Long-term care planning is essential to ensure we can afford the care we need as we get older.
Yet, securing long-term care can be challenging, especially if you live in more rural parts of the United States and New Mexico. Families may have limited options, fewer nearby providers, and caregiver shortages that impact their care. As a result, they may have to travel farther to receive care, which can place more pressure on family caregivers.
These effects can compound over time, causing significant stress on you and your loved ones. Planning early can help you avoid unnecessary stress, allowing you to better understand your care options and make more informed financial decisions to help you secure it.
Below, we’ll share more about how to plan for long-term care in rural New Mexico, including common care options and state-specific resources you can leverage during the planning process.
What Long-Term Care Means in New Mexico
When people think of long-term care, the first thing that comes to mind is nursing homes. However, there are other options depending on the type of support you need.
- In-home care, including skilled nursing care, hospice, and family caregivers
- Community-based care, like adult day care and assistance with household tasks
- Assisted living facilities, including independent living in a supervised community
- Nursing homes, featuring skilled medical care within a supervised facility
- Memory care, with specialized care targeted toward those with Alzheimer’s and dementia
The type of care you receive depends on your preference, budget, and capabilities. The more care you require, the more supervision is necessary. For example, you may want in-home care, but unless you can secure 24/7 care, a nursing home may work better for your care needs and personal budget.
The New Mexico Aging and Long-Term Services Department offers additional long-term care resources for its elderly residents, including:
- Transition planning, supporting residents as they move between care options.
- Caregiver resources help caregivers find services and offer support and guidance as they navigate the complexities of their loved ones’ changing needs.
- Options counseling, offering support for people exploring community-based care, assisted-living, nursing homes, and more.
These services and more are intended to better support New Mexico’s aging population, which is expected to be the nation’s fourth-largest by 2030.
Why Rural Families in New Mexico Face Added Challenges
Living in rural areas of New Mexico has many benefits, but access to care typically isn’t one of them. Many families experience challenges that their urban counterparts don’t have to face, including:
- Fewer nearby providers
- Limited specialty care
- Caregiver shortages
- Transportation barriers
- Longer travel times
These barriers can cause a greater reliance on family members. As they are called on to provide increasing support for their loved ones, family caregivers often shoulder a significant financial burden.
AARP reports that about 25 percent of family caregivers take on debt. They often have to take time off work, cover transportation costs, and pay for incidental expenses not covered by insurance.
Care Options Families Should Understand
It’s critical to understand that families have options for securing care. Common care options in New Mexico include the following.
- In-home and community-based services include skilled home health care, assistance with activities of daily living (ADLs), hospice care, transportation support, etc., within the comfort of your own home.
- Assisted living facilities allow individuals to live independently with support as needed for personal care, housekeeping, prescription management, and more.
- Nursing homes support those who need more hands-on medical care and supervision with ADLs.
- Memory care provides even more secure care targeted to those with Alzheimer’s and dementia to keep them safe.
- Family caregiver support relies on family members to support care needs, transportation, etc.
New Mexico has great resources available for those who want to receive long-term care services in home or community settings rather than in institutions. They offer robust statewide aging-network services, including:
- Transportation
- In-home care
- Adult day care
- Home-delivered meals
- Caregiver support
- Medicaid community-based programs
These resources are intended to help New Mexico’s aging population better control the type of care they receive. However, many of these options still have an out-of-pocket cost, which is why residents may explore securing long-term care insurance plans in New Mexico.
What Programs and Resources May Help in New Mexico
New Mexico has various state-specific resources that can help you navigate long-term care options.
- Aging & Disability Resource Center can offer guidance for New Mexico residents, helping them find services across the state.
- The Aging and Long-Term Services Department supports in-home and community-based care needs, including combating senior hunger, encouraging healthy and productive aging, building new capabilities among seniors, and offering caregiver support. They are the official state agency for Adult Protective Services and the Unit on Aging.
- Centennial Care is New Mexico’s Medicaid program, and it includes programs for elderly residents who need long-term care, such as nursing homes, in-home care, and community-based services.
- Local aging network services provide transportation, meals, senior employment support, and more within their local communities.
Overall, the goal of these state resources is to support New Mexico residents at every stage of their lives in achieving independence and meeting their basic care needs.
How to Plan Early When Rural Access Is Limited
Even with New Mexico’s aging resources, residents still need to plan for their care. Early planning is even more critical in rural areas, where limited care options may drive up costs or force you to move farther from home to receive the care you need.
Please take the following into consideration as you plan for your long-term care needs.
- Compare local care options. Check out local caregivers, facilities, and in-home care to ensure the services you need are available. New Mexico’s Aging & Disability Resource Center and Aging and Long-Term Services Department are great places to start to help you find services if you don’t know where to look.
- Consider the logistics. Can you travel to get the services yourself? Or will you need someone to help get you there? If you are relying on loved ones, these caregiver responsibilities can add up and cause financial and emotional stress.
- Estimate the cost. Enter the location you’re seeking care in the CareScout calculator or discuss with the state’s services. Seek quotes from the providers directly during your research. This will help you get a sense of the monthly and yearly costs to help you plan.
- Review your future plans. Consult with a financial planner to understand your options. Meet with an attorney to discuss power of attorney, living wills, and other legal documents to help ensure your wishes are carried out.
- Explore long-term care insurance. Even in New Mexico, traditional insurance plans typically do not cover all your long-term care needs. Long-term care insurance can help close the gap, and you want to consider your options before you’re unable to secure a policy due to pre-existing conditions, age, financial reasons, and more.
Having a team of financial, legal, and long-term care insurance experts can ensure that your future care needs will be met from all angles.
Questions Families Should Ask When Planning Long-Term Care
Because securing long-term care can feel complex and intimidating, here are some questions to help you get started.
- What care options are available near me?
- How far will I need to travel for care?
- Can I receive this care safely at home?
- Who would be my main caregiver?
- Will there be others responsible for my care?
- What financial assistance is available?
- Are there other resources I should explore?
- What would my estimated out-of-pocket costs be?
- Would long-term care insurance help cover the cost of future needs?
- What are LTC insurance costs?
Ultimately, you want to understand the logistics and LTC costs, as well as which resources and insurance policies are available, to help make care more accessible.
Where Long-Term Care Insurance Fits Into the Conversation
Long-term care insurance is a great supplemental insurance policy that can make long-term care more accessible, especially for those living in rural parts of New Mexico.
You may want to consider long-term care insurance if:
- You want to protect your personal finances.
- You don’t want to be a financial burden on your loved ones.
- You want to make sure you can afford the type of care you want.
- You have a family health history that may require long-term care.
Planning early can help you and your loved ones secure a policy that works for your needs and fits within your budget. Living in rural areas can complicate planning, so it’s essential that you start thinking about your options early.
Conclusion
Rural New Mexico is beautiful, but it can make secure long-term care more complicated. Families should start planning sooner and more carefully to secure the type of care their loved ones desire.
Lavine LTC Benefits are here to help when you’re ready. Our team will help you explore long-term care insurance options to help you take control of your future care needs.
Reach out for more information and to learn how to build a plan that fits your needs and your budget.