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Long-term care insurance is an insurance policy
that is sold in the United States and United
Kingdom. These insurance policies provide for
the expenditure incurred in long-term care that
is required beyond a fixed period. The benefits
and coverage provided by Long-term care insurance
are generally not available by health
insurance, Medicare, or Medicaid.
This may have set you thinking about what may
make a person eligible for Long
Term Care Insurance? This type of insurance
is provided to individuals who require long-term
care and those people who are unable to perform
even the basic activities of daily living. People
who require a few months to recover from an
accident, surgery or illness are also eligible
for Long Term Care Insurance.
Coverage provided by Long-term care
insurance:-
Long-term care insurance covers assisted living, home care, adult daycare, respite care, hospital care, nursing home and Alzheimer's facilities. If you purchase the policy with home care coverage, then under this plan you will get the benefits of a visiting or live-in caregiver, companion, housekeeper, therapist or private duty nurse up to 7 days a week, 24 hours a day.
There are basically two types of Long-term
care insurance offered:-
Tax qualified (TQ) policies are the most common policies offered. The eligibility criteria is that the person must require care for at least 90 days and be unable to perform 2 or more activities of daily living. The benefits are non-taxable.
The Non-tax qualified (NTQ policies) often includes a "medical necessity" trigger, which means that the patient's own doctor, or a doctor in union with someone from the insurance company, can affirm that the patient needs care for a medical reason and the policy will have to pay.
Statistical reports reveal that at least 50%
of people may require long term health care
insurance before the age of 65. So if you believe
that you or your loved requires a Long-term
care insurance then go ahead and get online
quotes that is provided by us at HealthPlans.com,
so that you can select the right Long-term care
insurance plan for yourself or your loved.
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