If you’re thinking about getting long-term care insurance, consider the following advice:
- Do your research. Find out the average cost of long-term care in your specific geographic area. Call several facilities that interest you and compare their cost against the services they provide.
- Consider only policies that cover different settings. Make sure that includes home care, assisted living facilities, and nursing homes because your needs will increase as you age.
- Anticipate inflation. Invest in a policy that covers at least five percent inflation protection. According to an article in U.S. News & World Report, nursing home costs are increasing at least that fast.
- Opt for a longer elimination period. Your premiums will be lower if you can afford to pay for care during your “elimination period,” the time between filing a claim and receiving benefits.
- Review assisted living provisions. Although covered nursing home services are fairly standard, assisted living services can vary widely between insurance companies and even between policies.
- Check out the insurance company. Make sure that you buy from a reputable insurance provider that is licensed to do business in your state.
- If you have questions, get help. Call your local State Health Insurance Assistance Program for free information and advice.
If you need the services of a Kentucky nursing home abuse attorney, call Gray and White Law at 502-210-8942 or toll free at 888-450-4456 to set up a FREE, no-obligation consultation.