Long Term Care Insurance: Is our savings sufficient for care coverage?
With increasing awareness of the Baby Boomer retirement, the insurance industry is heavily focusing on long-term care insurance plans for aging consumers. Although Ministry of Health puts forward a significant amount of budget towards care for seniors, one can no longer depend on it solely or on private health insurance because it does not cover extended nursing home stays, assisted living centres or regular home care visits.
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Long-Term Care in British Columbia
Long-Term Care Residences, often referred to as Intermediate Care or Extended Care Homes, provide a higher level of care and supervision than Assisted Living Residences. Geared to persons who require ongoing 24-hour supervision, personal nursing care and/or treatment by skilled nursing staff, various levels of care are defined to differentiate between the degree of dependency on supervision and services required. Costs to residents are market driven and, in some cases, may be subsidized by government programs.
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Retirement Residences in Ontario
Retirement Residences meet the needs of those individuals who need greater security or who are no longer able to manage all the activities of daily living by themselves. These facilities aim to allow residents to continue to live with dignity and as independently as possible, while providing the security, care and supportive services necessary.
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Tips on How to Apply for Placement in a Long-Term Care in Ontario
Long-term care facilities can only be accessed through a Community Care Access Centre (CCAC). The CCAC determines eligibility for placement, however each facility retains the right to approve applications based on their ability to meet the care needs of the individual. Generally, eligibility for placement is approved when community based services such as In-Home Health / Community Support Services or retirement residences are no longer able to meet your needs. You will be notified in writing by the facility if your application for admission is accepted or not.
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