When it comes to long-term care and insurance, there are a lot of things that people need to know in order to make the best decision for their loved ones. In this blog post from Angels On Call Homecare in New York, we will discuss four important things that our customers need to know. We hope that this information will help you make an informed decision about long-term care and insurance!
Long-Term Care Insurance Covers More Than Nursing Homes
One of the biggest misconceptions about long-term care insurance is that it only covers nursing home costs. However, this is not the case! Long-term care insurance can actually cover a wide range of services, including in-home care, assisted living, and even adult daycare. This means that you can use your long-term care insurance to pay for the care that your loved one needs, regardless of where they receive it.
Long-Term Care Insurance May Cover More Costs Than Medicare
Another common misconception about long-term care insurance is that it will only cover the costs that Medicare does not. However, this is not always the case! In some instances, long-term care insurance may actually cover more costs than Medicare. This is particularly true if your loved one needs specialized care or services that Medicare does not cover.
It’s Likely That You’ll Require Long-Term Care During Your Lifetime
Many people believe that they will never need long-term care. However, the reality is that most people will require some form of long-term care during their lifetime. In fact, according to the U.S. Department of Health and Human Services, about 70% of people over the age of 65 will require long-term care at some point in their lives.
There Are Many Types of Long-Term Care Policies Available
When it comes to long-term care insurance, there are many different types of policies available. The two most common types are Traditional Long-Term Care Insurance (LTCI) and Asset-Based Long-Term Care Insurance. Asset-based long-term care insurance is a newer type of policy that uses your assets to cover the costs of long-term care.
No matter what type of long-term care policy you choose, it’s important to make sure that it meets your loved one’s needs. If you have any questions about long-term care or insurance, we encourage you to contact us today!