6 years ago ·
by Alston ·
Comments Off on More than Rest Home Insurance
The typical rest home insurance policy (also known as a long-term care policy) covers a lot more than rest homes.
This is an important fact. Most people who are disabled or elderly want to spend as much of their life at home not in a home. However, their inability to do certain things may mean that they cannot stay out of a facility with professional services.
Often their adult children are willing to do what they can to keep them out of a nursing home. However, they may not be able to keep their jobs and do everything that an aging parent needs.
This is where a so-called “nursing home policy” can make a difference. These policies will often pay the cost for home health care and respite care.
These additional coverages are in everybody’s best interests. It keeps the insured at home and it saves the insurers money. It makes sense financially. It also makes sense based on what people what for themselves and their loved ones.
Home health care can mean that a nurse’s aide can come to the person’s home and take care of them while their child goes to work. This can make a huge difference. It can allow someone to stay home for much longer than they would otherwise.
There are home health care businesses all over the nation that can provide your family with a competent home health care professional person who can help you. You can contact one of these businesses and interview them to make sure you are comfortable with the care they can provide.
Respite care is a little different. Sometimes a person who is at risk for being in a rest home is able to get along by themselves most of the day. They don’t need company all day. They just need someone to help them bathe or they may need someone to prepare meals for them.
This means that the family member who takes care of them can go to work but can never leave the state or take a personal vacation. This can make living a normal life very difficult for that caregiver.
Respite care can come to the rescue in this situation. This pays for a home health aide to care for the family member who is unable to care for themselves. This allows the caregiver to take a break.
Most LTC plans provide both respite care and home health care benefits. As stated above, longterm care policies have more benefits than most people are aware of and these benefits are generally available at no extra cost.
Rest home insurance does much more than just covering nursing home stays. It can cover home health care and respite care. It can keep you, your mother or your disabled child out of a nursing home and home with family members. This can have a tremendous positive impact on quality of life.
6 years ago ·
by Alston ·
Comments Off on Why & Where to Purchase Nursing Home Insurance
Why purchase nursing home insurance?
A nursing home stay can mean that a lifetime of savings vanishes right before your eyes like a magician’s trick. In most parts of the United States the cost of a nursing home stay can exceed one thousand dollars a week.
The average nursing home stay is about two and a half years. A cost of over one thousand dollars a week can mean a rapid evaporation of your assets. This can disenfranchise your wife or husband leaving them little or nothing left to use for buying food or medical services. With no insurance plans or policies in place, this can mean that no financial legacy is left behind for your children or grandchildren.
Home health care is also covered by many nursing home insurance plans. Since the cost of home health care can be quite high, buying insurance that covers it can provide important protection for your family.
Because your health can affect your premium and even your eligibility, you must purchase a nursing home insurance policy while you are healthy. Because age affects the price of these policies, you get a much lower rate when you are younger. Many Americans plan ahead and purchase their policies when they are in their forties or fifties.
Purchasing a policy when you are younger means you pay less. Buying a policy also gives you another important benefit. It will cover you starting at an earlier age.
A nursing home is for people who do not need the level of care needed in a hospital, but are unable to live at home. This can mean that a fifty-three year old stroke victim needing longterm care needs to be in a nursing home. Those without family members to take care of them are particularly at risk.
Many living in a nursing home are well under retirement age. A twenty-year old car accident victim with a traumatic brain injury my find that she has no insurance to pay for her stay.
Your health insurance policy is unlikely to cover an extended nursing home stay and you are at risk for being in a nursing home at any age. Many people do not know this and therefore think they have more longterm nursing home protection than they do.
Your health insurance policy probably covers a few months in a skilled nursing facility. It probably does not cover any time in an intermediate care nursing home facility. It probably does not cover any time in a custodial care facility.
Since most nursing home stays are in either intermediate care or custodial care facilities, a nursing home policy is important.
These facilities are full of people whose health insurance policies will not cover the cost of their care. This means that either the state pays their way or the cost comes from their savings. Since the state tries to get all of the assets it can from the people in the nursing home before it will pay, the importance getting this coverage cannot be over emphasized.
Where to Purchase Nursing Home Insurance
You can find rates for nursing home insurance on this site. If you use this site, you will be contacted by an agent who serves your state and who can help you make the right decision about buying coverage. If you prefer to look in the phone book you may find that the term “long term care” is used to describe these types of insurance plans.