Long Term Care Insurance

What is Long Term Care Insurance?
Long Term Care Insurance offers you financial support for the costs of the Long Term Care that are not covered by Medical Insurance.

We offer low cost Long Term Care
(also known as Critical Care) Insurance Plans

What is Long Term Care?

The need for Long Term Care arises when independently functioning individuals lose the ability to perform some of the Activities of Daily Living (ADLs), or when cognitive Impairment occurs. Long Term Care includes the services and the support necessary to meet and/or maintain health and personal care needs over an extended period of time.

There are a wide range of services and procedures not covered by your medical insurance that Long Term Care Insurance pays for. These services fall into two groups: In one group there are three services for the Insured and in the other group one service is available for the Caregiver(s):

Services for the Insured:

Skilled Care: This care is typically provided by nurses or professional therapists on a daily basis. Usually a physician orders these services under a treatment plan. These services are provided for serious illnesses or injuries that you can recover from.

Intermediate Care: This care is the same as the Skilled Care, but is not provided daily. For example, if you sustained an injury requiring a visit 4 or 5 times a week the care is considered to be intermediate. Here again, you can recover from the illness or injury.

Custodial Care: This care is not intended to get you better, but rather provides assistance with daily activities. Examples of daily activities are bathing, eating, dressing, continence, and transferring (getting in and our of bed or chairs). These services can range from in-home care two or three days a week to 24-hour nursing home care.

Supervisory Care: This is long-term care service provided to those with memory or orientation issues. Supervisory Care is based on ensuring that a person does not harm themselves or others because of their cognitive or orientation issues.

Services for the Caregiver(s):

Respite Care: This temporary care is intended to provide time off for the caregivers who care for another on a regular basis. Respite Care can last two or three weeks.

Living options for Long Term Care

Long Term Care is made available in different types of facilities, and each policy differs in what is covered, so find out what facilities are available in the area that you are interested in receiving the Long-Term Care. Here are the four main types of facilities providing living options for the delivery of Long-Term Care:

Home Care: A wide range of services (both health and social) delivered at the home when you are recovering, or are disabled, chronically ill or terminally ill. Medical, social, nursing, or therapeutic treatments are available as well as assistance with essential activities of daily living.

Assisted Living Facilities: These residential centers provide continued care where assistance performing certain daily activities is either wanted or needed. Personal services, 24-hour supervision and assistance, recreational activities, and health services are also made available at these facilities. These facilities are a better fit when you want more privacy or independence than a Nursing Home would offer.

Nursing Homes: These dedicated facilities offer a comprehensive long-term care solution. Here individuals are assisted in meeting their daily physical, social, medical, and psychological needs in a controlled setting with 24-hour care. Nursing Homes may also provide medical, rehabilitative, personal, and residential services as well.

Adult Day Care: These community-based programs provide services to functionally or cognitively impaired adults. A variety of health, social, services, and related support services are provided during the daytime in a protective setting. The services are provided through structured, comprehensive programs.

Why do I need Long Term Care Insurance?

A Long Term Care Policy provides a level of protection on three fronts for you: Your family’s financial future, your own investments, and your savings. In the event that you would be struck with the need for Long Term Care you will find out how costly the services are.

What are the average costs of Long Term Care Services?

The Long Term Care Services Costs vary greatly depending on the state where you live and the times of day that services are provided. The costs vary widely depending on which state you live in and other factors such as when the services are provided. The table to the right provides some average annual cost ranges across the USA:
Type of Long Term Care Service Range of Average Annual Costs
Low end High End
Nursing Home – Semi-private room $47,500 $270,800
Nursing Home – Private-room $55,400 $255,900
Assisted Living Facilities $0 $72,000
Home Health Aides $34,300 $57,200
Homemaker Services $32,000 $56,100
Information from: http://longtermcare.gov/costs-how-to-pay/costs-of-care-in-your-state/ , whose data source was the Genworth Cost of Care Study 2013

Where do I get Long Term Care Insurance?

You can purchase your own individual Long Term Care Insurance or it may be provided by your employer through a Group Long Term Care plan.

The Bright Insurance Agency works with the best Long Term Care Insurance providers for those who do not have coverage through their employer.

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