ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel
  • »
  • Personal Finance»
  • Retirement

Long Term Health Care - Making Financial Plans Now

Updated on October 15, 2011

Planning for Health Care Needs

Financial planning for future health care needs is extremely important because it is not a matter of if, but of when. The realities of life cause the need to look at things we may rather not, but it is a wise person that does so. So whether you are looking ahead for your own health care needs, or that of your parents there are some good things to keep in mind. Some people are concerned for caring long term for a special needs child, and so that would fit into this topic as well.

Many people need long term health care and this is the case now more than ever perhaps. People are living longer, thanks to the strides made in medicine and science. Our communities world over are often scrambling to keep up with this new and welcomed reality by many. People just didn't have to plan as much before for the life expectancies weren't as high.

Part of what makes it complicated is that the details are unpredictable, and the costs are so high. So this is in a whole category of its own, compared to costs of buying a home, or college tuition, etc. You or your loved ones may not end up needing any care at all, or if they do you won't know when that is going to be. You also don't know for how long. The escalation in health care costs make it tougher than ever. Thus, the need to plan ahead and finding out what all the family members think that are involved.

Employers and Government

The roles of one's employer and the government add some unique things into the mix as well. There is both employer sponsored insurances and government that may play a role but are hard to predict exactly. If they play a direct role in truly covering your health care needs, then that is wonderful.

Whatever you do, don't give up because of the challenges, just know where to start planning.


Medicare, the federal government sponsored health insurance for people over 65 years old is a big help to many people. If you are eligible for Social Security, then you are eligible for Medicare if you are over 65. Coverage on medicare is not a family coverage, but an individual coverage. People that have spouses that are younger than 65 can have coverage for them, but not for the spouse. Once they reach 65 then that can change.

Long Term Care Insurance

Long Term Care Insurance provides coverage for people with chronic illnesses and long term disability that isn't covered by Medicare. This type of insurance often pays for nursing home care, and also for certain agency services. Some of these services may be visiting nurses, respite care, and home health aides. It can also help with those that are terminally ill and also help their families.

Find out first what coverage you currently have. Consider also looking into disability insurances, catastrophic illness insurance. They may be something that can help your family. Many experts agree that you don't really need an indemnity plan. There are a lot of small details than when you actually weigh out everything, don't end up being that helpful.

Never be afraid to ask as many questions as you like. If you get non helpful answers or unhelpful people, then don't stop there. Asking friends and family members what they use can really open up avenues you may not have thought of. Doctors can be a great resource even. Just a one minute conversation with a person can give you an idea to look into more. This could save you a lot of money and worry.


    0 of 8192 characters used
    Post Comment

    • oceansnsunsets profile image

      Paula 6 years ago from The Midwest, USA

      Thank you very much! I really appreciate that.

    • PhoenixV profile image

      PhoenixV 7 years ago from USA

      Good advice and I love that photo, voted up!


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: ""

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)