[jane032657]

Originally Posted by Chi-Town

LTC insurance is reimbursement. Not an acceptance issue.

Sent from my VS995 using Tapatalk

Yes reimbursement AFTER you have been accepted to start receiving it. You need to have some of daily living needs, 2 to 3, to be able to use the insurance you pay for. So if you are independent and moving into assisted living, you cannot use it. But if you have a few needs of daily living, such as mobility, eating, dressing, bathing/bathroom, or if you have memory care, then you should be accepted to use it. Read your policy carefully and also try to get one that allows you to bring help into the home in case you prefer that option.

[billethkid]

Originally Posted by jane032657

Yes reimbursement AFTER you have been accepted to start receiving it. You need to have some of daily living needs, 2 to 3, to be able to use the insurance you pay for. So if you are independent and moving into assisted living, you cannot use it. But if you have a few needs of daily living, such as mobility, eating, dressing, bathing/bathroom, or if you have memory care, then you should be accepted to use it. Read your policy carefully and also try to get one that allows you to bring help into the home in case you prefer that option.

This was a must have in our final selection.

[Schaumburger]

I'm the original poster who started this thread a few weeks ago. I'm now waiting for my LTC application to be completed by Mutual of Omaha. The nurse's health screen/memory interview conducted last week was quite interesting.

[Chi-Town]

Originally Posted by Schaumburger

I'm the original poster who started this thread a few weeks ago. I'm now waiting for my LTC application to be completed by Mutual of Omaha. The nurse's health screen/memory interview conducted last week was quite interesting.

With LTC health issues don't necessarily preclude denial. It isn't like life insurance where they want longevity. Per my agent.

Sent from my SM-T310 using Tapatalk

[retiredguy123]

One thing about LTC insurance that has always bothered me is what do you do if the insurance company denies your claim because they say you are not sick enough? How can you trust the company to pay up when you need it?

[NotFromAroundHere]

Originally Posted by retiredguy123

One thing about LTC insurance that has always bothered me is what do you do if the insurance company denies your claim because they say you are not sick enough? How can you trust the company to pay up when you need it?

Necessary qualifications will be spelled out in the policy. Usually based on ADL's (Activities of Daily Living). If certified by a licensed health care practitioner that you are unable to perform a specified number of ADLs without assistance (dressing, eating, bathing, etc.), and you receive that assistance in accordance with your policy, they pay.

[Chi-Town]

ADL per Investopedia:

Activities of daily living (ADL) are routine activities that people tend do every day without needing assistance. There are six basic ADLs: eating, bathing, dressing, toileting, transferring (walking) and continence.

Sent from my SM-N910V using Tapatalk

[baustgen]

Mother lasted 3 mos in nursing home, father none, mother in law 1 month, father in law 2 months. Somewhere I read that the average stay in a nursing home is 3 months when you factor in those who never spend any time in one. Long term care insurance just doesn't seem like a good bet. Better off loading up your 401K. My experience with nursing homes is that one's in smaller towns are both nicer and cheaper.

[Schaumburger]

Originally Posted by baustgen

Mother lasted 3 mos in nursing home, father none, mother in law 1 month, father in law 2 months. Somewhere I read that the average stay in a nursing home is 3 months when you factor in those who never spend any time in one. Long term care insurance just doesn't seem like a good bet. Better off loading up your 401K. My experience with nursing homes is that one's in smaller towns are both nicer and cheaper.

This policy also covers "at home" care -- say I would need to hire someone to help me at home x number of hours a day or a week if I need help with the activities of daily living mentioned in earlier posts.

[slipcovers]

Originally Posted by Schaumburger

This policy also covers "at home" care -- say I would need to hire someone to help me at home x number of hours a day or a week if I need help with the activities of daily living mentioned in earlier posts.

Medicare covers if you need at home care, also covers
nursing home for 90 days. After that I will call Dr Kavorkian, I don't want to vegatate in a nursing home.

[Wiotte]

Originally Posted by slipcovers

Medicare covers if you need at home care, also covers

nursing home for 90 days. After that I will call Dr Kavorkian, I don't want to vegatate in a nursing home.

Dr. K is dead. He took his own advice.


Sent from my iPhone using Tapatalk

[slipcovers]

Originally Posted by Wiotte

Dr. K is dead. He took his own advice.


Sent from my iPhone using Tapatalk

Where is the nearest bridge?

[ukbill70]

My wife and I have had LTC insurance for 12 years now, The premiums have never gone up and I hope we never have to use it. The bottom line, at least for us, is peace of mind. If we should need to go into an assisted living or Nursing home we will be able to choose the one we like and not have to consider cost. As for Medicaid paying although that's true I believe you can only have $2000 in assets and a monthly allowance of $30 per month from your SS, a friend of my wife's whose Father is in a Nursing home in Illinois gave us those figures.

[retiredguy123]

Originally Posted by ukbill70

My wife and I have had LTC insurance for 12 years now, The premiums have never gone up and I hope we never have to use it. The bottom line, at least for us, is peace of mind. If we should need to go into an assisted living or Nursing home we will be able to choose the one we like and not have to consider cost. As for Medicaid paying although that's true I believe you can only have $2000 in assets and a monthly allowance of $30 per month from your SS, a friend of my wife's whose Father is in a Nursing home in Illinois gave us those figures.

If you want to prepare for the possibility of needing Medicaid, you can transfer assets to your children or someone else you trust at least 5 years prior to applying for Medicaid. Then, they can use the assets to supplement your income while you are on Medicaid and in a nursing home. Assets transferred within 5 years of applying may make you ineligible for Medicaid. Most people living long term in nursing homes are on Medicaid.

[Chi-Town]

Originally Posted by retiredguy123

If you want to prepare for the possibility of needing Medicaid, you can transfer assets to your children or someone else you trust at least 5 years prior to applying for Medicaid. Then, they can use the assets to supplement your income while you are on Medicaid and in a nursing home. Assets transferred within 5 years of applying may make you ineligible for Medicaid. Most people living long term in nursing homes are on Medicaid.

Children pauperize their parents to enable them to qualify for Medicaid, right or wrong.

Sent from my SM-N910V using Tapatalk