About Long-Term Care
Long-term care is the type of care you may need when you are no longer able to care for yourself due to a prolonged illness such as a cognitive impairment such as dementia, or if you need assistance with Activities of Daily Living (ADLs) such as dressing, bathing, eating, toileting, transferring, and continence for an extended period of time. Long-term care is provided is the recipients home or in a long-term care facility such as a nursing home or an assisted living facility. Most often it is believed that long-term care is only for older people, when in fact the need for long-term care can strike anyone at anytime due to an accident or a debilitating illness.
Who Pays for Long-Term Care?
- -Personal resources of individuals or their families
- -Medicare will pay for skilled care only with certain eligibility requirements, it does not cover custodial care (non-skilled care).
- -Medicaid - for those with low income and limited assets
- -Long-term care insurance
What is Long-Term Care Insurance?
Long-term care insurance is designed to help to pay for some or all of the costs associated with long-term care services, most of which traditional health care or Medicare policies will not pay. Long-term care insurance services include assistance in your home, adult day care setting, and a facility setting such as an assisted living facility or nursing home.
Long-term care insurance policies offer a wide range of benefit flexibility. Most long-term care insurance policies are tax-deductible and include the core benefit structure that you can choose from such as daily amount, benefit period, elimination period and the option to purchase inflation protection. Depending on the benefit levels that you choose, it will increase or decrease the cost of a LTC Insurance policy premiums. There are several other additional benefits and riders that most long term insurance policies offer such as Nonforfeiture, return of premium, shared care, restoration of benefits and survivorship benefits.
Long-term care insurance premiums are based on the above mentioned benefits levels that you choose, any additional bells and whistles that you want to add on, as well as your age at the time you apply for a policy and health. Most LTC Insurers will offer a 10-15% discount for good health (very little health conditions, average height and weight, non-tobacco user, etc).
Long-term care insurance is designed to help preserve your financial freedom and independence, while enabling you to receive quality care. Learn to 10 reasons to purchase long-term care insurance.
LTC Solutions - 3501 Del Prado Blvd. Unit 205 Cape Coral, FL 33904. LTC Solutions for consumers provides long-term care insurance quotes and product information from a long-term care insurance expert for many of the leading LTC insurance carries.
This website should be considered an advertisement, not a contract. The intent of this website is to gather information from the inquiry request and then contact the consumer to go over their specific needs. George Mellendorf, owner of LTC Solutions is licensed in all 50 states.