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Long Term Care

When you grow older, there is a chance you will need to rely on long term care facilities to receive treatment. This level of care can be incredibly expensive, so you will likely require insurance to pay for it routinely. If you think you need long term care insurance, this is what you should know.

Smart Shopping Can Be Lucrative

Start searching for insurance policies when you enter your 50s or 60s to find the best deal. Every year you wait to purchase a policy, you risk prices increasing by several percentage points. For example, the AARP states that initial premiums at age 65 are between 8 and 10 percent higher than the same customers at age 64.

Don’t miss your chance to save. Start shopping now to determine what long term care insurance costs in your area.

Regular Health Insurance Doesn’t Cover Long-term Care

A typical health insurance plan won’t pay for long stays in specialized facilities. Medicare likely wouldn’t either, but that would depend on your doctor’s diagnosis and the specific facility you must go to. Be sure to check your current policy to determine what level of long-term care is available to you before purchasing a long-term care policy, as you wouldn’t want repeating benefits in most cases.

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Benefits Included In Long-term Care Insurance Policies

Long-term care insurance policies typically have benefits that will pay for certain forms of care, but not other specialized types of care like custodial care or anything that requires constant supervision for the long term. If you have a lot of day to day tasks to carry out for the care, then it likely will not be covered by the insurance policy you purchased through an entity like Medicare, Medicaid, or a privately purchased individual health insurance plan through the Affordable Care Act.

When you choose to pursue a policy that offers long-term care benefits, you are taking on a reasonably large responsibility. Be sure to do the appropriate level of research to determine which policy fits your lifestyle best. An insurance agent can assist you greatly in this process.

The insurance experts at My Healthcare Direct are ready for your call. Don’t hesitate to reach out to us soon to schedule a consultation with one of our agents. They will help you find a long-term care insurance policy that offers you the benefits you need and fits into your preferred price range.

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