Is Long Term Health Insurance A Good Idea?
- 1350 POINTSview profileKatherine McDanielsOwner/Insurance Broker, KM Health Insurance Services, Hazel Crest, IllinoisThis is a great question. In my professional opinion I would say absolutely. LTC plans can cover medical and non medical care that you may need. Many people feel that Medicare will pay the cost, NOT TRUE. Medicare covers Skilled Nursing but not non-medical services i.e. help with eating, bathing, dressing, etc.Answered on May 9, 2013flag this answer
910 POINTSview profileKen BoncelaAgeny Owner, Farmers Insurance, Ken Boncela Insurance & Financial Services, Oswego, lllinoisLong-term care insurance is probably not a great choice for the very wealthy or the very poor. The very wealthy can self-insure and the very poor would be strapped by the premiums. But for most of middle America, the very reail probability of needing long-term care at some point in their lives, and the very high cost of that care warrants very serious consideration of having a plan of long-term care a part of their portfolio. Medicare pays very little of the cost. Medicaid pays none of the cost if you have assets. And the stresses placed on family to provide that care when it can't be paid for are devastating. Talk to a long-term care insurance professional. And check out "A Shopper's Guide to Long-Term Care Insurance" at http://www.ltcfeds.com/documents/files/NAIC_Shoppers_Guide.pdfAnswered on May 10, 2013flag this answer
Did you find these answers helpful?
Yes
No
Go!
Add Your Answer To This Question
You must be logged in to add your answer.
.JPG){kind=avatar}
