CLHIA-ACCAP - Consumer Information

A guide to long-term care insurance

Issue link: http://clhia.uberflip.com/i/405133

Contents of this Issue

Navigation

Page 4 of 14

2 THE BASICS This may surprise you It is difficult to imagine when we are healthy and independent that at some point in our lives our health status could change and we could require specialized, ongoing care from someone else. Often, when we think of the need for long-term care, we think of the elderly and the need for care in a nursing home. Let's not forget there can be circumstances in a younger person's life when long-term care could be required. An unexpected debilitating illness or an accident could result in the need for around-the-clock care for people of all ages. Planning ahead is not only for the aged Many Canadians mistakenly believe that full-time care in a long-term care facility will be fully paid by government health care programs. However, long-term care is not covered by the public health care system. The truth is that government health care programs may cover only a small part of the costs for a nursing home or other specialized residential care facility, or perhaps none at all depending on the circumstances. This means that individuals (or their families) will have to pay for a significant portion of the costs associated with a long-term care situation out of their own pockets. Yet, most Canadians haven't contemplated the need for long-term care in their retirement planning. Three quarters of Canadians (74 per cent) admit they have no financial plan to pay for long-term care if they needed it, according to a Leger Marketing survey conducted on behalf of the CLHIA.

Articles in this issue

view archives of CLHIA-ACCAP - Consumer Information - A guide to long-term care insurance