Hollander Home Healthcare

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Houston, Harris County 77040

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hollanderhomehealth
Jun 10

What are some important things to know about long-term care insurance plans for seniors and couples?

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Edited: Aug 16

The term “long-term care” refers to the assistance offered to an individual with a chronic illness or disability over an extended period of time. Medicare and other insurance may not cover the care that you need. With long-term care insurance, you can receive the aid that you need from a home healthcare or other long term care provider without depleting all your retirement savings. Deciding to buy long-term care insurance is a personal choice. However, there are some factors that may help you decide, such as:

 

  • You own a large number of assets or receive significant amounts of income and feel that you wouldn’t qualify for Medicaid.

  • You want to lead an independent life even when you get older.

  • You are able to pay the premiums (you may also be eligible for some tax benefits).

  • You currently have a medical condition or your family has a history of chronic illnesses or disabilities. If you have already been diagnosed with health problems, it may be difficult to get insurance.

 

How Much Does Long-Term Care Insurance Premium Cost?

Some factors that determine how much insurance will cost include your age and health status. Although insurers offer policies to those aged 18 - 85 years, the longer you wait to purchase the policy, the more it will cost. The monthly premium for a younger person can be significantly lower than that of an older person, especially if there are health issues.

 

Nowadays, more people are recognizing the benefits that come with having a long-term care insurance policy. Explore products in the market and determine what's right for you!

 

 

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