Most people who purchased LTC insurance hoped they would never need to use it, just like their car insurance, but the time does come for many of us. That is when we are reminded about the elimination period that we chose way back when we purchased it. Call it a deductible if you will, it is the number of days (typically around 3 months) that you must pay for your care out of pocket before the insurance starts covering those bills.
3 months of paying out of pocket can be far more expensive now that it was way back when you purchased this coverage. However, the insurance company does not care how expensive, or inexpensive those days are. This can work towards your advantage, saving you thousands of dollars.
Quite often, the need for care starts with a spouse or other loved one helping you. It may start out with checking in once a day and progress to assistance every day. Only when the burden becomes too great do most people consider contacting their LTC insurance company when they need to move to a facility or need significant help at home.
Once the care is needed, even in small, intermittent amounts, consider contacting the insurance company and filing a claim. Even if family can do it alone, you could bring in a home care helper for the shortest, least expensive visit available. This can help you get through your (xx) day deductible at perhaps $35/day. That is much less expensive than waiting until you move to a LTC facility where the daily charge is much higher and paying it for (xx) days.
For help and advice on this or any other question concerning your LTC insurance or LTC in general, no matter when or from whom purchased, call us, www.TheLongTermCareGuy.com at (920) 884-3030 and let us help you.