Long-Term Care Insurance & Coverage For In Home Care Services In Easton, MD
Comfort Keepers explains how you can use long-term care insurance for financing in home care services.
If you would feel better knowing that your loved one has a professional caregiver to count on for assistance and support, consider working with our loving team of care providers in Easton, MD. Comfort Keepers offers a number of high-quality in home care services to choose from, including in home care, Alzheimer’s and dementia care, and respite care. Together, we can create an individual care plan designed to meet your loved one’s exact needs.
At home care services are the most desirable option for most seniors. However, many older adults are unsure if they can afford this type of care. The good news is that there are a lot of financing options that can help your loved one pay for these services without having to sacrifice their preferred lifestyle or tap into savings.
One of those options is long-term care insurance. While coverage for long-term care insurance may be expensive, unlike traditional health insurance, it is specifically designed to cover long-term care costs. It can allow your loved one to pay for home care and enjoy their golden years without worrying about finances. Still, before opting for this solution, it is important that your loved one is certain that they can afford it. A financial advisor can help your loved one determine whether this is really the best option for their future.
It can also be useful to know that long-term care insurance policies often have specific stipulations about what they cover, when benefits are paid out, and how long they will cover the cost of care. Bear in mind that in addition to offering inflation protection, which is a good way to protect your home budget, some policies also have waiting time. This so-called elimination period is the length of time between making a claim and actually receiving benefits. Although it may seem to you that this period should be short to make the most of long-term care insurance, the truth is that seniors who opt for longer waiting times pay lower premiums.
Having long-term insurance can support your senior loved one’s financial independence throughout their post-retirement years and help them preserve their life savings too.
For more information regarding long-term care insurance and coverage for in home care services, please contact our Comfort Keepers office in Easton, MD.