When we hear the phrase long term care, most of us intuitively think of care and assistance for the elderly. While the majority of long term care is provided for the aging population, long term care services can also become necessary for younger individuals. In fact, the U.S. Government Accountability Office estimates that 40% of the 13 million people receiving long-term care services are between ages 18 and 64. The need for long term care can arise suddenly from age-related declining health, cognitive disorders, disability, illness, or injury. Any age group, social or economic class, or ethnicity can be affected by an unexpected need for long term care.
The purpose of long term care is to provide assistance with everyday tasks (or Activities of Daily Living) when illness or injury prevents someone from taking care of their personal or health needs. For example, long term care can offer support and services for bathing, eating, dressing, using the toilet, managing finances and medications, and much more.
Many people wonder if purchasing a long term care insurance policy is the right choice. If you consider the cost of out of pocket long term care expenses, paying premiums on a policy can be well worth it. Failure to plan ahead for long term care can place the burden of financially overwhelming expenses onto loved ones. For instance, a semi-private room in a nursing home can cost about $205 per day, a one-bedroom room at an assisted living facility can cost about $3,293 per month, and a home health aide can cost $21 per hour.
Long term care is not merely a concern of the aging, and the need for these services can be a shocking reality for many families. Long Terms Care insurance is certainly a solution, but what happens when you have the insurance, need it to help pay expenses, but the insurance company denies your claim?
It shouldn’t happen, but it does. And it happens often.
If you need help making sense of your long term care policy or your long term care claim, or if benefits have been denied, call us. We can help.
www.kantorlaw.net (800) 446-7529