If you have health insurance, your insurance pays your medical bills in the event of illness or injury. Health insurance, however, usually does not cover the costs of long-term care, which may present a significant financial risk.
Long-term care insurance offers protection if you require sustained support due to a disability or chronic illness. The insurance covers care both in a nursing home and in your own home or an assisted-living facility. A long-term care policy might also cover the cost of services such as visiting nurses, meal preparation, help with household chores, or adult daycare.
Long-term care is expensive, though the amount depends on the length of time and the level of care required. Most long-term care expenses are borne by the patient and the family. Medicare pays a limited amount and often covers only short-term care. Medicaid is available for people who meet federal poverty guidelines and for nursing home residents who have exhausted their savings.
Several types of long-term care insurance exist. Premiums vary depending on the level of benefits you choose as well as your age and other factors. A licensed agent who specializes in long-term care insurance is the best source for extensive information.
Maurice Blond Agency, Inc., offers a comprehensive range of insurance, including disability, health, and life. Laurel Blond serves as President of the agency, which is located on New York’s Fifth Avenue. Possessing expertise in long-term care insurance, Ms. Blond shares her knowledge at numerous seminars. Laurel Blond is married to Rabbi Leib Tropper. The couple has three children and one grandchild.