Introduction
Long term care insurance is an important part of senior care planning today. It can help you or your loved ones ensure access to home care services should they be required at any point in the future. Knowing what long term care insurance is and how it can be used for home care is the key to being able to identify if you or your loved one qualifies as well as how to successfully file a long term care insurance claim. In this blog, we’ll explain how long term care insurance works for home care and what steps you need to take to qualify for it.
Definition of Long Term Care Insurance
Long Term Care Insurance is an insurance policy designed to pay for the cost of necessary care in the event that an individual becomes unable to care for themselves. This type of insurance typically covers home care services such as in-home nursing, therapy, and assistance with activities of daily living. In order to qualify a home care claim for Long Term Care Insurance, the person must meet the individual carrier's criteria for diagnosis, functional status and duration of care.
Popularity of Long Term Care Insurance for Home Care
As the cost of home care continues to increase, more people are looking for ways to ensure that their loved ones are taken cared of in the future. Long term care insurance for home care is quickly gaining popularity as one way to ensure that seniors can stay in their own homes as long as they are able. Many of the insurance policies will cover a wide range of medical and personal care services, such as home health aides, homemaker services, and skilled nursing care at home. These policies can provide invaluable peace of mind for families who worry about their loved one’s future. Although it can be expensive, having the policy in place can make a huge difference in the quality of life for seniors and their families.
Overview of How Long Term Care Insurance Works for Home Care
Long term care insurance can provide individuals with the benefits needed to stay in their own homes and maintain their independence. This type of insurance can provide financial assistance for expenses related to home health aides, adult day care, and other personal services that seniors require to live and stay healthy in their own homes. These policies generally cover expenses for medical, and non-medical services for individuals with chronic conditions, disabilities, or illnesses. Furthermore, long term care insurance helps to protect personal assets by providing coverage for many services that are not covered by Medicare or Medicaid. Therefore, long term care insurance is an important part of any future financial planning and should be seriously considered.
Qualifying for Long Term Care Insurance for Home Care
Qualifying for long term care insurance for home care can be a bit of a challenge. The first thing you should do is to make sure that your policy includes home care as an approved benefit. Once you have determined that, you will then need to present your insurance provider with proof that you meet their eligibility requirements. This will usually include a formal assessment of your functional ability to perform daily activities. Additionally, you must present a plan of care from an approved provider that includes services to directly address the needs identified in the assessment. Once your claim is approved, you can begin the process of receiving home care with your long term care insurance policy.
Qualifying Factors for Approval
Your policy will specify what conditions are required for your claim to qualify, but in many cases, the qualification is that the insured must need care for at least 2 Activities of Daily Living (ADLs). Call your insurance company or consult your insurance policy for specifics about your policy. Long Term Care Insurance policies vary greatly, including qualification terms for Home Care.
Qulifications for Dementia care are different than the ADL requirements. For Dementia Care, documentation from a physician is recommended.
How to File a Long Term Care Insurance Claim
Submitting Claim Requirements
Filing a long-term care insurance claim doesn't have to be stressful. With the right preparation and understanding of the process, you can start to take action and get the help you need. Before you start, it's important to know exactly what your coverage and the policies you have in place provide. You'll also need to know the dates of service and what documentation is necessary to move forward with the claim.
Working with Your Insurance Company
Consider talking to your insurance provider to ensure you have all the documentation you need for a smooth filing process. Don't forget to keep paperwork and notes of conversations, just in case the claim is denied. Once you're sure you have everything necessary, you can initiate the claim with your insurance provider, and make sure to remain in contact until you start to receive the benefits you deserve.
Filing a Long Term Care Insurance Claim for Home Care
Your insurance company will provide you a writtern form or website form for opening the claim. Be sure to have supporting materials ready including service that are needed by the Home Care provider. These should focus on the Activities of Daily Living that are needed or statement regarding Dementia diagnosis.
Benefits of Long Term Care Insurance for Home Care
Overview of Home Care Benefits
Long term care insurance has become an increasingly popular option for individuals looking to receive quality home care during a prolonged illness. Whether you are dealing with chronic health issues or are incapacitated due to an impairment or disability, long term care insurance can provide the coverage you need to manage your care in a setting you are most comfortable in. Not only will you be granted access to the necessary supplies and professional care to best manage your condition, you can rest assured that you get these services and amenities in the comfort of your own home. This not only helps you avoid the need to relocate to a care facility, but lets you spend the last moments of your life surrounded by familiar faces and loved ones. Long term care insurance helps alleviate the financial burden of home care, so you can focus on your overall health and well-being.
Levels of Care Provided
Home Helpers specializes in allowing Senior to remain independent in their home. In addition to helping with Activities of Daily Living, Home Helpers of St. Louis can assist with Home Making Services and Companionship Services.
Reimbursement Rate for Long Term Care Insurance for Home Care Services
When deciding to use a long-term care insurance policy for home care services, it is important to consider the reimbursement rate for home care services which are covered. Typically, this rate is set by the insurer and it can vary depending on the services required and the amount of coverage provided by the policy. The reimbursement rate for long term care insurance for home care services should be thoroughly researched prior to purchase in order to ensure that you get the best deal available. In most cases, there is a daily reimbursement rate. Any costs above that daily rate are not reimbursed, so understanding the costs and reimbursement rates affects total out-of-pocket expenses.
Cost Estimates for Covering Home Care
At Home Helpers of St. Louis, we undestand Home Care is an essential for remaining safe and independent in the home. We work hard to control costs and provide affordable rates for our clients. Our rates vary on the number of hours requested for each shift and what days of the week the services are provided.
Please call our office at 636-735-3536 for more details. You can also complete our Services Request Form to request and in-home assessment and to tell us more about your care needs.
Find our more about our our company by visit our About Us page, the Communities We Serve and read our Reviews.
Conclusion
Summary of How to Use Long Term Care Insurance for Home Care
Opening a long-term care insurance claim for home care services may seem like a daunting task, but with careful preparation and communication, the process can be manageable and stress-free. Understanding your policy, gathering the necessary documentation, and maintaining open lines of communication with all parties involved are key elements to ensure a smooth and successful claims experience. By taking these steps, you can navigate the path to peace of mind, knowing that your long-term care insurance is serving its intended purpose when you need it most.
At Home Helpers of St Louis, we have been work with Long Term Insurance providers including John Hancock, UNUM, Guaranteed Trust Life, Transamerica, Disability Manage Services Continental Casualty Company and Genwork Life Insure Company for over 5 years. We have the experience to answer your Long Term Care Insurance questions. Give us a call today at (314) 701-7698 to see how you can use your Long Term Care Insurance to keep you living at home.
