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| Home » Information on Health Insurance » Long Term Insurance |
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Long Term Insurance
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Long Term Insurance covers a wide range of medical and support services for people who are in a poor state of health condition. The disease can be Parkinson's, stroke or may be a prolonged illness like cancer or some cognitive disorder like Alzheimer's. Long Term Insurance also provides an individual assistance with activities of daily living or supervision of someone who is cognitively impaired, beside giving the monetary support in case of need.
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While we are healthy we do not think much about the activities of daily living. But, when you or a loved one is stricken with a dangerous illness such as a stroke or Alzheimer's, performing these daily activities becomes impossible without the assistance of another person.
Long Term Insurance Helps to Cover the following:
- Daily activities such as bathing, eating, dressing.
- Skilled nursing care or rehabilitation training either in a nursing facility or at home.
- Cognitive impairment such as Alzheimer's and deals with care-oriented conditions which are actually not cure oriented.
Who Pays For Long Term Care
Many people think that Medicare, Medicaid or their health insurance will pay their Long Term Insurance costs. Medicare has many eligibility requirements for skilled nursing care only and that too, for a limited time period. Medicaid is a welfare program but will not cover long term health care costs for the average American. Health insurance and medical supplements do not cover nursing home care.
Individuals and families through their savings, assets, and cash pay most of the Long Term Care costs.
Long term health insurance is a necessity. As people becomes aged, they are more likely to suffer from chronic illnesses. Statistically, Americans over the age of 65 face around 40% risk of entering a nursing home for Long Term Care services. So to get rid of the tension of old age it is better to come under Long Term Insurance.
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