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Commonly asked Long Term Care Insurance Questions

Medicare Supplemental & Long Term Care Insurance

Updated on Jul 17, 2013

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With the ongoing battle between cheaper health care and finding the right insurance, it just seems that no one can ever find both or neither. However difficult it can be, there are always better ways of finding the right health care plan; you just need to ask the right long term care insurance questions.
Does Medicare cover for long term care insurance (LTCI)? This is probably the most commonly asked question by every average American who has been through the experience of struggling with health care insurance. This question seems like it was based on a logical idea since Medicare provides hospital bill coverage so the thought of having LTCI covered would appear feasible. Sounds good but ultimately, Medicare was not designed in that manner. It simply covers hospital bills for seniors but not including custodial care.
How about getting coverage for custodial care? Though Medicare does not provide coverage for custodial care, this is handled by Medicaid. Custodial care involving assistance with daily living (ADL), eating, dressing, bathing, toilet use, and moving are included with the coverage of Medicaid. One setback about Medicaid is that it only qualifies people with low income and disability needs to be evaluated before being declared eligible for the provisions of benefits.
Is the coverage of Medicare permanent or for a life time? Medicare can shoulder the first twenty days of being hospitalized for 100% of any or all accumulated expenses but come the 21st day, up until the 100th day, copayment will be implemented. Though Medicare is commonly used by seniors, it doesn’t completely set seniors as the exclusive qualifiers of coverage. Younger people can get eligibility after getting a written and approved recommendation from a physician that identified the condition of disability which will then qualify the case of being eligible for health care aid.
Other long term care insurance questions include “Why is Medicaid mentioned when speaking with an LTCI specialist but Medicare isn’t?” The reason for this is the fact that the funds from LTCI will eventually be depleted and soon, once it has been exhausted, the insurance holder will be utilizing Medicaid if in the future, the holder would not have any more funds from long term care (LTC).
With this in mind, Medicaid proves beneficial after the LTCI funds have been exhausted, but this doesn’t always occur but can safely assumed in forming a “Plan B” for health care services. One advantage of using Medicaid is the fact that it can be used with the Partnership Program of your state which helps you get covered by Medicaid without having to spend down your assets, only so to qualify for eligibility.
These were the common questions gathered from polls by people who wanted to know how to maximize their benefits with health care.Having long term care insurance questions helps in bringing clarity with taking advantage of Medicaid and Medicare along with utilizing the benefits from your owned LTCI. For more details, visit your local LTCI vendors or consult with LTCI specialists.
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