Long term care has become important in the past few years. A long term care insurance policy can assist you in your needs should you be unable to care for yourself due to disability or prolonged illness. More often than not, people see long term care to happen in a nursing home. However, long term insurance actually covers a variety of private and semi-private care. Long term insurance differs from health insurance or traditional medical care. While your health insurance covers treatment from medical problems or rehabilitation, long term insurance covers day to day lifestyle even if you can not take care of yourself.
In Kansas, there are three means by which you can get long term care without having to spend everything from your own pocket. Medicaid. Medicaid assistance is provided to those who can not afford health insurance. If you have already used up your assets on expenses related to health care, you may benefit for Medicaid. Many aged people tend to spend down their assets for long term care until they have just enough to qualify for Medicaid.
Medicare. Aside from covering inpatient hospital stay due to illness or injusry, Medicare also covers skilled nursing, semi-private room, rehabilitative and other related services for only up to 100 days. However, if you need skilled care or have to be housed in a skilled nursing facility, Medicare will not be able to cover for you. Long term care and custodial care is not part of Medicare health benefits.
Long term insurance. Getting a long term insurance means that your company will cover all your long term needs in exchange for premiums. This will help you avoid spending your assets on long term care, give you more freedom of choice as to which type of care you want, and will protect your family members from having to pay in your behalf.
Deciding on whether you need long term care insurance is a decision that you alone can make. This decision will depend on factors such as your income, family situation and of course, your personal risk factors. If there is a good chance that you will need long term care, getting a long term care insurance is highly recommended.
In 2007, a new long term care partnership program was established in the state of Kansas. This program encourages constituents to partner with state-based programs when purchasing long term insurance from private companies. The policies must first meet the partnership requirements imposed by the state. This partnership program provides a dollar per dollar asset protection. You can get more information about this by contacting the Kansas Insurance Department and your local insurance agent.