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long term care insurance
home health aide
term care insurance
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Information About Long Term Care Insurance
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There is a lot of discussion these days about long-term-care-insurance. It is timely because the first group of the Baby Boom generation will turn 65, in 2011.

What exactly is long-term-care-insurance?

The National Association of Insurance Commissioners says that long-term-care, is a policy that covers health expenses. It includes: medical care, help with activities of daily living, adult day care, and sometimes help from a social worker.

Activities of daily life consist of help with grooming, bathing, shopping cooking, cleaning. This care is usually given by a home health aide. A registered nurse oversees the care, given by the home attendant The nurse also evaluates health care needs on a regular basis, when the client stays at home, instead of going to a nursing home or assisted care facility.

Long-term-care-insurance is needed, if there is a prolonged illness or disability, that prevents you from taking care of yourself. Although remaining at home is one option. Long-term-care insurance covers some expenses in an assisted living facility, or nursing home.

The policy provides a daily money benefit of from $50 to $250. You choose a a number of days, months, or years for the insurance coverage. Preminums can be very expensive and you must pay the preminums monthly or the policy will be cancelled.

Long-term- care policies have what they call an elimination period. A shorter elimination time means your preminum is higher. Elimination time can range from 0 to 180 days. The number of days listed in the policy as elimination time, is the number of days that must pass, before the insurance starts covering your long- term -care expenses.

Senior adults may qualify for Medicaid to help with this expensive insurance. To receive Medicaid, your income must be less then what the federal government considers poverty. Personal assests cannot exceed certain amounts. If a nursing home, is needed, Medicaid will cover expenses only in approved Medicaid nursing homes.

If assests are too high to receive Medicaid, you must pay for your care until you reach the maximum amount of assets allowed. This is referred to as "spending down."

Some states have long-term-care insurance programs that help with the "spend down" requirement. You buy a policy that provides some protection of your assests from the Medicaid "spend down"

In summary, long-term-care-insurance covers medical, personal, and social services. An elimination period must be met before the insurance starts paying bills. Match your long-term- health -needs with a policy you can afford. Medicaid will only pay expenses after you "spend down" your assests.

The National Clearinghouse for long-term-care web site, offers resources to help plan for long-term-care.


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