If you’re a senior citizen or have a loved one who’s a senior citizen, you know how important having health insurance is. Seniors deserve exceptional healthcare without breaking the bank. Fortunately, I can help you here at Senior Insurance Solutions. As a licensed Medicare agent, I can assist you or your loved ones in finding the best long-term care insurance options for senior citizens. Let me explain your options and how you can choose what will fit your needs best.
What Is Long-Term Care Insurance?
Long-Term Care Insurance isn’t the same as regular healthcare. This type of insurance covers the long-term needs of seniors and those with disabilities. It includes care, whether it’s at your home or a nursing facility. If you need assistance with daily tasks, like eating, bathing, etc., you may wonder how much long-term care insurance will cost.
How Much Is Long-Term Care Insurance?
According to the American Association for Long-Term Care Insurance, a traditional policy valued at $165,000 in benefits can cost $950 annually for a 55-year-old male and $1,500 for a 55-year-old woman. The price tag will change from a nursing home to an assisted care facility, adult day care, or home health aid services. Nursing homes come with the highest costs.
Long-Term Care Insurance Premiums
Insurance companies will determine your premium based on various factors, including:
- Age – The older you are, the higher your premium will be.
- Gender – Premiums for women are generally higher because they tend to live longer.
- Health – The conditions you have can determine your rate.
- Coverage – Are you looking for a nurse to assist you at home? Or would you prefer to move into a nursing home? The services you want play a role in what your premium will be.
These are just some of the factors that insurance companies take into consideration.
Picking an Insurance Plan
Choosing the right long-term care insurance plan is essential. Here are some steps you can take to make the best decision:
- Establish your budget – Know how much you want to spend monthly on your long-term care.
- Don’t rush to pick an insurance company – Make sure you choose a company you can trust. Read their ratings and confirm they’re licensed.
- Ask questions – Don’t be afraid to ask as many questions as possible before signing on the dotted line.
- Compare policies – Compare several different policies across different companies. In addition to comparing costs, see what each plan covers and if they’d satisfy your unique needs.
Get Expert Insurance Advice With Senior Insurance Solutions
Navigating the complexities of long-term care insurance options for senior citizens can be intimidating. Fortunately, you don’t have to do it alone. I’m AdriAnn Bossie, and I love helping senior citizens and their families find the best coverage options to meet their needs. I’ll review everything with you, answer your questions, and assist you in applying for the right plan — whether through Medicaid or a private insurance company.
Are you ready to learn more about long-term care insurance options for senior citizens and how Senior Insurance Solutions can help you pick the perfect plan? If so, contact me today. It won’t cost you a penny to work with me, so you have nothing to lose and only an exceptional insurance policy to gain.
