Chronic illness Coverage is a Must For All
Long term care health insurance refers to coverage for patients with long term disability and /or chronic illness. Long term care health insurance is often called LTCI. The plan is coverage of an individual who will need care for a period of time that is not known.
Unlike with other medical coverage, one's age is not a determining factor. Of course, many individuals over the age of retirement will need some type of long term care. The fact is that an estimated 40% of individuals are in need of on-going medical care are age 18 to 64.
This kind of policy is aimed at people who have trouble doing everyday tasks. These tasks may consist of taking a bath, cooking, or simply getting out of bed. It may include some individuals that are able to perform these activities, but be unable to shop for groceries.
This type of insurance policy will pay for many kinds of assistance including hospice care, live-in and visiting caregivers, daily assisted living, plus physical and occupational therapy. Many individuals are uncomfortable requesting such assistance from their families. The future is always an important consideration. This type of coverage can be acquired through one's employer or independently and is generally tax deductible.
Some plans are not tax deductible, but fewer and fewer companies offer these, as these are not very popular. Almost all people seek out items that offer some type of tax deduction. It is vital that all fine print is read and to ask questions if anything is not comprehensible. If any details are unclear, speak with someone in the customer service department. In some cases, it may be a good idea to contact a lawyer.
A long term care policy purchased within the United States may cover care only within the US. Read carefully in order to determine if care is covered in other countries. Again, it is wise to ask many questions of a live representative. Most policies that do include care within foreign countries only contain certain forms of care.
The elimination period is another important consideration. This resembles a deductible and before some plans will cover anything it may have to be a year old. Many policies will begin to pay for long term care as soon as is necessary.
As with any important investment, it is vital that one shops around before paying for or signing anything. Companies offer long term care insurance quote and it is possible to quickly get many estimates at one time. This makes it easier to decide which is best for yours and your family's needs.
Unlike with other medical coverage, one's age is not a determining factor. Of course, many individuals over the age of retirement will need some type of long term care. The fact is that an estimated 40% of individuals are in need of on-going medical care are age 18 to 64.
This kind of policy is aimed at people who have trouble doing everyday tasks. These tasks may consist of taking a bath, cooking, or simply getting out of bed. It may include some individuals that are able to perform these activities, but be unable to shop for groceries.
This type of insurance policy will pay for many kinds of assistance including hospice care, live-in and visiting caregivers, daily assisted living, plus physical and occupational therapy. Many individuals are uncomfortable requesting such assistance from their families. The future is always an important consideration. This type of coverage can be acquired through one's employer or independently and is generally tax deductible.
Some plans are not tax deductible, but fewer and fewer companies offer these, as these are not very popular. Almost all people seek out items that offer some type of tax deduction. It is vital that all fine print is read and to ask questions if anything is not comprehensible. If any details are unclear, speak with someone in the customer service department. In some cases, it may be a good idea to contact a lawyer.
A long term care policy purchased within the United States may cover care only within the US. Read carefully in order to determine if care is covered in other countries. Again, it is wise to ask many questions of a live representative. Most policies that do include care within foreign countries only contain certain forms of care.
The elimination period is another important consideration. This resembles a deductible and before some plans will cover anything it may have to be a year old. Many policies will begin to pay for long term care as soon as is necessary.
As with any important investment, it is vital that one shops around before paying for or signing anything. Companies offer long term care insurance quote and it is possible to quickly get many estimates at one time. This makes it easier to decide which is best for yours and your family's needs.
About the Author:
Jon Hendricks frequently writes about medical insurance.To know more about long term care health insurance visit the site.
