Long-Term Care Insurance Questions

1. Do some long-term care insurance policies protect assets when you're applying for Medicaid?

   Yes, there are special "state partnership" long-term care insurance policies in a few states that allow someone to qualify for Medicaid coverage of long-term care while keeping much more in assets than Medicaid rules would normally permit. Those states are California (Medicaid is called Medi-Cal in California...
   FAQ 1 Expert Answer

2. How do we decide between a reverse mortgage for my father or a personal loan from me?

   Loans between family members are always fraught with potential complications, and your case is no exception. There are a number of issues to consider, but they all boil down to one big issue: What would be the impact of this type of loan on you and your family?
   1 Expert Answer, 1 Community Answer

3. What is the age limit for long term care insurance?

   Generally, insurance companies do not sell long-term care insurance policies to people over the age of 84. Even if you were able to find a company that would sell you long-term care insurance at that age, the premium would probably be prohibitive.
   1 Expert Answer

4. How will receiving long term care benefits affect my social security benefits?

   Long-term care insurance benefits and Social Security benefits are completely unrelated. Receiving benefits from either one does not affect the other.
   1 Expert Answer, 1 Community Answer

5. How can I figure out how much money I’ll need for long term care?

   This is a very good question since the cost of long-term care is constantly rising. This makes planning ahead for long-term care costs essential when you are considering long-term care insurance.
   1 Expert Answer

6. Why are there no long term care insurance policies to fit my needs?

   Actually most long-term care insurance policies sold today do provide funds for care that may result from cognitive issues like Alzheimer's, dementia, and senility when it reaches the point that supervision is required.
   1 Expert Answer

7. Is there any way I can find affordable insurance for my mother?

   I have had these kind of memory issues arise from time to time with my clients too.
   1 Expert Answer

8. Why isn't my father receiving the right amount of money from his long term care insurance company?

   There are two types of payments from long term care insurance policies. The most common one is reimbursement-based. This pays for costs that are actually incurred by the beneficiary. In your father's case, he only paid $109 per day, so that is what he is reimbursed for. The other type is indemnity-based, sometimes called cash-based...
   1 Expert Answer, 1 Community Answer

9. What Do Single Women Need to Know About Long-Term Care Planning?

   Long-term care is essentially a “women’s issue”. Women almost always take ultimate responsibility for the day-to-day care of a parent or other family member in need of care. This is particularly true for single women, who sometimes feel guilty if they don’t step in and provide the bulk of the care re care required by a parent or a sibling...
   1 Expert Answer

10. When is it the age to buy long term care insurance?

    The earlier you buy long-term care insurance, the lower your premiums will be.
    1 Expert Answer, 5 Community Answers

11. How come I do not qualify for long term care insurance?

    There is almost no regulation by the government of long-term care insurance . So, no one has a "right" to buy long-term care insurance. That results in insurance companies refusing to sell policies to people they think are likely to collect on the policies soon, or who might collect for a long time...
    1 Expert Answer

12. Can mom's long-term care insurance cancel her?

    I know that it's pretty easy and convenient to blame insurance companies for situations that don't work out as well as we would like. And there are occasions when the insurance company is clearly not seeing things correctly.
    2 Expert Answers, 1 Community Answer

13. Will being a breast cancer survivor disqualify you from getting LTCI?

    Most long-term care insurance carriers will accept someone with a history of cancer treatment as long as it has been treated successfully and sufficient time has passed with no recurrence.
    1 Expert Answer

14. Can you be denied long-term care insurance if you are diabetic?

    Diabetes is a matter of concern for most long-term care insurers, but many diabetics are approved for coverage. The results of their decision can depend on several factors.
    1 Expert Answer

15. Are there any long term care insurance companies serving Florida that will accept clients with history of depression, anxiety, and chronic fatigue syndrome?

    I wish that I had better news for you but it is difficult for anyone who is receiving long-term disability payments to get long-term care insurance coverage.
    1 Expert Answer

16. How does a care agency process bills when the elder has long term care insurance?

    That depends on the terms of the insurance policy. Some long-term care policies specify that the insurance company will pay home care benefits only if the care is provided by a licensed home care agency. In that case, the insurance company and the care agency arrange for payments to be made directly to the agency...
    1 Expert Answer

17. What are our options for paying for my mother's assisted living housing costs?

    1 Expert Answer, 2 Community Answers

18. Does having a pacemaker make you uninsurable for long-term...

    Just having a pacemaker implanted does not automatically result in a decline of an application for long-term care insurance.
    1 Expert Answer, 3 Community Answers

19. Is there a program to help pay the cost of assisted living?

    Since your mother receives Supplemental Security Income (SSI), she's eligible for Medicaid coverage in her state. In some states, Medicaid will pay most of the cost of residence in certain assisted living facilities. That's because it's a lower cost alternative for Medicaid than paying for nursing home care...
    1 Expert Answer

20. How can I get paid for taking care of parents?

    There are two ways you might get paid for taking care of your parents -- in addition to your parents paying you directly. Depending on the rules in your state, you might be able to get paid as a home care aide if your parents qualify for the state's Medicaid program and Medicaid providing them with home care...
    1 Expert Answer, 6 Community Answers