Long-term care insurance is insurance that would be added to a patient’s current health insurance coverage. It can be included in personal health insurance or government provided insurance, Medicaid or Medicare.

Long term care insurance covers services that are separate from health insurance programs which help with the payments of physician appointments, surgery stays, or prescriptions. Long-term care insurance is specifically for services to help the patient with in-home care. They would need assistance with daily living wants like meal preparation, feeding, transferring, toileting, or dressing. This might entail paying for a service to have someone to come and perform these duties such as cooking and cleaning of the home for the patient.

The bulk of people who would need the service are elderly. They might not be physically in a position to perform their duties or they might have cognitive impairment like Parkinson’s disease or Alzheimer’s. Some youngsters may qualify if oldsters need extra help with a disable child. This would be a type of cessation care.

Long term medical insurance also includes coverage for patients who would need to moved from their home into a nursing home. Other examples are controlled living facilities and adult day cares.

Advantages to purchasing a long-term care insurance plan include providing the patient with more economic security in the time they are least able to care for themselves. Paying for a caregiver to come to the home can be really expensive, and an insurance policy covers most costs. Medicare plans pay for a significant portion of in-home care.

A second benefit is that these insurance plans are tax deductible, and businesses which pay for a staff premiums also benefit from tax repayments.

Tax-qualified are the sorts of policies which are most commonly available. There are restrictions in which an individual must qualify for these services. They must need in-home care for over 90 days. The patient must also need help in two areas of assisted daily living. Examples are assistance with meal preparation, feeding, bathing, transferring from a chair to bed, continence, light housekeeping, driving to perfom errands, and reminding of medications. The plan also wants to ordered by the doctor. The patient buying an insurance plan is not taxed.

The rates of these insurance plans are based on several factors. Insurance companies will look at a patient’s age, the advantage of these services to the patient, the length of service, and the patient’s health rating. There are a few types of deductions available to such as discounts for couples purchasing individual policies. This would apply not only to married men and women but to those who meet the standards living together and sharing basic routine expenses.

There are many people who would benefit from long-term care insurance because when the time comes a person can’t handle their ordinary needs, it helps significantly financially at these times. It provides families the comfort that they may be able to provide somebody to take care of their loved one when they are not able to. These plans also help in being tax deductible to the consumer.

Before you go out and buy a policy go to Long Term Care Insurance, ask questions and request a long term care insurance quote. We represent 20 of the top LTCi providers. This gives you tremendous options.

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