Long Term Care Memo

Group health insurance is the Medical policy which is beneficial to every individual in the organization provided by the insurance companies. In order to stop the drain of

Who is the target client? The targeted clientele for long-term care would be people or persons who have a disability or a life altering accidents. Patients who had Surgery or A physical complication or threatening illness that takes away their ability to do for themselves, the senior citizen population who's need can not be at home but in a facility to help them heal or to keep them from being at risk for future injury.

According to Edlund et al., (2003), the Long-Term Care Security Act signed in 2000 by President Clinton established the Federal Long-Term Care Insurance Program, which in 2002 offered a long-term care insurance program to federal government employees, retirees, and their family members. This type of long-term care employer assisted insurance has great appeal as the last of the Baby Boomers have entered their early fifties. In “Ready, Set, Grow,” Paul Barr (2014) stated that there are 10,000, Baby Boomers per day becoming eligible for Medicare, and those in their sixties focus on cost saving solutions; whereas Baby Boomers in their fifties emphasize the importance of quality, and ease of access while exploring new care models with innovative patient interactions and unique financing

In many circumstances, people may move out of long-term care. Those recovering illness or injury may regain independence after they are well. Some may not every be able to live a life without long-term care again. It is noted that 40 percent of people over 65 will need two or more years of long-term care with half of those needing care for more than five years (Grote, 2011). Unfortunately, with today’s aging population, the numbers in the long-term care are most likely to keep increasing instead of transitioning people out. Of the 12 million people who need LTC, 6.6 million are age 65 or older and are likely to be Medicare beneficiaries and entitled to the LTC coverage that Medicare provides (Barton, 2006). That said, not everyone who

Long term care is one of the fastest growing health sectors due to the increased average life

Long-Term Care is the retirement crisis that no one is talking about. There is an increasing demand for long-term care services because Americans are living longer with chronic health conditions. For Example, Veterans may live with family or alone and need services that their caregiver can no longer provide or may outlive their primary caregiver. Nursing home placement seems like the only option.

Long-term care healthcare delivery will be a great/popular option for many of these senior citizens. The long-term care healthcare delivery system falls within the continuum of care. The continuum of care is a series of heath care services that are provided to a great number of older adults who are in need of them throughout the course of their life/older life. The care ranges from: personal care, custodial care, restorative care, skill nursing care, and sub acute care (Shi & Singh, 2012). Different providers work together within the continuum to provide the right care to those in need. The continuum of care, as stated in Long Term Care: Managing Across the Continuum, is “comprehensive, integrated, and client-oriented”(Pratt, 2010). All the services offered should be client-based and cater to the client’s needs and suitable care. The client should be able to obtain services when it is needed from the provider, making it comprehensive. All the different long-term care providers should be interconnected between one another, because their goal is all the same, which is to care for the client’s needs. The continuum of care consists of: nursing facilities, sub acute care, assisted living, residential care, elderly housing, and a variety of community-based services (Pratt, 2010). All these different providers work together to care for the individuals within the health care industry, creating the continuum and making it integrated. As the future progresses and a great amount of

If your senior loved one has a chronic illness or disability, they may benefit from investing in long-term care insurance. Medicare and employer-based insurance plans typically don't cover in-home care. Long-term care insurance is purchased separately and covers in-home care from health aides or caregivers. Because insurance companies typically will withhold payment for a certain time period after the insurance is purchased for seniors with pre-existing conditions, make sure your loved one has funds in savings or other sources to cover the care before the insurance begins to pay.

Very few people possess an ample enough financial position to afford long-term care from their own funds. A few have prepared by purchasing annuities or long-term care insurance, but these numbers are small. By the time that most people enter long-term care they have multiple chronic diseases and have exhausted their personal wealth on direct medical care. The great majority of people depend upon

These workers didn’t make enough to have a retirement fund so the old age, so long-term care facilities were created, just like today a lot of people don’t have the means for an old age retirement fund. Financial management in long-term care is the facility administrators, financial officers, accountants and bookkeepers also the government officials, accountants, lawyers and bankers. These are the individual that keeps the financial areas of a long-term care facility to keep going. Long-term care regulatory guidelines in most facilities there are regulations that are required in order to participate in Medicare and Medicaid programs.

The continuum of institutional long-term care is for patients whose needs are not adequately met in a more community-based setting. It is for individuals who need more dependency. There are two ends of the continuum of institutional long-term care spectrum. On the one end there are the individuals that may only need basic personal or custodial care (Shi & Singh, 2015, p. 399). An example of personal and custodial care can include help with walking, bladder training, or just helping with bathing. On the other end there are the individuals that may need more round the clock care with nursing or specialized services along with the basic needs (Shi & Singh, 2015, p. 399).

Because of the company's growing concern about the employees’ benefits, we made arrangements to place new benefits in addition to the group life insurance that is presently enjoyed by all employees. The decision to make these new benefits allows thepayroll to be altered for the implementation of any legislated withholding.

The market size we are dealing with is currently large, and only growing. According to J. Davis: “The elderly population is the fastest growing niche market in the world- and its only getting bigger! By year 2030, the US elderly population will have doubled, reaching in excess of 70 million!”

Employee-paid term life insurance allows employee to supplement their group policy coverage or to elect to pay for high quality protection that stands on its own with coverage up to 50,000, the ability to increase coverage if they leave their jobs.

Economic factors: Chances of getting highly paid jobs are increasing as customers are now well educated. Being highly qualified, persons are getting high salaries and thus they are now more interested in getting health insurance. Hence, the premium policies should be customized by the health insurance companies such as BUPA, for the individuals who are getting high salaries and these companies should also have policies that are worthy for the low income people.