Questions About Long Term Care? We’re Here to Help.
Many people wonder if long term care benefits cover home care. The important
thing to understand is that there is
more than one type of long term care. Long term care generally covers such daily benefits
as nursing home stays, assisted living stays, and private home care at home.
What You Need to Know
Here are some factors to be aware of when making policy elections:
The elimination period — The average waiting period during which policyholders must pay
out of pocket before long term care kicks in is between 90 and 100 days.
In some cases, however, this period can last as long as 365 days (1 year).
Minimum requirements — Minimum requirements must be met, and these vary depending on individual
plans. Some require clients to obtain skilled nursing care. Others may
state that clients should meet 3 out of 5 needs with assistance with daily
living, such as bathing, feeding, and transferring.
Monthly premiums — Be aware that monthly premiums will most likely end once you meet
your elimination period and the policy comes into effect.
Policy specifications—Check the specifications of your policy. For example, what are your
daily, weekly, and yearly maximums? Will your coverage be unlimited or
capped at a certain point? This is why it is so valuable to work with
a knowledgeable and legitimate agency with the experience to guide you
in these decisions and to ensure that your allocated insurance resources
are not abused or overused.
Why Should I Work with an Agency?
The right agency can help you with submitting the necessary information
to assist in meeting waiting periods—for example, hospital stay
visits, nursing home stay visits, and home health skilled care visits.
These can all count toward the elimination period. Note that only agencies
licensed as Home Health or Home Nursing, with certified nursing assistants
on staff, are able to provide services.
Choosing a proper agency could make a huge difference. Our specialists
at LifeCare have been working with various long term care insurances for
many years. As such, we have a very good understanding of this process
and can assist our clients in making beneficial decisions. We can help
you understand your policy and ensure that you get the maximum benefits
available to you.