About half of 65-year-olds today will eventually develop a disability and require some long-term care services, according to a study revised in 2016 by the Urban Institute and the U.S. Department of Health & Human Services. Most will need services for less than two years, but about 14% will require care for more than five years.
Regular health insurance doesn’t cover long-term care. And Medicare won’t come to the rescue; it covers only short nursing home stays or limited amounts of home health care when you require skilled nursing or rehab. In addition, it does not pay for custodial care, which includes supervision and helps with day-to-day tasks.
If you don’t have insurance to cover long-term care, you’ll have to pay for it yourself. You can get help through Medicaid, the federal and state health insurance program for low-income people, but only after you’ve exhausted most of your savings.
Purchasing long-term care insurance in San Leandro, CA, can give you peace of mind and protect the savings you worked so hard to build. You’ll know that if you become ill, you can afford the care you need and still have enough money in your nest savings for you and your spouse. Plus, your kids won’t be burdened with huge payments for your care.
If you have any questions on long-term care insurance or want to compare the best policies, contact Namaste Insurance Agency in San Leandro, CA. We are here to help you understand your options and find the coverage that best suits your needs.