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LONG-TERM CARE INSURANCE:

Long-term care insurance is designed to wrap & cover the costs of nursing home care, which can be several thousand dollars each month. Long-term care is usually not covered by health insurance except in a very limited way. Medicare covers very few long-term care expenses. There are many plans and they vary in costs and services covered each with its own limits. Long Term Care includes a wide range of medical and support services for people with a degenerative condition (e.g. Parkinson's, stroke, etc.), a prolonged illness (cancer) or cognitive disorder (Alzheimer's with memory loss).

Long Term Care is not necessarily medical care but quite "custodial care" Custodial care engrosses providing an individual assistance with activities of daily living or supervision of someone who is cognitively impaired. Long Term Care Insurance has been approximately in one form or another since the early days of Medicare. The policies during this time bear little resemblance to today's policies. While early Long Term Care policies were similar to a basic Medicare supplement policy, today Long Term Care insurance has evolved and typically covers a broad range of services including nursing home care, assisted living facilities and adult day care.

A recent survey indicates 3 in 10; believe they encompass insurance that covers long term care and home care. An industry association estimates just 6% have purchased such insurance. It is obvious many people confuse long-term care insurance with other types of insurance.

WHY DO YOU NEED HEALTH INSURANCE?

Health insurance helps to make sure that you and your family are protected against the financial hardships that may result from health care expenses. Today, health care costs are high and getting higher. Who will pay your bills if you have a serious accident or a major illness? You buy health insurance for the same reason you buy other kinds of insurance, to defend yourself financially. With health insurance, you protect yourself and your family, in case you need medical care that could be very expensive. You cannot forecast what your medical bills will be. In a good year, your costs may be low. However, if you become ill, your bills could be very high. If you have insurance, a third-party payer covers many of your costs, not by you. A third-party payer can be an insurance company or, in some cases, it can be your employer. The main reasons why we need health insurance are as follows

Let's face it - health insurance is a necessity in today's world.

Just think of the costs that you would incur if you were injured tomorrow! Or you were diagnosed with a life threatening illness!

You may be healthy today, but you can not guarantee your health tomorrow.

In addition to medical emergencies, routine conditions requiring visits to a physician happen all the time (e.g., pregnancy, viruses      that seem to hang on forever causing dreadful diseases, moles that don't look quite right). This is especially true if you have      children. Ear infections, rashes, and high fevers are commonplace with infants and children; many trips to the doctor can be      pretty expensive without health insurance.

So, it’s safe and advisable to have a health insurance policy at an affordable cost to benefit from the above-described issue.

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