Surrounding Arms Home Care provides home health and home care in Grapevine, Mansfield, North Richland Hills, Saginaw and Southlake. Please call us in Fort Worth, Texas when you need help - 817-496-1600 or email vkeaton@surroundingarmsinhomecare.com.

When planning your senior’s future, consider these frequently asked questions:

What factors are considered when a person is looking to claim their long-term insurance plan?

Typically aspects of daily living (ADL’s) are looked at, and once a person is no longer able to complete 2 of the following, they typically become eligible; cooking, eating, bathing, dressing, using the toilet, maintaining continence, moving from place to place at home.

How much does a long-term care insurance plan cost?

Annual premiums run from $55 to $12,000 depending upon the plan and coverage.

Is there a maximum daily benefit with long-term insurance plans?

They vary from $50 to $200 per day.

How long does the average person stay in a nursing home or long-term care facility?

Typically about 2 and a half years, so when seeking long-term care insurance you should select the longest benefit period you are able to afford.

Is long-term care insurance tax deductible?

Contracts issued after 1996 have to meet a certain set of standards, however, medical costs that exceed 7.5% of your gross income can typically be deducted.

Are there any negatives to signing up for a long-term care policy?

Premiums may go up or you may be unable to afford to continue paying regularly, which could cause you to lose your plan; the plan may go under; it may not cover all that you expected once you submit a claim; policies can be full of catches and may make it difficult to receive the money once a claim has been submitted; and the nursing home covered by the insurance company may not be much better than the one Medicaid would have covered.

Do your research when it comes to insurance carriers, ask the opinion of others and read all plan details carefully to ensure you know what you’re getting into. Never be afraid to get a second opinion.

http://www.helpguide.org/elder/long_term_care_insurance.htm
http://www.medicare.gov/longtermcare/static/home.asp