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It is so important to try and deal with an insurance agent that prides himself in being knowledgeable and fair. If one
prides himself in being knowledgeable they will make sure they deal in facts and are able to set aside what they think. "What
you think" may be important but may not have much to do with the facts. This subject of long term care brings the distinction
of thoughts versus facts to mind. Just thinking about it, one might think home health care is just another way of saying long
term care. They are similar but are different in one important aspect. When it comes to how a service is going to be paid
for, certain plans wont pay for long term care services provided by relatives.
Home health care is a medical
service provided by a certified medical individual at ones home and long term care is services provided by a life skills assistant
in a home or a facility which is not performed by a person with medical certification. This draws a very defined
line between costs for these services and this, of course, is where understanding the difference helps you prepare for them
properly.
When one considers long term care they are preparing for being in a facility or having someone come to
their home to help with basic necessities like eating, bathing, dressing and bathroom. This service is usually a stop
in style rather than the around the clock for a person needing home health care. Also, home health care would be covered
by medicare or medicaid once a person reaches a lack of funds or assets threshold while long term care is not unless the optional
policy is put in force before a serious health problem arises.
The basic guideline for purchasing long term care
coverage is changing in that more advances in treating debilitating conditions like osteoporosis and multple sclerosis and
many others are helping people live stronger in the declining years. Many guidelines concerning preparing for long term care
notes age 65 and I for one am expecting most references to 65 to be upgraded to 75 in the near future. But it is not reasonable
to plan with the latter number in mind yet.
To have a long term care policy in force from a younger age like
55 would optimize the benefit to premium ratio since it gets higher as you get older or have a health set back before you
purchase a policy. But few have the room in their budgets to pay for this kind of coverage due to concern for providing retirement
income.
Premium and coverage options vary from state to state but long term care provided in a nursing home is
at the $68000 per year mark and the care of a life skills assistant in the home is at $18000 a year. Costs will only
go up so some preparation should be made.
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