If you or someone you know has long-term care (LTC) insurance, it can help pay for home care services. It would be beneficial to re-familiarize yourself with your policy before you file a claim to pay for home care services. We can help!
The Basics of Long-Term Care Insurance
Although each long-term care insurance policy could be slightly different, they all typically require that you or a loved one meet a specific criteria in order to receive benefits through your policy.
For instance you may be eligible to initiate the claim process if:
• You need assistance with two or more of Activities of Daily Living, also referred to ADL’s. These tasks include eating, dressing, bathing, toileting, getting in and out of bed or chair, and Bladder/bowel control. Also, another qualifying factor would be if the person receiving care has a cognitive impairment.
Most policies have an elimination period or some times referenced as a “benefit waiting period. This is like an insurance deductible that is measured in time, 30, 60 or 90 days commonly, rather than a dollar amount. This is the time period that you would have to cover the cost of any services before the insurance company starts to pay.
Questions to Think About Before Initiating a Claim
- What is my elimination period? Is it calendar days or service days? Is there a minimum amount of hours a day in order for it to count as a day of care?
- How many ADL’s do I need to require help with before I qualify?
- What is my daily, weekly, or monthly maximum? What is my total policy allowance?
- Do I have to continue paying premiums once I activate my policy?
- If I stop needing care or am hospitalized, does the elimination period start over?
We Offer Complimentary Educational Presentations for Senior Communities
A great activity for senior communities. Schedule a seminar where your community can hear from advocates. Understanding the ins and outs of their long-term care insurance benefits. We answer questions like: When is the right time to open a claim, how do you start the process, what does my policy cover? Attendees can bring their questions and policies for this interactive seminar; to begin to take advantage of their benefits.