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Understand How To Pay For Long-Term Care

Understanding How To Pay For Long-Term Care

According to the Medicare 2013 Handbook:

Long-term care is non-medical care for people who have a chronic illness or disability. Non-medical care includes non-skilled personal care assistance, like help with everyday activities, including dressing, bathing, and using the bathroom. At least 70% of people over 65 will need long-term care services at some point. Medicare and most health insurance plans, including Medicare Supplement Insurance (Medigap) policies, DO NOT pay for long-term care, also called custodial care.

So how do you pay for long-term care if it’s not covered by Medicare?

Long-term care insurance— This type of private insurance can help pay for many types of long-term care, including both skilled and non-skilled (custodial) care. Contact your insurance agent for more information about long-term care insurance.

Personal resources— You can use your own resources to pay for long-term care. Some insurance companies let you use your life insurance policy to pay for long-term care. Ask your insurance agent how this works. You may also choose to pay for long-term care through a trust or annuity.

Other private options— Besides long-term care insurance and personal resources, you may choose to pay for long-term care through a trust or annuity. Certain private insurance such as VA (Veterans Administration) insurance, Railroad or Steelworkers health plans or other private insurance may also cover long-term care.

To find additional resources and the original article you can explore the official U.S. government Medicare handbook  “Medicare and you 2013″

Or you can visit the US Department of Health & Human Services “Long-term Care Information Website”

Sincere Care is a Long-term care provider we accept long-term care insurance, private pay, and other private options. Which ever way you decide to pay for your long-term care, we promise to make it affordable, just give us a call to talk to one of our knowledgeable care managers. 626-398-2098