| Recent studies highlight what is a growing set of | | | | LTC coverage includes services that are used to |
| problems associated with long-term health care | | | | assist with both medical and non-medical needs of |
| costs. Many of these problems arise out of the | | | | people suffering from debilitating and chronic |
| fact many Americans simply do not know how | | | | illnesses or other types of disabilities, are unable to |
| much these costs are and many rely on Medicare | | | | provide adequate care for themselves much of |
| to pick up the bill when, in many cases, there is | | | | the time throughout the day. Long-term care |
| not enough to go around. If these issues were | | | | insurance helps to keep down the costs that will |
| not enough, the fact that numbers of people | | | | be regular part of day to day life. A standard |
| declaring bankruptcy because of out of control | | | | policy should deal with the costs of nursing-home |
| medical bills, has created its own share of | | | | facilities. With LTC coverage you have the chance |
| difficulties for long-term care and insurance | | | | to receive a daily dollar benefit or a fixed amount |
| coverage for those people who are not at | | | | of money each day. |
| retirement age. | | | | There are five central areas to view when |
| Other factors that are beginning to have a | | | | considering long-term health insurance. They are |
| greater impact upon health care costs and | | | | comprehensive or facilities-only plans, daily benefit |
| coverage involves companies reducing the range | | | | amounts, the elimination or wait time, the benefit |
| of their pension plans (in some cases, getting ride | | | | period, as well as inflation protection. |
| of pension programs entirely) and the health care | | | | Comprehensive plans help pay for costs of care in |
| benefits that are associated with those plans. | | | | the home as well as an outside nursing facility. |
| Major medical problems later on in life, during your | | | | Facilities-only plans require the care takes place at |
| retirement years can have negatively affect your | | | | a long-term care facility such as a nursing home |
| retirement savings amount since Medicare will | | | | or a hospice. They are also the less expensive |
| handle only so much before you will have dip into | | | | option when compared with comprehensive plans. |
| your own funds. | | | | Some plans pay on a monthly or weekly basis is |
| Long-term care insurance (LTC) is one of the | | | | called the daily benefit amount. The benefit |
| answers to this growing problem that is offered | | | | amount is the amount of time that you the |
| by many insurance companies to protect | | | | customer wish establish to receive the daily |
| consumers from these types of situations. These | | | | benefit amount. This period varies. |
| unique insurance policies take the place of the | | | | How long you have to wait from the time you |
| frustrating experience dealing first with Medicare | | | | are eligible for the benefit until you begin receiving |
| up to the point where extended care options are | | | | them. When policies have brief or non-existent |
| mentioned. Medicare does not cover extended | | | | waiting periods, the costs will be quite high over |
| care situations. This makes long-term care | | | | the course of time. Inflation protection is a way |
| insurance a more appealing option, particularly | | | | to mitigate the rising health care costs. |
| when all other avenues have been exhausted. | | | | |