Six Things You Need to Know about Ltci and Home Health Care

By Terry Stanfield


When it comes to home health care there are many things you need to consider when you get a long term care insurance quote. These things should be included in the policy and you should be sure you are quoted for them too. Here are 6 things that should be considered when it comes to long term insurance and home health care.

1. The long term care insurance policy should offer at least one year of home healthcare or nursing home coverage or even both. This should also include intermediate custodial care. If you can get this time period longer you might want to consider it.

2. An inflation option is another consideration when you get a long term care insurance quote. The best inflation option will increase the benefit level periodically without you needing to provide proof of your insurance.

3. The long term care insurance cost should be clear about the elimination period. An elimination period to an insurance company for long term care is a set number of days a person must be in home health care before the actual policy kicks in. If you don't meet this number of days you will be responsible for the bill and nothing will be covered.

4. Any long term care insurance policy should give you a time frame of cancellation. You need to be sure you have the right to cancel the policy for any reason you choose within a reasonable time frame like 30 days. This should give you a full refund if you choose to cancel.

5. A long-term health care policy also needs to include a guarantee that the policy will not be canceled on you. Many insurance companies have canceled policies on people when they end up with a mental health condition or just as they age. Be sure the policy includes a promise the policy will never be canceled due to a health condition or age.

6. The policy itself needs to clearly explain the benefits included with the policy. All of the terms and the limitations should be detailed and defined. You need to know the exact amount of money you will pay out of your pocket should you become ill or need home health care.

There are many things to consider when it comes to home health care and obtaining a long term care insurance quote. Don't go with an insurance company who will drop you as you get older or sick. Also make sure you are fully covered for things you might think may happen to you.

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