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Private Long Term Care Insurance: What Does It Pay For?
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Private Long Term Care Insurance: What Does It Pay For?

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You probably heard about all the discussions and issues about private long term care insurance and wondering why it is even a concern. It’s not easy to understand the value of this coverage when most …

You probably heard about all the discussions and issues about private long term care insurance and wondering why it is even a concern. It’s not easy to understand the value of this coverage when most people think that it is redundant since there’s Medicare to pay for long term care needs.

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  • 1. You probably heard about all the discussions and issues about private long term care insurance and wondering why it is even a concern. It’s not easy to understand the value of this coverage when most people think that it is redundant since there’s Medicare to pay for long term care needs.
  • 2. The sad fact is, Medicare does not cover long term care expenses, and at the most will only pay for 100 days of skilled nursing care, that is if your cash allotment doesn’t run out before those 100 days. So with this, private long term care insurance is one alternative that can help people pay for long term care services and protect their savings and finances.
  • 3. When you buy a long term care insurance policy, you are basically purchasing financial protection for you and your family. That’s because the insurance will pay for any long term care related needs such as fees for caregivers, nurses, therapists, and home health aides. You don’t have to shoulder out-of-pocket expenses that will otherwise drain your family savings.
  • 4. A private coverage also pays for the more expensive costs of nursing homes and assisted living facilities, so if you are the patient, you don’t need to depend solely on your family for care. You can choose to enter a nursing home or an adult day care center if you wish and just stay there for a more lively social life and to get the assistance you need daily.
  • 5. Other important benefits and health care demands that private coverage pays for include housekeeping services, laundry services, help with grocery shopping, travelling or transportation, and home modifications that the patient may need in order to move around better in his home. The insurance will pay for additional construction of ramps, staircases, or wider doorways that are especially necessary if the patient is already in a wheelchair.
  • 6. What the insurance will not cover are treatments for addictions and vices such as alcoholism and prohibited drugs. It will also not cover therapies due to war injuries or psychological problems resulting from the same situation.
  • 7. Coverage is mostly within the United States only, but there have been some carries that offer international coverage for a higher premium rate. If you wish to get more details about private long term care insurance, it is best to consult with an experienced agent that can give you various quotes from all major carriers.

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