Health insurance is a vital component of healthy living for millions of Americans. While health insurance premiums have continued to climb with the cost of health care itself, it has made it difficult for many families to continue carrying this type of coverage.
While the laws have been changing during the past decade, with more changes likely on the horizon, regular individuals struggle to navigate the requirements and various options available to them. Most people, though, never think twice about long-term care costs or just what their primary health insurance policy may cover with regard to these expenses.
Most health insurance policies do not provide for long-term care.
Most of these health insurance policies will cover some intermediate or short-term care options, including physical therapy or nursing home care, but beyond a few weeks or, at most, a couple of months, they don’t provide financial support for these longer-term expenses.
That’s why long-term care insurance is so vital. A family that relies on health insurance and never thinks about the potential cost of long-term care could be putting themselves in a difficult circumstance in the years ahead.
For example, a couple in their late 60’s who has paid into their health insurance policy for more than 20 years, perhaps partially covered by their employer, may have grown accustomed to the monthly premiums, deductibles, co-pays, and so forth, but suddenly find themselves in a difficult circumstance.
One of them has suffered a serious medical emergency and was in the hospital for more than a week. Maybe they transitioned to a nursing home for a couple of weeks after that, but have learned that this road to recovery is going to be far longer than either of them could have anticipated.
While that individual suddenly requires long-term care, the couple was planning to submit these bills to their insurance provider, but after a month and a half they received a letter denying coverage. Suddenly, even though they may appeal the decision and will likely be upheld, they will find themselves having to pay for this long-term care out-of-pocket.
With staggering cost of some long-term care options, such as over $100,000 a year for nursing home care, that can completely wipe out an entire family financially in a matter of just a couple of years.
Now is the time to consider long-term care insurance.
Just because you have a good health insurance policy doesn’t mean it’s going to provide long-term care coverage. Find out exactly what it would cover and consider also a long-term care insurance policy as a supplement.
If you or a loved-one are considering Long-Term Care Insurance Cost in Carlsbad CA, please contact Steve Elliott at Capstone Insurance for an honest discussion about your future and your options. Call today (858) 350-3161.
I work with all the major insurance companies and my objective is to help my clients determine if long term care protection makes sense for them and if so, to help them shop the market to find the best company at the best rate
I specialize in Traditional Long Term Care Insurance as well as Hybrid Long Term Care Plans which are either a combination of Life Insurance and Long Term Care or an Annuity Plan with Long Term Care
I’ve been specializing exclusively in Long-Term Care Insurance Planning for over 21 years.
Steve was recognized as a 2003 Long Term Care Expert of the Year at The National Long Term Care Producers Summit
2006 was awarded Senior Market Advisor of the Year Finalist by Senior Market Advisor Magazine
National Speaker for Numerous Industry Meetings
Awarded Nations Top 10 Agent 8 times by the American Association of Long Term Care Insurance
Author of numerous published articles on long term care planning