Health Insurance Care Long Term – Clarifying Things
Health Insurance Care Long Term Clarifying Things
This is usually excluded from coverage provided by it. A comprehensive health insurance plan will only give you coverage for not more than 90-120 days. That's why there's need for long term care insurance policy is a wise move if you want to protect yourself from the financial ruin that could result from long term non-medical care.
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It still remains under regular health insurance if the care required is purely medical in nature. However, for long term care that come in the form of assisted living, you need long term care insurance.
To ensure we all are on the same plate, I'll take a few moments off to explain what assisted living is. Due to a health condition or age, some people require assistance in daily routines and simple things like bathing, getting in and out of bed, getting dressed and so on.
While in most cases such care is given by family members, it does have a disorganizing effect both emotionally and socially. And, if you consider that some may require such care for a year or more, you'll appreciate the toll it could have if you don't have insurance coverage for it.
Furthermore, using a nursing home for a year could cost a couple as much as $180,000. This will ruin many people's finances. To avoid such ruin, long term care insurance is also taken apart from your health insurance policy.
Let me stress this: Your health insurance plan does not cover cost for assisted living or non-medical care for any protracted period. However, long term care insurance too does not serve as an alternative to health insurance. They are both different but useful insurance policies.
Not everyone needs long term care insurance. If you are very rich and can easily afford to spend $100,000 a year for long term care you don't need long term care insurance. If you're also so poor that you really qualify for Medicaid, then you don't need long term care insurance.
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