LONG TERM CARE
There is a misconception by most people that some “special plan” exists that will cover expenses in old age. That “the government will take care of me”. They don’t realize that Medicare pays just 2% of nursing home costs and about 15% of all home health care costs.
Most people fail to realize that Medicare coverage is intended for acute, catastrophic illness that requires hospitalization and treatment by a physician. Medicare does NOT cover the daily care required by people who suffer from progressive conditions such as arthritis, diabetes or Parkinson’s disease. Custodial care, such as help with walking, dressing, eating, taking medication, and getting in and out of bed, is NOT covered through Medicare. Dental care, eye exams, private duty nursing care, and hospital or medical services outside the United States are also NOT covered by Medicare.
Medicare pays 100% of the first 20 days for skilled care only. And that is only if you have been in the hospital. Ninety five percent of care currently being provided in nursing homes does not qualify as skilled care.
Long-term care insurance policies cover medical, social, and personal-care services required by a person with a chronic illness over a long period of time. Coverage can include both HOME health care as well as NURSING HOME and ASSISTED LIVING FACILITY benefits. It picks up where Medicare and other insurance falls short. Women and men age 85 and older are the fastest growing segment of the population. The longer you live, the greater the chance for chronic illness. The flexibility of today’s policies allows numerous options to tailor a protection package to your specific needs. These are not just “nursing home” policies anymore. HOME CARE is what most people want. And it’s affordable! There are even options that will refund all the premiums paid to you or your heirs should the policy not be used.
Why would you want to have Long-Term Care insurance?
· To avoid spending your savings and using up financial assets for long-term care expenses.
· To be able to pass more of your assets to heirs, survivors, or for grandchildren’s college, etc.
· To decrease the chance of being on Medicaid / Welfare.
· To have more choices regarding the type of care you receive and where. Your own choices.
· To keep and maintain control of your assets as long as you wish.
· To not depend on family members for the care or burden your family to pay for the care.
Ultimately, people have LTC policies for a combination of reasons including asset protection, pride, having control of ones life, having choices, and retaining one’s dignity.
Let me show you how affordable this protection and security can be. Call me at 772-284-3318. Let's find out what's best for YOU! Through years of experience I've learned that everyone's situation is the same, but different
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