Evaluate need by understanding the basics of Long Term Care:
Long Term Care refers to temporary or ongoing care for those who need minimal to full assistance with daily living. Long Term Care providers help the elderly and people with permanent and temporary disabilities function as independently as possible for as long as possible. Ideally, we will be able to choose the people and places we feel will provide us with top care should we need this type of service.
Because people of all ages can need Long Term Care, it’s never too early to protect yourself and your loved ones. It is one of the few ways available to alleviate the financial devastation and loss of dignity the underinsured can face. If you select a LTC carrier now, you help guarantee you and your loved ones are protected, no matter what happens.
Medicare only covers Long Term Care costs when recovery is possible. LTC insurance covers your choice of care providers regardless of your circumstance. Medicaid may cover Long Term Care but you must meet strict income and asset requirements to qualify. It would seem reducing your assets would help. However, in doing so, you also may lose control over where and when you receive care. Additionally, less Medicaid coverage is available now than in the past.
By purchasing Long Term Care insurance, you are giving yourself and your loved ones additional choices and control. During difficult times, these things are more important than ever. We all need this type of coverage, particularly once we reach a certain age, as well as if we have a poor family medical history. Long Term Care coverage offers security and safety for individuals and families, so that you can enjoy life and rest assured in the 'safety net' you have provided yourself.
Assistance and services are covered by Long Term Care policies may include:
Getting up and sitting or laying down, walking
Getting in and out of a wheelchair
Companionship
Bathing, dressing and grooming
Getting to and from the bathroom or managing incontinence
Pain management
Medication management
Counseling
Diet/meal planning
Brushing teeth and washing/styling/cutting hair
Shaving
Entertainment and activities
Social activities
Help making and receiving phone calls
Help reading and writing letters/sending mail
Supervision to prevent high-risk behavior, like wandering
Emotional support and counseling
Physical therapy
Medical care
Transportation to and from medical appointments
Transportation and errand running
Meal preparation, eating and drinking
Cleaning and other household tasks
Money management and bill payment
Home and lawn maintenance
These are tasks essential to daily living, the loss of which can negatively impact the way you live your life, from the value of your home to your overall quality of life. The loss of ability to complete these seemingly simple tasks can be devastating, and certain Long Term Care services may offer relief. In addition to the depth and quality of care, you also want to choose the setting you receive these services in. While Medicaid will step in only if you are in a nursing home and Medicare only in Medicare-approved facilities, Long Term Care insurance covers services in a wide range of settings.
Long-Term-Care.org is not a long term care insurance broker or carrier, and we cannot issue insurance policies. We are not associated with the companies profiled on Long-Term-Care.org and we make no representation, express or implied, that you will receive a quote from a specific company profiled herein. This site provides free information on insurance providers and coverage options. Products and policies may not be available in all states, and product and policy information is subject to change without notice. Please direct all insurance questions to your insurance company or broker.
