Long term care insurance covers expenses and services not covered by health insurance, Medicare, or possibly even Medicaid. Speak with one of our specialists about your options today.
What is Long Term Care Insurance?Long-term care insurance (LTC or LTCI), an insurance product that helps provide for the cost of long term care beyond a predetermined period. Long-term care insurance covers care generally not covered by health insurance, Medicare, or Medicaid.
Individuals who require long-term care are generally not sick in the traditional sense, but instead, are unable to perform the basic activities of daily living (ADLs) such as dressing, bathing, eating, toileting, continence, transferring (getting in and out of a bed or chair), and walking. The Benefits of Long Term Care InsuranceLong-term care insurance generally covers home care, assisted living, adult daycare, respite care, hospice care, nursing home and Alzheimer's facilities. If home care coverage is purchased, long-term care insurance can pay for home care, often from the first day it is needed. It will pay for a visiting or live-in caregiver, companion, housekeeper, therapist or private duty nurse up to seven days a week, 24 hours a day (up to the policy benefit maximum).
Other benefits of long-term care insurance:
Medicaid also provides some long-term care benefits. Since Medicaid is a government health insurance program, you need to prove that you have income and assets within the established guidelines to qualify for it. There are ways that you can protect assets for a healthy spouse or other family members and still qualify for Medicaid, but it does take planning. Click here to learn about Medicaid rules and planning options even if you think your income and assets may be too high to qualify for it. |
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We can help you and your loved ones with LTC Pre-Planning as well as Emergency Planning. |