CNN recently spotlighted the world of Long Term Care insurance. Most seniors need some level of care as they age, and as the article mentions:

Medicare only covers shorter-term services and Medicaid covers help for qualifying individuals. Those not eligible for government services often choose to rely on spouses or children who pay for services out of pocket, according to experts.

Long Term Care insurance is another option that several of our clients have taken advantage of.

LTC can be complicated, so you should definitely discuss it with your insurance agent and/or your financial advisor. Nerdwallet has a good summary here, including some information on premium costs. Your age and health will affect premiums, of course, so the earlier you purchase a policy, the cheaper it will likely be.

Every LTC policy is different. Some have “elimination periods” where you have to pay for care out of pocket for a number of days until your policy starts to pay out. Some clients and their families pay out of pocket and then get reimbursed by their LTC carrier. Other clients prefer that we bill the LTC company directly. At Assisting Hands, we discuss the different options with clients and their families to make sure everyone understands the options and picks the one that works best for them.

Assisting Hands strives to be a resource to help our clients and their families navigate the Senior Care world. We don’t have all the answers, but we constantly use our community connections to assist our clients to get as much care as they need. We provide quality Home Care, and we can help find great providers of other services such as Palliative Care, Hospice, Assisted Living, and even legal and financial planning services. Please call us if you have any questions! 720-780-7755