Right at Home – Senior Home Care – The Right At Home Way

The costs associated with home care can vary greatly depending upon the number of hours of service needed each day or week, where you are located in the country and the level of services you need. As many things can affect the costs of home care, there are many options and tools seniors can use to pay for home care. Right at Home would like our readers to be aware of their options when it comes to paying for home care. This post is the first in a series to help you gain a better understanding of some of the options.

Long Term Care Insurance

One option is to plan for the future through the purchase of long term care insurance. Just like other insurances, with long term care insurance, policy owners pay a premium for coverage in the event that you will need home care, an assisted living facility or a nursing home in the future. There are many different types of policies—some that even protect against inflation—that you can choose from. Of course, the best time to apply is when you are healthy, young and not in need of it.

Before you make any decision on whether or not to purchase long term care insurance, you should seek the counsel of your financial advisor, elder law attorney or insurance agent to fully review all of the different types of coverage available.

The price of the insurance will vary greatly on your age, health history and types of coverage you want, etc. The price will also be impacted by the maximum daily dollar amount the policy will pay and for how long the policy will pay it and the elimination period. Be sure you fully understand what is covered and what is not before you buy.

In addition, be sure to check out the company who will pay on the policy. Are they stable, reputable and do they have a good rating? Do they have any complaints against them?

Long term care insurance can be an important investment in your future, but it’s very important to have all of the facts before you buy. Here are some links you may find useful as you begin your search for long term health insurance:

AALTCI.org: The American Association of Long Term Care Insurance

NAIC.org: National Association of Insurance Commissioners.