Why You Should Use Long Term Care Insurance For In-Home Care
Long-term care insurance can be one of the most effective tools for maintaining independence and stability as you age. While it can seem overwhelming at first, getting a grasp on what’s covered and how benefits are activated will help you make clearer, more confident decisions.
We’ll walk through what long care insurance typically covers, how it applies to in-home care, and some key terms and structures you’ll want to be aware of as you plan.
What Does Long-Term Care Insurance Cover?
Long-term health care insurance helps offset the costs associated with extended personal care support, particularly when that support is not covered by traditional health insurance. That means things like assistance with bathing, dressing, eating, and other personal tasks can be covered wherever your loved ones need it, provided at home, in an assisted living community, or in another long-term care setting.
Understanding Activities of Daily Living and Instrumental Activities of Daily Living
We often discuss Activities of Daily Living (ADLs) as a central part of the care provided by the nurses and companions we refer. These often include bathing, dressing, grooming, toileting, eating, and mobility, basic tasks that support a person’s ability to live with dignity and comfort.
But when it comes to insurance, these activities are often broken down even further. Instrumental Activities of Daily Living (IADLs) is a term often used by long-term care insurance providers, and includes responsibilities like managing medications, preparing meals, housekeeping, handling finances, and using transportation.
The distinction between the two is important to keep in mind as you assess your policy. While ADLs tend to be the benchmark for activating benefits from a long-term care policy, IADLs can still provide context for understanding the level of support someone needs.
In some cases, changes in IADLs may be an early signal that more involved care is on the horizon.
In-Home Care Services
Long-term care insurance, depending on your package, can offer comprehensive coverage for a wide range of in-home care options provided by RNs, LPNs, HHAs, CNAs, and companions. These services can support both medical and non-medical needs, allowing your loved ones to remain in familiar surroundings while receiving consistent support.
One of the greatest advantages of long-term care insurance is its ability to adapt alongside your medical needs. Coverage is designed to evolve as mobility, cognition, and general health change over time, so that as additional help becomes necessary, you don’t have to uproot your life to receive it.
Other Covered Services: Adult Day Care, Hospice, and More
Most policies come with additional options, which may be available from the outset or added later, depending on your provider, and may include services such as adult day care, respite care, hospice, or even caregiver training.
These additional features can be especially helpful when planning long-term. The more you know in advance, the better equipped you’ll be to make accommodations that support both care and comfort.
Does Insurance Cover Assisted Living
This flexibility can be a tremendous asset for you and your loved ones, but it’s always important to read the fine print to make sure you understand the nuances of this flexibility.
Checking Your Policy’s Specific Terms
While most modern policies cover assisted living, this has not always been the case. Older policies, or those that are less comprehensive, may have some exclusions or limitations related to assisted living services.
Each policy is different, and terms can vary widely. Don’t assume coverage without checking the fine print, especially if the policy was issued several years ago or purchased through a group plan.
Daily Benefit Amounts and Eligibility Triggers
Benefits typically trigger as your loved one’s medical care needs evolve, guided by the monitoring of a physician. For example, the inability to conduct a certain number of ADLs or a doctor’s recommendation to seek in-home support may prompt benefits to begin. This process generally follows an elimination period, usually around 90 days, during which care needs must be documented before benefits are released.
Why Long-Term Care Insurance is a Smart Choice for Elder Care Planning
More than anything else, long-term care insurance offers peace of mind. By planning ahead, you give yourself and your family the ability to meet future care needs without scrambling financially.
Typically, the earlier you start your plan, the better the value. Premiums are generally lower when you’re younger and in good health, and your coverage can build over time.
And no matter where you and your loved ones may be on their healthcare journey, you can always find an experienced professional to help them continue to enjoy their lifestyle with Living Life at Home.
If you’re looking for help a few days a week or daily support from a skilled nurse, we can refer someone who’s prepared to assist with everything from companionship to complex medical needs. Get in touch today to learn more about your options or to schedule an in-home consultation.