Tag Archives: long term care health insurance

There are different types Long Term Care Insurance Policies. “Indemnity” or “Expense Incurred” policies are most common. When you buy an expense incurred policy, you choose the benefit amount. Regardless of what you spend an “indemnity” or “per diem” policy pays up to a fixed benefit amount. An “indemnity” or “per diem” policy reimburses for the actual expenses for services received up to a fixed dollar amount per day, week, or month. Continue reading →

The type of Long Term Care Insurance Policy chosen, daily benefit amount to be paid, your age, number of years the policy will pay benefits, choice of inflation protection and the number of days after you qualify for the benefits before the company will start to pay benefits are factors which influence your Long Term Care Insurance Policy Premium. If you have a pre-existing condition, your premiums may be higher if some companies agree to insure you. All of the above factors influence your LTCI policy premium. Continue reading →

Costs rising out of long term care services are paid by Long Term Care Insurance. Help needed to carry out daily activities like eating, bathing, dressing and using the bathroom etc. when you have a physical disability or cognitive impairment such as dementia caused by Alzheimer’s disease is called Long Term Care. Traditional health insurance, Medicare or Medicaid do not pay for such care. This kind of care is not received in a hospital nor is it intended to cure you. You may need this kind of care for the rest of your life and can receive it in your own home, a nursing home or assisted living facilities. Continue reading →

Children born in the US between 1946 and 1964 are known as the Baby Boom Generation. The 76 million baby boomers represent approximately 28% of the population. 40% of this generation will live to be 90. 70% of people above the age of 65 will need some kind of Long Term Care Services at some point in their lives. Continue reading →

People with chronic illness or disabilities use Long Term Care services. It can be defined as help needed with daily activities such as eating, bathing, using the bathroom, dressing, moving from bed to chair etc. This kind of help is not skilled care and Medicare only pays for skilled care. Help received in your own home, in a nursing home or in an assisted living centre is not paid by Medicare. Only after a person’s assets are gone does Medicaid kick in. Continue reading →

Begin by reviewing your current financial condition, your savings and assets, and consider the kind of Long Term Care you want before you buy long term care health insurance policy. Look for a financially sound Long Term Care Insurance Company with a good rating so that the company is still around when you want to receive your benefits say in 20 years. Read the long term care insurance reviews and claims process and know how many filed claims have been paid by the company. Continue reading →