Long-Term Care Insurance
Long-Term Care Insurance Information
Health insurance plans typically do not cover long-term care, but you can help prepare for your future needs by obtaining long-term care insurance.
What Does Long-term Care Insurance Cover?
Long-term care insurance may help cover the costs associated with care if you have a chronic medical condition, disability or disorder. Most policies may help pay for care in the following places:
- An assisted living facility
How Does Long-term Care Work?
When you apply for long-term care insurance, you may need to provide medical records and the insurance provider may interview you to learn more about your situation. Once you are approved for coverage, you will begin paying premiums. Most long-term care policies state that you are eligible for benefits once you are unable to do at least two out of six activities of daily living (ADLs) on your own or if you suffer from cognitive impairment.
The following are the six ADLs:
1. Bathing
2. Caring for incontinence
3. Dressing
4. Eating
5. Getting on and off the toilet
6. Getting in out of bed or a chair
When it is determined that you need care and want to make a claim, your insurance company will most likely review medical documents from your health care providers before approving the claim. Under most policies, you must pay out of pocket for a certain amount of time before the insurer begins reimbursing you for expenses.
How Much Long-term Care Insurance Do I Need?
To determine how much long-term care insurance you need, it’s critical to evaluate how much care may cost depending on where you live and what type of care you are looking for. You should also factor in any income you’ll receive from Social Security and your pension.
How Much Does Long-term Care Insurance Pay for Assisted Living?
The amount that your long-term care insurance pays for assisted living depends on the details of your specific policy, such as its coverage limits. Reach out to our agents for more information and to discuss available options
Long-term Care Insurance Quote in Reynoldsburg, OH
Contact Reidel Insurance Agency to learn more about long-term care insurance. Our professional, licensed staff has more than 120 combined years of experience to help you get the coverage you need.
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