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Melanie Meaux Sahara,
SEI, (Solutions, Excellence & Integrity)
| Q. |
What is Long Term Care Insurance?
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| A. |
Long Term Care Insurance may pay for help with the activities of daily living, home health care, respite care, hospice care, adult day care, care in a nursing home, and care in an assisted living facility. Long Tern Care may also include Care management services, which will assist in evaluating your needs and co-ordinate and monitor your care.
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| Q. |
Is Long Tern Care Insurance Right For You?
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| A. |
You should NOT buy Long Tern Care Insurance If
- You can not afford the premiums.
- You have limited assets.
- Your only source of income is a Social Security Benefit or Supplemental Security Income (SSI)
- You often have difficulty paying for utilities, food or medicine.
- You are on Medicaid.
You Should CONSIDER buying Long Term Care Insurance If
- You have significant assets and income.
- You want to protect some of your assets and income.
- You can pay premiums, including possible increases, without financial difficulty.
- You want to stay independent of the support of others.
- You want to have the flexibility of choosing care in the setting you will be most comfortable in.
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FYI:
Nursing Home Costs:
In 2001 the national average cost of Nursing Home care was $56,000 per year.
Assisted Living Facility Costs:
In 2001, the average cost of Assisted Living facilities was $22,476 per year.
Home Health Care Costs:
In 2001, the national average cost of Part-Time basic home care coverage ranged from $12,000 to $16,000 per year. Keep in mind that skilled care provided by a nurse is more expensive than care provided by a home health aide.
For professional and confidential information contact Mel: mel@info4seniors.net
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