What is Chronic Care?

It’s a term used to describe services people need when they’re unable to care for themselves. This can range from help at home with daily activities like meal preparation and housekeeping, to personal care services like bathing and dressing. Chronic care also is provided in assisted living facilities, which are home-like settings that offer safety and security, plus nursing homes that provide round-the-clock skilled nursing care. 

Does my "other insurance" cover chronic care expenses?

The short answer is no. Health & disability insurance exclude care services while Medicare only offers minimal coverage.

Health Insurance

No Coverage.

Chronic care insurance was excluded from the Affordable Care Act (ACA) which does not cover expenses associated with chronic care.

Disability Insurance

No coverage.

Disability insurance was not designed to cover chronic care services and excludes most care expenses.

Medicare

Minimal coverage.

Medicare only covers up to 100 days of care after a 3 day stay in the hospital. According to the US Department of Health and Human Services the average chronic care claim is 3 years.

Will you need chronic care services?

No one knows for sure. But many people need help as they age. The U.S. Department of Health and Human Services estimates that 70 percent of people age 65 and older will need some chronic care services during their lifetimes. But chronic care isn’t just for older people. An accident or prolonged illness means the need for chronic care services can happen to anyone at any age.

             

           

Why is chronic care planning important? 

Chronic care planning is an important part of a personal financial plan. During our lifetime, the likelihood of needing care increases and chronic care services may be expensive. According to the US Department of Health and Human Services, the average cost of care can range from $48,048 - $100,380 per year depending on the type of care you are receiving. There’s a good chance these costs will be even higher in the future when you’re likely to need care.