Long Term Care Benefits Overview
There are a variety of LTCi benefit option policy rules and features available, which can vary by state and the company providing the policy. Typical benefits include the following:
There are a variety of LTCi benefit option policy rules and features available, which can vary by state and the company providing the policy. Typical benefits include the following:
An alternative to traditional LTCi
Benefit amount available for reimbursement for eligible services received at home, an assisted living facility, nursing home, or adult day care.
Minimum number of days to exhaust pool of money. It may take longer to exhaust pool of money if one is requiring less than the daily or monthly maximum or if receiving benefits on a nonconsecutive basis.
Ex: 1,095 days at $100/day = $109,500 pool
Amount of time after certification (see benefit eligibility triggers) before benefits are reimbursable. Only one elimination period must be met in a lifetime.
Eligible services must be received on a given day to qualify.
Eligible services not needed on a given day to qualify.
Increases the daily/monthly benefit and total pool of money by a fixed percentage typically between 3% and 5%. Consumer Price Index is not a fixed percentage and changes year to year.
Certification that policy holder requires substantial hands-on or stand-by assistance for an expected period of at least 90 days. Either a cognitive impairment, such as senility, dementia, Alzheimer’s, or an inability to perform without assistance two of six Activities of Daily Living, such as ambulation, bathing, dressing, feeding, grooming, and toileting, triggers eligibility of benefit.
Trying to determine if you have appropriate coverage for home care or processing Long Term Care insurance claims can be extremely confusing and time-consuming.
If you need help determining whether or not you or your loved one qualifies for home care services under their current insurance plan, Homewatch CareGivers can help.
Homewatch CareGivers offers Long Term Care coverage evaluations free of charge
Contact us today for a free, no-obligation Long Term Care insurance analysis. Our experienced LTC professionals will provide a policy eligibility determination and advise you on the terms of your policy in an effort to maximize the Long Term Care benefits you are paying for.
The Home Care Spot offers assistance with long term care insurance for our clients. In addition to proving free LCTi policy evaluations and free processing of home care claims for individuals with long term care insurance benefits, we can also provide free quotes for long term care insurance throughout Chicago and the North Shore suburbs including both Cook County and Lake County. We provide our home care, senior care and dementia care services to residents of Arlington Heights, Buffalo Grove, Chicago, Deerfield, Des Plaines, Evanston, Glencoe, Glenview, Highland Park, Fort Sheridan, Highwood, Kenilworth, Lake Forest, Morton Grove, Niles, Northbrook, Park Ridge, Lincolnshire, Lincolnwood, Libertyville, Skokie, Wilmette and Winnetka.