Long Term Care Ins 长期护理保险

What is long term care insurance or LTC i

LTC is an insurance product provide for the cost of long-term care for older age people, and Long-term care insurance covers care generally not covered by Health Insurance , Medicare, or Medicaid.

Medicaid provides some of the benefits of long-term care insurance. Medicaid does provide medically necessary services for people with limited resources who "need nursing home care but can stay at home with special community care services." However, Medicaid generally does not cover long-term care provided in a home setting or for assisted living. People who need long-term care often prefer care in the home or in a private room in an assisted living facility.

What Long Term Care cover?

Home care, assisted living, adult daycare, respite care, hospice care, nursing home and Alzheimer's facilities.

When can I start using LTC?

Policy requires that a person :

1) be expected to require care for at least 90 days, and be unable to perform 2 or more activities of daily living (eating, dressing, bathing, transferring, toileting, continence) without substantial assistance (hands on or standby);

2) for at least 90 days, need substantial assistance due to a severe cognitive impairment. In either case a doctor must provide a plan of care.

How LTC rate?

Age

Benefit( daily or monthly)

How long the benefits pay

The elimination period

Inflation protection

Health rating (preferred, standard, sub-standard)

Why the LTC is so important ?

For millions of Americans,celebrating an 80th,90th and even a 100th birthday is increasingly likely. When you live a longlife,there is a very high risk you will need the type of care that's referred to as long-term care.

Needing long term care places an enormous emotional and physical strain on loved ones and family members.That's why having a plan is so important. Incorporating long-term care(LTC) insurance into your financial plan can help you protect your assets. It can reduce the burden of care that would otherwise fall on family members and enable you to receive care in the setting you most prefer, including your home .

What are the odds I'll need care?

Many people find it hard to see themselves needing hands-on assistance with basic living activities like bath ing, getting dressed and eating. So they avoid thinking about it altogether.The U.S. government reports that 70% of people who reach age 65 will require long-term care services at some point in their lives.

We prefer to say that your real risk is either 0% or 100%.And, that the real question -and the bigger risk-relates to the length of time for which you may need to receive care services. Your plan must prepare for the risk of needing care that could last many years.

Many people find it hard to see themselves needing hands-on assistance with basic living activities like bath ing, getting dressed and eating. So they avoid thinking about it altogether.The U.S. government reports that 70% of people who reach age 65 will require long-term care services at some point in their lives.

We prefer to say that your real risk is either 0% or 100%.And, that the real question -and the bigger risk-relates to the length of time for which you may need to receive care services. Your plan must prepare for the risk of needing care that could last many years.

What's the best age to start planning?

You will never be younger or healthier than you are today.That's the reason to start planning now when you have the most options.The average age for new individual long term care insurance applicants is 57; an age when many are able to qualify for good health discounts. This discount reduces costs and remains even if your health changes.