| Protect
Your Assets...Consider
Long-Term Care Insurance |
|
| With
the average American Baby Boomer reaching retirement, Long-Term
Care Insurance quotes (ltc) policies should be on the minds of many people
today. Long-Term Care Insurance protects you, as well as your
loved ones in the event that extended care is needed during your life. |
| WHAT
IS LONG-TERM CARE? |
| Long-Term Care
covers help with: |
- Daily activities such as bathing,
eating, dressing
- Skilled nursing care or
rehabilitation training either in a nursing facility or at home
- Cognitive impairment such as
Alzheimer's and deals with care-oriented conditions, not cure oriented
|
| WHO
PAYS FOR LONG TERM CARE? |
- Many people are under the impression
that Medicare, Medicaid or their health insurance will pay their
Long-Term Care costs.
- Medicare has eligibility
requirements for skilled nursing care only and is for a limited
time period.
- Medicaid is a welfare program.
- Health insurance and medical supplements
do not cover nursing home care.
- Individual and family through their
savings, assets, and cash pay most of the Long-Term Care costs.
|
| Top
10 Reasons People Should Obtain a Long-Term Care Insurance Quotes Policy: |
| 10. |
The
government isn't going to pay for long-term care at home, in a nursing
home, or in an assisted living center. Medicare pays 100% of
long-term care for 20 days and all but $95.00 per day for the next 80
days--after that nothing. However, Medicare only pays for skilled
care and most long-term care is not skilled care. |
| 9. |
The
national average cost for nursing homes is approximately $105.00 per
day. Assisted living ranges anywhere from $50 - $90 per day.
If you live on the Eastern Seaboard you can easily spend $50,000 to
$80,000 for a year's stay in a nursing home. These costs are
perfectly capable of wiping out a lifetime of savings--not to mention the
emotional effect long-term care has on a family. |
| 8. |
A
Harvard University study showed that 69% of single people and 34% of
married couples would exhaust their assets after 13 weeks in a nursing
home. 13 weeks = 91 days! |
| 7. |
At age
65, a woman has a one out of two chance of spending some time in a nursing
home. A man has a one out of three chance. In the case of men,
mortality catches up with morbidity. |
| 6. |
Medicaid
kicks in only after a person's assets and dignity are gone. In many
states the eligibility threshold for single people is $1,500 in
assets. After all Medicaid is WELFARE. |
| 5. |
Children
would like to help, but children often have children of their own.
They certainly can't quit their jobs to care for their parents. |
| 4. |
Health
rarely improves with age. |
| 3. |
People
can't buy long-term care coverage at crisis time or when they are ready to
use it. |
| 2. |
American's
have access to the best health care in the world, if they can pay for it. |
| 1. |
Most
people want to choose where they go instead of having to go where they are
taken, and if independence is important to them, they will need to have
either a big estate or adequate insurance. |
