Long- Term Care Insurance
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Medical and private health insurance do not usually cover nursing home services or extended periods of home health care. (However, if the need is related to an acute medical problem, short- term services may be covered).
Long term care insurance is designed to protect families from the high costs of custodial care. When shopping for a policy of this kind, look for:
Allowance of benefits without requiring a prior hospital stay.
Benefits for in- home care.
Guaranteed lifetime renewability.
Comprehensive covarage for all levels of long- term care.
Specific coverage for Parkinson’s disease, Alzheimer’s disease, and any other illness involving dementia.
A waiver of premiums while receiving benefits in a long- term care facility.
No waiting period for coverage of preexisting conditions.
If you are interested in buying such insurance but don’t know where to start searching for an insurance company that offers such things, ask your doctor for referrals.