5 Things Families Need to Know About Long-Term Care Insurance

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Long Term Senior Care Insurance in Fort Myers, FL

Long-term care insurance helps cover the costs of caring for elderly loved ones who required specialized care, such as dementia home care or residence in assisted living facilities. Fort Myers home care experts recommend families consider the following points when applying for such insurance.

1. Long-Term Care Can Be Expensive

Some estimates put the cost of long-term care at around $100,000 per year, without considering insurance or access to Medicaid. For most families, such costs can be difficult to bear, making long-term care insurance a wise investment.

2. There Are Varying Requirements

Different companies have different eligibility criteria for long-term care insurance. In general, seniors with cognitive impairment like dementia can benefit from coverage. Other qualifiers may include seniors with incontinence or the inability to dress, walk, or use the bathroom.

3. Policy Costs Can Vary

Insurance costs are based on certain factors, including age, gender, family history, and present-day health. Typically, men receive lower rates because of decreased longevity. The cost of a policy is also influenced by the benefits it offers.

4. Policies Offer Versatile Coverage

The types of long-term care policies are still evolving. At present, the most common type of policy can pay a monthly stipend for in-home caregivers in Fort Myers. Other care policies cover nursing home costs. A few pay for adult day care for seniors with dementia. Some policies cover for a maximum number of years of care or have a maximum cost coverable by insurance.

5. Other Situations Need to Be Considered

Caregivers should carefully evaluate policies to make sure they fit their loved one’s situation and needs. Important considerations include benefit amounts and periods, waiting periods required, services covered, and eligibility. It may not be possible to know what type of assistance your senior loved one may need later on, but it’s important to plan in advance and find a supporting policy.

For experienced, bonded, and insured live-in and hourly care in Fort Myers, seniors and their families rely on Home Care Assistance. Our senior care plans can be fully tailored to suit the needs of seniors and can be covered through one or more long-term care insurance policies. If your loved one is in need of assistance, contact one of our qualified Care Managers today at (239) 449-4701.


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