Long-Term Care Insurance and Senior Home Care - A Guide for Minnesota Families

The baby boomer generation is aging which means the number of seniors looking for options to maintain their independence and remain in their home is growing rapidly. Many families in the Chaska, MN community are looking to consider long-term care insurance (LTCI) as an option to help cover home care costs. This article attempts to simplify the relationship between home care services and long-term care insurance as well as look at the ways Visiting Angels is available to collaborate with LTCI to provide the care your aging loved one needs. 

What is Long-Term Care Insurance?

Long-term care insurance can provide coverage for services such as in-home care to help aging seniors with daily living activities as they age. The coverage ensures access to care assistance when health insurance or Medicare are either not accepted by the home care agency or do not offer coverage for in-home assistance. 

LTCI policies will often cover non-medical services, such as assistance with bathing, dressing, meal preparation, and mobility support. It often includes coverage for both in-home care and care provided in senior living facilities like nursing homes or assisted living.

Does Long-Term Care Insurance Cover Home Care?

Yes, most long-term care insurance policies cover home care services, provided specific conditions are met. These policies are great because it allows seniors to receive the support they need while continuing to live in the comfort of their own home. The level of coverage varies greatly depending on the policy, so understanding the specific benefits, limitations and requirements is important. 

At Visiting Angels, we work with long-term care insurance providers to make the process as easy as possible for you. Our in-home care services range from companionship and personal care to overnight or even 24/7 care, all of which can often be covered by most LTCI policies.

Key Factors to Consider When Using LTCI for Home Care

Before you start to put your long-term care insurance in place, there are a few important things to keep in mind:

Eligibility Requirements

Most long-term care insurance policies have specific eligibility criteria that must be met before coverage kicks in. Typically, an individual must need help with at least two or more activities of daily living (ADLs), such as bathing, dressing, or eating, to qualify for benefits.

It’s also common for policies to require a certification or official form from a physician to confirm that the need for care is genuine and ongoing.

Waiting Periods

Many policies include an "elimination period," which is a waiting period before benefits begin to be paid out. This period can range from 30 to 90 days, during which you will be responsible for covering the cost of care out of pocket.

Being aware of this timeframe is crucial for financial planning, as care needs may arise suddenly, and you want to be prepared for potential gaps in coverage.

Benefit Limits

Your policy might have daily or lifetime limits on benefits. It’s important to review your policy carefully to understand how much is covered each day and whether there is a cap on total benefits allowed. This will help you plan your care schedule to avoid exceeding these limits too quickly.

Visiting Angels will work with you and your insurance company to put together a care plan that maximizes the benefits of your LTCI policy while ensuring the best possible care.

Steps to Use Your LTCI for Home Care with Visiting Angels

If you have a long-term care insurance policy and would like to look into using it for home care services in the Minneapolis metro area, here’s how to get started:

• Review Your Policy: Carefully review your long-term care insurance policy. Pay close attention to the details, including when you become eligible for benefits, any waiting periods you may have before coverage will start, and the amount of coverage you will receive. If you have questions about any of this information, reach out to your insurance company or a financial advisor for help. 
• Gather Required Documents: Your insurance company will ask for documentation showing that the person seeking care qualifies based on your policy. This could include medical evaluations, doctors' notes, or comprehensive care plans.
• Choose a Qualified Provider: Long-term care insurance policies often require that services be provided by a licensed agency. Visiting Angels meets these requirements, which ensures that you can receive care from professional caregivers who are skilled, compassionate, and experienced.
• Submit Claims: Once services begin, you’ll need to submit claims to your insurance provider for reimbursement. The Visiting Angels support team can assist you with this process by providing the necessary documentation and guidance.
• Regular Review: As care needs change, it’s important to continue looking over your insurance policy and care plan. Adjustments may be necessary to be sure you’re maximizing your benefits and getting the appropriate level of care.

The Benefits of Using Long-Term Care Insurance for Home Care

One of the biggest advantages of LTCI is that it gives seniors the option to age in place. Home care provides a personalized and familiar environment when compared to facility-based care, allowing seniors to maintain their sense of independence and still receive the support they need.

When you choose to work with Visiting Angels, you will have a support team that guarantees flexible care options personalized to your loved one's unique needs. Regardless of what type of care your loved one needs, whether it's part-time assistance or 24/7 care, we are dedicated to providing the highest quality service.

Activating your long-term care insurance for home care can help relieve the financial stress. Without LTCI, the cost of long-term care can add up quickly, which can make it hard for families to have access to continuous care. 

Plan Ahead for Peace of Mind

Seniors and their families looking to plan for the future should understand how long-term care insurance can help cover the costs of care, whether it be in-home care or at a senior community. It's never too early to consider what care options you will want to pursue as your loved ones age. The Visiting Angels team is here to provide assistance in navigating the challenges and intricacies of long-term care policies to ensure your loved one receives the care they deserve. If you are ready to learn more about our services and how long-term care insurance can help you cover the cost, reach out to us today. We’ll walk you through the process.