Not Your Ordinary Health Insurance

Not Your Ordinary Health Insurance


Heather Foster

Unlike regular health insurance, you can never tell when you ll need a long term care insurance (LTCI) policy but investing in one will promise you a life that is comfortable, blissful and free from financial worries.

Health insurance covers one s hospitalization, checkup with the doctor, prescriptions, dental service, vision treatment, and other medical expenses. It does not, however, provide coverage for long term care resulting from an injury sustained from an accident, chronic illness, or simply failure to perform the activities of daily living (ADL) due to old age.

Whatever your regular health insurance would not provide coverage for, an LTCI policy will. This is basically why it is tagged as more than just your regular health insurance. What s more, LTCI policies were not designed for sick people only unlike regular health insurance.

It is possible for anybody to require long term care (LTC) even if he is not sick. It is also not true that only old people need this type of care. As a matter of fact, according to the statistics of the U.S. Department of Health and Human Services, 40% of current LTC patients are from 18 to 64 years old while the remaining figure is comprised of senior folks.

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Most of the young people who are currently receiving LTC are suffering early onset Alzheimer s disease, multiple sclerosis or a spinal injury which stemmed from a terrible accident. Naturally, those who are 18 years old don t have LTCI yet so it s definitely their parents who are still footing their bills in a nursing home, assisted living facility or for home care.

However, those who are 50 and older should already have an LTCI policy otherwise they re at risk of losing all of their assets to the cost of care. Perhaps, they may not feel the weight of their LTC expenses in the first year but in the succeeding years they will realize their resources are dwindling down fast.

Long Term Care Insurance

People think an LTCI policy is redundant, not to mention useless because they have Medicare already.

What they don t understand is that Medicare will only provide LTC coverage for people over the age of 65 and younger disabled persons after they have been confined in a hospital for three consecutive days. Medicare will foot their nursing home bills for 20 days only then after the 20th day it will require a copayment.

With an LTCI policy you can receive care for the specific length of time stipulated in your policy and the only time that you will need to fork out money is during your elimination or waiting period, which would require you to pay for all of your LTC expenses from out-of-pocket.

Aside from getting to protect your assets, LTCI also gives you the freedom to receive care in your choice of LTC setting so this can be at home, in an assisted living facility, in a continuing-care retirement community, or in a nursing home.

There is no other LTC plan that guarantees people the freedom and protection that they can get from a long term care insurance policy. So give it some thought and should you decide to secure one for your sake and your family s future contact a licensed LTCI agent in your area to discuss your options.

Need help in preparing for your

long term care

? There are lots of ways to have that

long term care plan

right next to you before you become overwhelmed with the rising prices of health care services. Plan now!

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