Long-Term Care Insurance
Have a Long Term Care Insurance Policy but need assistance with how to use it? We at Aaron Home Care can help you understand your benefits and how to apply them to caregivers in your home. We have existing relationships with the following Long Term Care Insurance Companies: Calpers, TransAmerica, Mutual of Omaha, LTCG, Unum, CAN, Genworth, Bankers, John Hancock, SHIP and Continental, among others. Reach out today for your free consultation.
Aaron Home Care Knows Long-Term Care Insurance
Aaron Home Care has had years of experience in helping our clients navigate all aspects of Long-Term Care Insurance, from understanding their policies, applying them toward home caregivers, and collecting on any applicable reimbursements. If you have a Long Term Care Insurance (LTCI) Policy, you’ve probably been paying into it for years.
You should maximize the benefits you deserve by understanding how it all works.
Here are some basic tips to follow starting now, whether you plan to use your benefit immediately or sometime in the future.
Have a copy of your Long Term Care Insurance policy handy.
Having a policy copy easily accessible to you and your loved ones will make it easier when the time comes to use it. There are many instances when our clients or their families knew there was a policy in place, but then had to scramble to figure out who the company was and what the benefits were, causing delays in start of care or reimbursements.
Know your benefits.
Review the details of your LTCI policy now, if you haven’t already. Not all policies are the same.
- Does your policy cover in-home care, facility care, or both?
- What services will be covered?
- What is your maximum daily, weekly, or monthly benefit? Clients are often surprised when their LTCI benefits don’t cover the full cost of the care they actually need. Knowing these numbers will help everyone budget for all eventualities.
Know what “ADLs” are.
Most insurance companies will trigger LTCI benefits when you need assistance with at least two (2) of six (6) Activities of Daily Living, or ADLs. They are:
- Bathing
- Dressing
- Eating
- Transferring
- Toileting
- Continence
Understand what your “waiting period” is and how it works.
Most insurance companies require a waiting period, also known as an “elimination” or “deductible” period, where policyholders are responsible for the cost of care after the benefit is triggered. This waiting period can range from 10-180 days, and there are different ways a company can structure this. Many people wait until full-time care is needed before triggering their benefits, not realizing that they will have to pay for the full cost of care for the length of this waiting period.
With a full understanding of how your waiting period works, you might choose to trigger your benefit sooner, when less care is required, resulting in having to pay less out of pocket.
Does Long-Term Care Insurance Pay for Home Care?
Yes, most long-term care insurance policies do cover home care services. Home care, also called in-home care, refers to assistance provided in your own home by a home health aide, homemaker, or companion. This type of care allows seniors and individuals with disabilities or illnesses to receive the care and support they need while remaining comfortably and safely in their homes.
Typical home care services covered by long-term care insurance include:
- Personal care like bathing, dressing, grooming
- Meal preparation, cooking
- Light housekeeping, laundry
- Medication reminders
- Transportation
- Companionship and socialization
Home care coverage details, including daily/monthly limits and types of approved providers, can vary between long-term care insurance policies. Always review your specific policy documents to confirm your home care benefits.
Do All Long-Term Care Insurance Policies Cover Home Care?
No, not all policies cover home care services. Some long-term care insurance plans only cover facility care like nursing homes and assisted living. Others exclude coverage for homemaker services like meal prep, laundry, and light housekeeping.
To ensure your policy includes home care coverage, the key is to look for benefits that cover “home health care” or “care in your home.” Policies that cover assisted living but not in-home care will not reimburse you for any home care services.
When shopping for long-term care insurance, prioritize plans that offer comprehensive home care benefits. This ensures you’ll have coverage for home care aides if you ever require assistance to continue living comfortably and safely at home.
Providing exceptional Long-Term Care Insurance Analysis and Home Care for seniors and families in La Jolla, Pacific Beach, Point Loma, San Diego, UTC, La Mesa, Chula Vista, Coronado, Bonita, Eastlake and surrounding communities.
Will Aaron Home Care Help Me File My Claims?
Yes, Aaron Home Care streamlines the claim process for all our clients! Our team can deliver all the necessary documentation directly to your Long Term Care Insurance Company, including invoices and care notes. We have worked with many Long Term Care Insurance companies already, like Calpers, Bankers, TransAmerica, Genworth, Mutual of Omaha, LTCG, Unum, CNA, SHIP, John Hancock, and Continental, and we understand how to make the process work efficiently.
You will also be able to see when your claim was delivered so you stay as up-to-date as possible. We’ll handle all the administrative details so you can focus on other things, like your health and quality time with loved ones.
Will Aaron Home Care Review My Policy for Me?
Absolutely! At Aaron Home Care, we are happy to review your existing long-term care insurance policy at no cost to verify your home care coverage.
We can review your policy documents, and we’ll examine the benefits outline, daily/monthly limits, approved provider requirements, and any other home care coverage details.
We have extensive experience navigating long-term care policies. We’ll provide a summary of what home care services are covered and answer any questions you have on getting the most value from your unique policy. Knowing exactly what’s covered reduces confusion and makes it easier to submit claims once home care begins.
It is our mission to allow seniors to live at home safely and comfortably by providing the skilled and compassionate caregivers they need.
What is Long-Term Care Insurance?
Long-term care insurance is a type of insurance policy that helps pay for long-term care services, like care in your own home. Long-term care refers to assistance with daily living activities, also called Activities of Daily Living (ADLs), that a person needs help with over an extended period of time due to an illness, disability, or aging. Long-term care insurance can help cover costs for care provided at home, in an assisted living facility, or in a nursing home.
Long-term care insurance policies reimburse policyholders for covered services up to a daily or monthly dollar limit. Policies may also have a maximum lifetime limit. Some policies have an elimination period similar to a deductible, where you pay out-of-pocket before coverage kicks in. Benefits are usually triggered when you cannot safely perform a certain number of ADLs on your own.
Who Can Get Long-Term Care Insurance?
Long-term care insurance is available to adults 18 and older, though coverage when you’re younger tends to be more affordable. Health conditions typically do not prevent you from qualifying for long-term care insurance coverage, though pre-existing conditions may not be covered right away.
When applying for long-term care insurance, you’ll go through a medical underwriting process where the insurance company reviews your health background. This will determine if you’re approved for standard coverage or if certain conditions or limitations will apply.
The best time to purchase long-term care insurance is in your 50s to mid-60s. By applying when you’re younger and healthier, you can lock in lower premiums. Waiting until you’re older increases the risk you could be denied coverage or forced to pay significantly higher premiums.
About Aaron Home Care
Aaron Home Care was born from a passion to make a difference in the lives of seniors. Our top priority is providing the best non-medical home care. Whether you’ve just begun thinking about home care solutions or you’re ready to schedule a consultation, we’re here and ready to help.
As a California-licensed, bonded and insured Home Care Agency, all our caregivers are trained and registered as Home Care Aides. The Aaron Home Care team is dedicated to serving clients, 24/7/365. Rest assured knowing that our clients and the caregivers that are attending them are fully supported round-the-clock.
