Everyone is aware of the fact that they should plan ahead for retirement. You typically envision retirement as a time when you can travel, engage in leisure activities, and spend quality time with your family. Since you will be qualified for Medicare as a senior citizen, you may never even think about Medi-Cal.
Medi-Cal is a need-based health insurance program that is jointly administered by the state government along with the federal government. If you have never had financial need, Medi-Cal is probably off your radar.
This program is in fact important for many people who qualify for Medicare coverage, because Medicare does not pay for long-term care. The majority of seniors will need assistance with their activities of daily living eventually, and long-term care is very expensive. Medi-Cal will pay for long-term care.
Misconceptions About Health and Genetics
When you hear about the fact that most seniors will need living assistance, you may assume that you will beat the odds because you live a healthy lifestyle. There may be no history of dementia in your family, and you may go forward with confidence based on these facts.
Without question, your quality of life will be enhanced by healthy lifestyle choices. You may indeed live a long life because you made the right decisions. However, as you get older, it becomes more and more likely that you will need long-term care.
You can find some in-depth information about Alzheimer’s disease on the Alzheimer’s Association website. This disease is something we have all heard of, but the widespread nature of Alzheimer’s is surprising to some.
Around 13 percent of all senior citizens have contracted the disease. Upwards of 40 percent of those who have reached the age of 85 suffer from the disease according to the Alzheimer’s Association.
If you live well and you have strong genetics, you may well live to an advanced age. If you look at the statistics, Alzheimer’s becomes a real threat when you enter your 80’s.
Err to the Side of Caution
Responsible people tend to hope for the best while they plan for any and all contingencies that they may face. It is wise to take care of yourself as you are getting older. In virtually all cases you will enjoy some benefits when you make the right lifestyle choices.
At the same time, healthy choices and a promising family history do not provide guarantees. A well constructed Medi-Cal plan can protect your financial interests if you do in fact need long-term care at some point in the future.
If you would like to discuss Medi-Cal planning with a licensed elder care professional, contact us to schedule a free consultation. We will answer all of your questions and help you put a plan in place if you would like to go forward. We also invite you to register for one of our free Medi-Cal Planning Workshops.