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Long Term Health Care Insurance in Orlando, Florida

There was an interesting article on long-term health care insurance by Linda Wasmer Andrews; Edited by Bernard A Krooks, JD, CPA, LLM, CELA  in the Summer 2020/ALZinfo.org.  

Do You Need Long-Term Care Insurance?

Many individuals end up in long-term care facilities. Do you have money set aside in case you end up in such a facility? Are you financially secure enough to not need to worry about this? Should you evaluate whether your savings, Medicare, and supplemental insurance policy will cover a nursing home? 

Medicare and supplemental plans don’t cover long-term assistance with daily living activities, such as eating, bathing, dressing and getting around, help that someone with Alzheimer’s is likely to need. Do you know what a skilled nursing facility costs per month in Florida? A memory care unit can cost more than $5,000 a month. How much savings do you have? How long will your savings last at that monthly rate?

What can you do about that? Long-term care insurance is one way to plan for this. Long-term care insurance covers a wide range of long-term services and support. What does long-term care insurance do? It reimburses you up to a set amount for services that help with daily living activities. 

What Are Your Long-Term Care Insurance Options?

Many long-term care insurance policies are comprehensive. That means you can use them in a variety of settings, such as your own home, an adult day service center, a memory care facility, or a nursing home. In a home setting, these kinds of policies may cover the following: skilled nursing care; occupational, physical, speech and rehabilitation therapy; personal care services, such as help with bathing and dressing; and sometimes homemaker services, such as cooking and cleaning. 

The array of coverage options, benefit limits and prices available may seem overwhelming. You need to research the options carefully to find a policy. Make sure you consider these five factors: 

• Timing is everything. 
• Benefits don’t kick in immediately.
• There are limits on coverage. 
• Your policy make expire before you do. 
• You might never use the benefits. 

Sorting through all the different policy options and deciding which one, if any, is right for you can be a daunting task. However, your efforts will be well spent if it buys you peace of mind. 

If you have more questions regarding a Guardianship Law matter, you may call Ann Marie Giordano Gilden at Ann Marie Giordano Gilden, P.A. at 407-732-7620 and set an initial consultation. You may also visit my website at: https://www.AnnMarieGildenLaw.com and check me out on these other sites: Ann Marie Giordano Gilden on Facebook; Ann Marie (Giordano) Gilden on LinkedIn; and Ann Marie Giordano Gilden on AVVO and Lawyers.com. 

This article is for informational purposes only, and it does not form an attorney client privilege.