|
| |
LONG
TERM CARE INSURANCE
NURSING HOME INSURANCE
Who would take care of you if you
were bedridden for a few months? With the costs of home care and
assisted living facilities increasing each year, aging baby
boomers are thinking ahead and buying long-term care insurance.
Seniors
Living Smart
Long term care services are needed if you have a chronic
illness or disability that leaves you unable to care for yourself over
an extended period of time. And usually, this type of care isn't
covered by your health insurance plan or by Medicare.
Auto Accident Injury Insurance Claim |
Car Insurance
Like other insurance, long
term care insurance enables you to pay a premium to protect
against the risk of much larger out-of-pocket costs. Factors,
including your age, the level of benefits you select, and the length
of time you're willing to wait until benefits begin, affect the cost
of your premium.
A financial advisor or a licensed
long-term care insurance agent can help you compare policy
features and premiums.
California Health Insurance |
 |
Before you
buy a nursing home insurance policy, read the "outline of
coverage" that describes in detail the benefits, limitations, and
exclusions and compare it with other policies. Does the policy require
a hospital stay before paying nursing home benefits? Is Alzheimer's
disease covered? What is the age range for enrollment?
These are examples of some of the options you need to consider when
choosing a long term care policy.
|
|
|
The cost of nursing home care can
be financially devastating and rapidly deplete your lifetime savings.
Medicare only covers a limited amount of nursing home care. The
Medicaid program can pay for nursing home care and other medical
expenses but, in order to qualify for Medicaid benefits, your assets
must be below a specific amount. In most cases there are options to
protect assets and at the same time bring your assets below the
Medicaid
asset limits.
Retirement Income InsuranceFINANCING NURSING
HOME CARE
Statistics show that approximately 43 percent of the population age 65
will spend time in a nursing home.
Some will be there for relatively short periods of time. These are
usually stroke victims who are doing rehabilitation. A significant
percentage will remain in a nursing home for an extended period of
time. These are usually Alzheimer's or Parkinson's patients.
A statistic widely quoted is that the
average stay in a nursing home is 2.9 years. This statistic is
somewhat
misleading, because the persons receiving rehabilitation are often
discharged in six months or less. The long-term
patients may stay in the nursing home for many years.
Mortgage
Insurance
Unfortunately, as the population
ages, the cost of health care is increasing, and government
entitlement programs are being cut back. The median cost of a nursing
home in New Jersey today is closing in on $100,000 per year. Some
nursing homes are slightly less, and some are significantly more.
There are five sources for nursing
home payment. They are: private pay, nursing home insurance,
Medicaid, Medicare, and Veterans Administration. |
|
|
|
|
| Source:
www.begleylawyer.com |
|
NursingHome | Long Term Care
Insurance | Nursing Home Insurance
Your Guide to NursingHome
Insurance
|
Site information sources: Wikipedia, FCIC and other public available
resources. We have no affiliation with any company or organization mentioned
on this site. This site is about
NursingHomes, Nursing Home Insurance and Long Term Care Insurance.
http://www.nursinghomeinsuranceonline.com owner and contact info:
www.lawyersontheweb.com
|
Baby Boomer
Information | Sitemap |
Digital Camera Stuff
|
School Loan Consolidation and Refinancing
Hotels, Resorts and Lodges |
Motorhome and RV
Insurance |
Carrental Insurance |
Related sites
PetInsurance |