Long-Term Care, Home Care Services Grow More Popular
Elderly patients are increasingly opting for home care services over nursing homes and assisted-living facilities, the North County Times reports.
Four out of five older U.S. residents strongly prefer to stay in their own homes than in a nursing home, according to the North County Times.
As the baby boomer population nears retirement, the option of receiving care outside of a nursing home is expected to continue to grow in popularity (Webster, North County Times, 11/3).
Meanwhile, long-term care policies also are gaining popularity among baby boomers in their late 50s, despite concerns from some experts about rate increases, payment delays and other drawbacks, the Los Angeles Times reports.
Consumers purchase long-term care policies to give them more health care options in case they become ill, Jesse Slome, executive director of the American Association for Long-Term Care Insurance, said.
However, the plans vary widely in costs and waiting periods before benefits take effect. In addition, most policies can raise premiums, in some cases as high as 40%.
Some consumers also have complained of slow reimbursements or rejected claims, although Mohit Ghose, spokesperson for America's Health Insurance Plans, said that only 3.3% of claims are denied.
John Rother, director of policy and strategy for AARP, said future developments, such as changes in medical technology or medical advances can make it uncertain if a policy will meet the policyholder's future needs (Peterson, Los Angeles Times, 11/4).