Free Information About Long Term Care Insurance
You can obtain free information about long term care insurance from many insurance companies that would like to be chosen by you to purchase from them, but there are also many other free publications and counselors from government entities, etc . that can enlighten you about this type of insurance which is often necessary especially as one ages. Each state also has different "rules", so you need to check your own state's information.
Long term care insurance helps people of any age, or with a disability or long-term illness, with aid when they need help with their medical needs or cannot perform the normal daily living chores such as eating, dressing, bathing, housekeeping, taking medicine, etc. Short term "home heatlh care", if provided by a nurse or therapist, after a hospital stay of three days, as well as hospice care is covered by Medicare.
Most policies have a waiting period where you have to pay for your own care for perhaps 20 to 120 days before the benefits are paid. The premium is lower if the higher period is used. Some policies require that the policy be paid up to a year before collecting benefits. So it is important to know what your policy covers.
Some policies are called Tax-Qualified and give some federal income tax advantages. Check with your accountant.
When you progress to the stage of having to be in a nursing home, you must use your own funds until they are almost gone, and then you should qualify for your state's Medicaid.
The Deficit Reduction Act of 2005 makes the Partnershp for Long Term Care available to all states, providing "lifetime asset protection" from the Medicaid spend-down requirement.
Returning to your ability to get free information on long term care insurance, here are some of the resources:
Your State Health Insurance Program (SHIP) provides information and counselors to explain the facts. To find the phone number of the SHIP in your state, call the Medicare Hotline at 1-800-633-4227 or online go to http://www.medicare.gov
The Eldercare Locator (1-800-677-1116) can refer you to your Area Agency on Aging which provides information on a variety of community-based services. Their Long-term Care Ombudsmen visit nursing homes and other long-term care facilities to protect the residents' rights and give emotional support.
Hospital discharge planners, social workers, health care professionals, clergy and many others can steer you toward information on long term care insurance. |
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