Long Term Care Insurance and Home Care

Considering your options for aging in place? It is important to understand the cost of the different options as well as the resources available to cover these costs.

One valuable resource for covering the cost of care for seniors is long term care insurance. This is also referred to as LTC insurance. Many long term care insurance policies cover home care services, assisted living, memory care, and skilled nursing. Every policy is different, so you will want to review your specific policy.

Important items to look for include:

• What type of home care services the policy covers.
• The elimination period. (This is the number of days you will need to pay for home care services before the policy will begin to cover the cost.)
• The daily benefit amount.
• The maximum benefit period.

You will also want to understand the requirements to qualify for home care benefits. The policy typically requires the holder to have a dementia diagnosis or need assistance with two activities of daily living. These include bathing, dressing, toileting, transferring, eating, and continence. They may also be referred to as ADLs.

At Griswold, we can help you understand your long term care insurance policy and provide home care services covered by your policy.