Why should I buy long-term care insurance? This is probably one of the issues bickered by most adults as they approach their mid 40s or 50s. Most people are uncertain of buying long-term care insurance; they would rather invest on car and real estate than on costly LTC premiums. Long-term care insurance can be expensive, but it is the best investment you’ll need to continue a dignified life as you age.
Buying long-term care secures your independence and dignity. Some people choose to spend all their assets on care,Why Should I Bother Buying Long-Term Care Insurance? Articles while others opt to put their money in trust. If you have zero assets, you will qualify for Medicaid coverage. You may take it seriously as luck, but sooner or later you’ll realize the misfortune of not saving for your long-term care. Medicaid pays for semi-private nursing home, but not all nursing homes admit Medicaid patients. Medicaid beneficiaries had taken a long qualification process before they received coverage for long term care. Qualifying for Medicaid coverage does not happen overnight, since most states have stringent rules for qualifying for Medicaid. Unfortunately, the majority of elders wish to receive care in their homes as much possible, but Medicaid cannot grant that wish. . Medicaid patients are forced to stay in nursing homes although they feel a bit unease of staying in a facility, where they are bathed or diapered together with other adults their age. With secured long-term care insurance, you won’t suffer the stress of taking few trips to your state’s Medicaid office or, worse, lose your assets to qualify for Medicaid program. Also, your insurance can help you decide on the type of facility should you wish to have. You’re not obliged to stay in Medicaid nursing homes and spend your entire life there; you have the option of getting care in the comfort of your home with less worry.