*Please Note: This information is provided for educational purposes only. The availability of each program is determined by that government agency and the individual’s situation. Please consult directly with your insurance company or the government program.

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Aging adults will often require long-term care because they have trouble getting out of bed, showering safely and grooming themselves. They require assistance for most basic living activities. Once the reality of these needs is faced, then the question arises: what are my options for long-term care coverage?

We have put together a summary explanation of some of the resources that people use when they are faced with this question. Since each option is different and the requirements and consequences are often somewhat complicated, we recommend that you talk to an insurance or financial advisor and refer to the resources below.

Oregon Long-Term Care Insurance

Some seniors plan ahead and purchase long-term care coverage before it is required and therefore at a lower cost. The Oregon long-term care insurance policies are more complex than buying the more standard types of insurance you are accustomed to, such as life, auto, and homeowners. When looking into long-term care insurance, you'll want to make sure you know what physical and medical condition you must be in before insurance will cover you care.

For further information go to: www.longtermcare.gov

Oregon Reverse Mortgage

An Oregon reverse mortgage is a fairly new plan that some senior citizens over the age of 62 rely on. It enables homeowners to convert part of the equity in their homes into tax-free cash without having to sell, give up the title on, or take on a new monthly mortgage payment. In an Oregon reverse mortgage the payment stream is "reversed;" instead of making monthly payments to a lender, a lender makes payments to the senior allowing them to remain in the home as long as they live, or move into a long-term care facility.

For more information go to: www.reversemortgage.org.

Oregon Medicare Helps with Short-Term Care Costs

Oregon Medicare is a federal health-insurance program that covers most Americans over the age of 65. It helps pay for short-term medical expenses, such as hospitalization, doctor bills, x-rays, radiation, and a variety of other tests and therapies. A copayment for a part of the expenses may be required. However, Medicare does not pay for nonmedical care, such as long-term care and assistance with daily living activities, with the exception of a few situations as outlined below:

Hospitalization:

To qualify for Oregon Medicare, a person must have spent three nights in the hospital and must enter the nursing home within thirty days, for rehab therapy for the same condition that was treated in the hospital.

If conditions are met, Medicare fully covers the first twenty days of long-term care and partially for up to the next 80 days.

Days	What Medicare Pays	What You Pay
1-20	Full cost	Nothing
21-100	All but a daily copayment	A daily copayment
Beyond 100	Nothing	Full cost

Other Considerations:

Oregon Medicare payments will continue as long as a senior is in a skilled rehabilitation program that is producing results, such as improved healing, strength, coordination and flexibility. Once skilled rehabilitation is no longer effective in improving a senior's condition, Medicare will stop paying – even if it's still within 100 days.

Families need to be strong advocates at the hospital for getting a senior into a nursing home if the family can't care for them at home.

Oregon Medicaid Helps with Paying for Long-Term Care

If one must enter a nursing home or long-term care facility, they may qualify for Oregon Medicaid once their assets have been depleted.

For those over the age of 65, Oregon Medicaid helps pay for nursing home costs once a senior has exhausted all, or almost all, of their own means. Oregon Medicaid generally pays for care in a certified nursing home. Since regulations vary from state to state, check this government site then select "Medicaid/Medicare" for the rules in your state.

Once a senior citizen qualifies for Medicaid benefits, they will have to pay any remaining monthly income, such as social security or a pension check, to the nursing home. Oregon Medicaid only pays the difference between the senior's remaining income and the nursing home's monthly charge.

Learn more about health insurance for senior citizens by contacting a financial or insurance advisor.