medicare Advantage plans may offer some additional coverage.

- Veteran's Benefits - The VA may help with care costs for eligible military veterans.

- Private Pay - For those with sufficient assets and income, paying privately allows bypassing limited coverage of public programs. Caregiver burnout remains a risk, though.

Choosing the right combination of funding strategies requires weighing costs, options and individual circumstances very carefully years in advance of needing significant Long Term Care. Consulting advisors experienced in elder law and Medicaid planning can guide optimal preparation.