Long-Term Care Insurance
Many people think that medicare will pay for long-term care, however, it is very limited and must meet certain criteria, so long term car insurance is a must.Long-term care includes support for basic daily living for people who have a chronic illness or disability. It may include help with everyday activities such as feeding, dressing, bathing, and transferring. It may also include the kind of health-related care that most people do themselves, like using eye drops or preparing their medication for the week. Long-term care can be provided at home, in the community, in assisted living, or in a nursing home. It’s important to plan far in advance for long-term care.
In the event that you require extended care, you need to worry about getting well instead of whether you will be able to afford the care you need. Determining your need for such coverage takes an experienced and caring friend to create a coverage scheme that will stand ready to help when you need it most. I can help you with your choices in long term care insurance needs.
A private insurance policy can help pay for many types of long-term care, including both skilled and personal care. There are many options for long term care insurance plans. Some policies may cover only nursing home care while others may include coverage for a range of services like adult day care, assisted the living, medical equipment, and home care. The amount of coverage available for different services varies by policy. You can check with your current or former employer or union to see if they offer long-term care insurance.
Current and retired federal employees, active and retired members of the uniformed services, and their qualified relatives can apply for coverage under The Federal Long-term Care Insurance Program.
The eligibility rules for Medicaid are different depending on each state, but in every state, Medicaid is an important source of coverage for people who need long-term care services.
State Medicaid programs: Each state operates a Medicaid program that provides health coverage for low-income families and children, the elderly, and people with disabilities.
Medicare options: People on Medicare with limited income have several opportunities for enrolling in Medicaid coverage and getting help paying Medicare premiums. Medicaid also helps pay for nursing home care for a large proportion of people with Medicare.
Community-based programs: Nearly all states offer community-based long-term care services that are supported through Medicaid that help individuals stay in their homes for as long as possible.
The Department of Veterans Affairs (VA), as part of its health care program, may provide long-term care benefits and services for eligible veterans who have service-related disabilities.
In addition to health care, VA benefits include a Housebound and Aid and Attendance Allowance Program that provides cash benefits to eligible disabled veterans and surviving spouses to get homemaker, personal care, and other services needed for help at home. For more information, visit the VA website, or call 1(800) 827-1000.
The Program of All-Inclusive Care for the Elderly (PACE) is a Medicare and Medicaid program that allows people who otherwise need nursing home-level care to remain at home. PACE provides coverage for prescription drugs, doctor visits, transportation, home care, check-ups, hospital visits, and even nursing home stays when necessary.
To qualify for PACE, you must meet the following conditions:
To find out more, visit www.pace4you.org.
Use the resources below to find more information about long-term care insurance:
Planning: Visit http://www.longtermcare.gov to learn more about planning for long-term care. Long Term Care Insurance Midland, TX
Medicare Resources: Visit Medicare’s website for more information about long-term care planning. You can also compare nursing homes or compare home health agencies in your area. You can call 1(800)-MEDICARE 1(800) 633-4227. TTY users should call 1(877) 486-2048.
State Assistance: Contact your State Department of Insurance to get information about long-term care insurance.
Free Shoppers Guide: Call the National Association of Insurance Commissioners at 1(866) 470-6242 to get a copy of “A Shopper’s Guide to Long-term Care Insurance.”
Eldercare Locator: Visit the Eldercare Locator to find your local Aging and Disability Resource Center (ADRC). You can also call 1(800) 677-1116.
Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a selected payee a sum of money in exchange for a premium.