Long Term Care
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Phone: (800)
298-1400
Fax: (310) 826-0628
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Even a sophisticated planner may overlook the possibility
that someday he or she, a spouse, or a parent might need Long
Term Care. With the current high cost of health care, very
few people can afford the extended care required with chronic
illnesses, injuries or not being able to perform simple task
of every day activities. Thus, LTC insurance is important
everyone. LTC is not limited to Nursing Homes Care, but also
include professional care you may receive at home or perhaps,
in a residential care facility.
How much does Long Term Care Cost?
The financial impact of long term care is significant. One
year in a nursing home can cost anywhere from $35,000 to
$80,000- the national average is $41,000 per year. This is
more than someone's earning at retirement age.
Does Medicare pays for Long Term Care?
Unfortunately, one of the most common myths is the coverage
of nursing home by Medicare. Medicare only pays 20 days of
nursing facility in full, provided the patient has been
hospitalized for at least 3 days and has entered a Medicare
approved facilities within 30 days following hospital
discharge and meet other requirements. The next 80 days
patient has to pay the first $97 per day of expenses. After
100 days elapse, nothing is paid by Medicare.
When is an individual eligible for the
benefits?
The benefit are paid when an individual is under regular
care of a doctor and unable to perform two or more Activities
of Daily Living (ADLs) or has a deterioration or loss of
cognitive skills. An individual who requires the substantial
assistance of another to accomplish these task is considered
disabled. ADLs are defined as: eating, toileting,
transferring, bathing, dressing, continence and
ambulating.
Want a proposal? Simply complete the online quote
request form or call
1-800-298-1400
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