Elderly Care: In Home Care

Is In Home Care Covered?

Typical health insurance plans do not cover the expenses associated with long-term and in-home health care. Unfortunately the federal/state health insurance program Medicaid will only kick in to cover the in-home health expenses after you’ve already exhaust your total net worth. Long-term health care insurance fills the gap and can help finance the expenses associated with in-home care such as:

• Visiting nurses to come directly to your home
• Nursing home and assisted living housing
• Help to maintain ones daily routine such as eating, bathing and dressing

Purchasing Long Term Care

Most people consider buying their long-term health insurance coverage when they are too close to using it. Do not put off making the decision to purchase a long-term health care policy that covers elderly in-home care. It is prudent to actually purchase that type of coverage when you are healthy and middle-aged, as it will be easier to be approved for coverage and the premiums will be more affordable.

In-home care provided by a long-term health insurance plan can be extremely costly, especially to those on a fixed income. According to the AARP, an individual who’s 65 years old and in good health can expect to pay between $2,000 and $3,000 a year for a policy that covers nursing home care and home care, with premiums adjusted for inflation.

But if paying that amount of money does not negatively impact your cost of living, it would be wise to look into it. You will be able to provide yourself with peace of mind and still be able to maintain a degree of independence for as long as possible.

Learn How to Prepare for Elderly Care Costs! >>>