Long Term Care
Why is Long Term Care needed?
• Average age of a Canadian in 1972 was 27.4 years old. Today the average is 37.6 years old.
• Baby boomers make up 33% of the Canadian population.
• 225,000 people turn 65 each year.
• Canadian male who reaches age 65 will most likely live to 81…Females 84.
• Canadian Male who reaches age 75 will most likely live to 84…Females 87.
Risk Of Needing Long Term Care
• 1 out of every 2 Canadians 65+ will have some type of disability.
• 43% will need nursing home care at some point in their lives.
• At age 85+ disability rate rises to 70%
• Females outnumbered males by more than 2:1 in the 85+ age group.
Trends In Health Care Services
• Reduction in hospital employees.
• In Ontario alone 39,000 Health Care jobs gone in last 5 years.
• Less hospital beds available.
• Longer waits .
• Shorter hospital stays.
Home Care
• Government provides 80 hours of home care for first month and 60 hours per month thereafter.
• Average home care recipient NEEDS 156 hour per month of home care.
• Any home care not covered by the province will be at the expense of recipient or their family.
• Medical assistance cost approx $35/hour and non-medical $19/hour.
Nursing Home Costs
• Ward room (shared with several others) costs $17,771 annually.
• Semi-Private (shared with 1 or 2 other individuals) costs $20,691 annually.
• Private room costs $24,341 annually.
• Waiting period for a Long Term Care facility is from 6 months to 1.5 years.
• Increases in costs planned at 7% per year over next 3 years.
Government Programs Summary
• LTC services may not be adequately covered by provincial health plans.
• There are extensive waiting lists for accommodation in the facility of your choice.
• Are you willing to move into a nursing home if you cannot afford home care?
• Do you want the ability to choose what course your care may take?
KofC Long Term Insurance covers
Home Care Costs,
Adult Day Care,
Homemaker Services,
Care Coordination,
Hospice Care,
Home Modification,
Long Term Care Facility Costs,
Bed Reservation Benefit,
Respite Care Benefits,
Informal Caregiver Training,
Medical Equipment Benefit
Why KofC Long Term Care Insurance?
• Daily benefits paid over and above any Government benefits.
• Paid directly to you (or assigned to a facility, your choice), on a tax-free basis, to bring the services you need into your own home.
• Lifetime Facility Care guarantees benefits for as long as you require them.
• Care for the basic needs of someone dealing with the aging process.
• 15% rate discount on plans for couples.
