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Long Term Care

Long Term Care

Posted By || 7-Jul-2015

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.

Categories: Care