Why do people bask in fame and fortune only to turn to Medicaid when it is time for them to receive long term care (LTC)? Had they considered an indemnity long term care insurance policy at the time they were healthy and financially comfortable, then they wouldn’t be waiting in a long queue of Medicaid hopefuls.

Although indemnity policies are not designed for everybody as it is very costly, anyone with an enviable income should try to consider it because it guarantees instant access to any type of LTC service while protecting assets.

So many individuals forget the essentials when they are the peak of their careers raking in thousands of dollars every year. Now LTC happens to be one of those essentials because everybody grows old and eventually loses the ability to do the simplest of everyday activities from bathing and dressing to transferring and eating among others.

Planning for one’s LTC should be done decades prior to retirement because it is not something that can be done overnight. It entails a lot of research involving his future health care requirements and the average cost of care where he lives.

It is only by recognizing his LTC needs and being completely familiar with the daily and annual costs of nursing homes, assisted living facilities, in-home care, and adult day health care centers, to name a few LTC settings, that an individual will be able to plan coherently his future needs.

To know the level of care that he will most likely require, the planner simply has to visit his doctor and undergo certain tests that will reveal the present state of his health. The results of these tests will tell him whether he is at risk of developing a chronic illness or not.

Indemnity Long Term Care Insurance

Contrary to the common misconception of LTC, it is not only the elderly population that needs this type of service. Anyone regardless of age can require care it at some point in his life but the question is who can afford to pay for LTC?

Statistics reveal that less than half of the total population receiving LTC is paying for their health care needs. Majority of them are completely dependent on Medicaid while some 10 million are covered by private insurance.

If the country’s residents will continue to depend on Medicaid for their LTC needs it will not take long before the funds of this health insurance program disappear. It has to be remembered that Medicaid is first and foremost for the poor in society so even if you wind up qualifying for this program you will not be able to receive the quality of care that you are expecting as Medicaid has to strictly use its budget wisely, lest it runs short and a lot of people suffer.

All Americans who are currently earning more than $75,000 annually are encouraged to study the features of an indemnity long term care insurance policy as this type of LTC plan offers everyone the opportunity to be in full control of his LTC needs.

For further questions about indemnity LTCI plans, contact your trusted insurance agent.

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