by Jayson Cohen, American Legacy Solutions
We commonly hear different things from different people about facts and figures. In today’s world we are never quite sure what is opinion and what is accurate fact, In the following article I will be addressing some of the common myths that we hear surrounding Long Term Care. Hopefully this will help with some clarity and answer some questions for you.
Myth: Long Term Care insurance only covers Care in a nursing facility
Fact: Long term care insurance can provide benefits for your care in the following setting: your own home, adult day care, hospice care, residential care facility or a nursing benefit.
Myth: There is a government program that will take care of me.
Fact: Medi-Cal (Medicaid) is a government program that will pay for certain long term care services. However, eligibility for Medi-Cal requires you meet state-specific poverty guidelines. Medicare is a senior health insurance plan that covers skilled care designed to improve and individuals’ health condition. It does not cover custodial care.
Myth: Long Term care is only for old people or end of life care.
Fact: Accidents and chronic illness can happen at any age and can include the need for extended custodial care. The availability and cost of long term care insurance are based on your health and age at time of application. Planning ahead can pay off.
Myth: I do not need Long Term Care Insurance. I have health insurance.
Fact: Long Term Care is the assistance, care of services a person needs when they are unable to perform basic activities of daily living – such as bathing, dressing, eating, toileting, transferring, or continence. Most long term care is due to a chronic illness and is progressive in nature with the need for care often growing overtime. This type of care is not covered by health insurance plans, which are designed to cover skilled or acute care needed to return someone to good health.
Some of these myths may apply to you and your family. As you explore this type of protect for yourself, a friend or a family member make sure you talk to a licensed individual. Some individuals will only represent one company (captive agents) and some will represent many (Brokers). Whichever route you choose make sure that you discuss your options with a trusted family member while making sure that option is right for you and your family.