Here are the points to be considered before taking up a long term care.
Long term care is not just about providing reimbursement like the original Medicare does. It is meant for those permanently disabled, mentally sick with serious ailments like the parkinsons, Alzheimers etc. It is for round the clock service of the patients whose condition probably cannot be reverted.
Due to the all round health care service provided to the patients, it costs a lot. The average cost is about $56,000 in case of Nursing centers. In case of assistance to live, it was about $22,476 per year. Home care was around $12,000 to $16,000 per annum.
The costs of the long term health service can be met in a variety of ways. The very first option is spending from out of pocket (not advisable). The other two include help form both Long term health insurance and the Medicaid (if eligible).
It is at one’s own decision to pay for the long term care or not. If one is very poor, he is advised not to opt for it as there is a provision from the Medicaid. If the case is just the other way that the person is very rich, the person may go with taking the insurance for the long term care particularly if he is growing too old.
If the applicant has undergone a treatment or diagnosis for a while prior to taking the long term cover, the chances that the insurance company covers for that policy are very low, at least for the first six months from the start of cover. Some companies don’t pose such limitations.
Although there are many ways of gaining coverage to the long term care, one has to take care in choosing the way to get it. One may opt for an individual coverage or else go with the cover from the union of the employees. The federal and state governments have offers to provide a comprehensive coverage to the family members of the organization. Certain life insurance programs also deal with the long term health care coverage.
It is very important to enquire a lot before choosing a policy. Many policies offered by the companies are similar but may vary in the price tags. So, before signing, it is very important to have a knowledge of the similar policies that suit the requirement, their price increase history and the extent of coverage.
It is to be noted that the advertisements are not true all the time. Every detail that you receive in the advertisements is to be verified with the concerned agencies.
This is as important as the very taking of the policy. The license of the service provider is to be verified with the state authorities. Make sure that the plan taken has got good star ratings. Check for every single detail of the plan.
The policy provider, after paying for the policy dispatches the policy for you. If there are any questions, they are to be clarified from the insurance agent. If the doubts still persist, they are to be verified from the State health insurance counseling program.