Long Term Care Insurance Myths
Long Term Care Insurance Myths Long term care insurance is not widely used and commonly misunderstood. In this article, we will debunk some long term care insurance myths that can help you understand it better. 1. It is Only Good for Nursing Home Care Using long term care insurance for nursing home care is very uncommon. According to the American Association for Long Term Care Insurance, 73% of claims being as a home care. [...]
Misconceptions About Long Term Care Insurance
Misconceptions About Long Term Care Insurance Long term care insurance is a type of insurance that can cover home health care, assisted living, and nursing homes. But there are some misconceptions about long term care insurance. In this article, we will clear up some of these misconceptions. 1. I am Covered by Health Insurance Health insurance only covers medical expenses, not assistance with activities of daily living. This wouldn’t include things like help getting [...]
8 Types of Long Term Care Facilities
8 Types of Long Term Care Facilities We are living longer lives, but this increases the need of long term care for most adults later in life. According to the Administration for Community Living, adults that are 65 now have a 70% chance of needing long term care. Of these 20% will need care for 5 years or longer. In this article, we will go over 8 types of long term care facilities that [...]
Insurance Premium Basics
Insurance Premium Basics An insurance premium is the price you pay an insurance company for a policy. Premiums are used in health, auto, home and life insurance policies. Failure to pay the premium can result in the cancellation of your policy. In this article, we will go over the basics of how an insurance premium works. How It Works Premiums are paid either monthly, semi-annually, or as an upfront lump sum. The price of [...]
8 Things You Should Know About Long Term Care Insurance
8 Things You Should Know About Long Term Care Insurance Long term care insurance is a special type of insurance that can cover you financially in the instance that you require costly long term care. In this article, we will go over 8 things you should know about long term care insurance. 1. You Will Receive a Set Benefit Your long term care insurance policy will have a maximum daily or monthly benefit. This is [...]
ALTCS Financial Basics
ALTCS Financial Basics Medicaid is state-provided health coverage for low-income Americans. It can also cover long-term care. Each state has its own system for providing this coverage. In Arizona, this program is the Arizona Long-Term Care System (ALTCS). In this article, we will cover the basics of what ALTCS covers and the financial components involved with qualifying. ALTCS Basics ALTCS is available to residents of Arizona. To qualify you must be over 65 or [...]