14 Nov Long Term Care Coverage
Long-term care insurance helps people with the cost of long term care for an extended and unknown period of time. This type of insurance is separate and not covered by health insurance, Medicare or Medicaid. Many people fail to purchase this insurance because they think those three combined are enough. Long-term care insurance helps cover home care, assisted living, adult daycare, respite care, nursing homes and Alzheimer’s facilities if necessary. It can even help pare for a live in nurse or caregiver up to seven days a week, 24 hours a day (up to the benefit maximum). Many people underestimate the cost of long term care and are unaware of the burden they could be leaving to their family.
Even small expenses over a long time can add up and deplete the savings of an individual or family. To make it even more beneficial to have it, most premiums are eligible for an income tax deduction. Most services covered by long term care are not necessarily medical, but they are vital services such as assistance with getting around. But not all long term care is for people over 65 in fact about 40% of those who are receiving long term care are between the ages of 18-64. So call us today and we can help with all your questions