Long Term Care Planning provides the opportunity for people to review and assess their current and future care needs and how they plan to pay for those needs. The following information provides information and resource options.
Private Pay Options:
Reverse Mortgages
Reverse Mortgages are Loans that allow homeowners to convert home equity into cash while still living in their home. Borrowers continue to own their homes and may not need to make monthly payments. Instead, they can choose to receive the funds as a lump sum, line of credit, or as monthly payments (for up to life). These loans can be used to pay for in-home care services, respite services, and other services the home owner requires. The loan comes due only when the last borrower moves out, dies, or sells the home. More Information and loan lenders can be found at Reverse Mortgages.
Long Term Care Insurance
Long Term Care Insurance is a policy that can be purchased to help offset costs of in-home care and Nursing Home care, similar to health insurance that offsets the costs of medical services. The State of Idaho Department of Insurance has information as well as insurance providers
Public Pay Options:
Medicare is a Federal program that provides health coverage for people over 65 years of age. this link provides information on eligibility, application, and benefits.
Medicaid is a State program that provides health coverage for people who meet certain eligibility requirements. This link can provide addtional information on eligibility, application, and benefits.