BABY-BOOMERS NOW LOOKING AT LONG-TERM CARE
“As all of the baby boomers grow older, they are becoming increasingly aware of the need for Long-Term Care,” states Frank N. Darras, the California bad faith lawyer and expert.
“Skilled, intermediate and custodial care should be terms you become very familiar with if you are in the market for LTC insurance,” says Darras.
Darras defines these terms:
Skilled Care is an around the clock offering that’s prescribed by an M.D. and administered by a registered nurse.
Intermediate Care is administered by medical personnel. However, it is not a 24-hour service. This type of care is only periodically given by a nurse or a rehab technician.
Custodial Care refers to activities of daily living (ADLs); for example: bathing, eating, dressing transferring and grooming. This service does not have to be performed by medical personnel and is usually given in some sort of assisted living facility or by someone at home.
“Make sure the policy covers all three of these services for professionals as well as friends and family,” Darras states. “These policies will give you more for your money than other more restrictive offerings.”
A couple of other terms you need to educate yourself about are indemnity and reimbursement basis. This is how long term care benefits are paid to policyholders. Indemnity refers to the daily or monthly benefit you chose when you purchased you’re policy. Reimbursement is paid on the actual charges incurred and has nothing to do with a maximum daily or monthly benefit. If all benefits are not used, they are carried over to the next period.
“Make sure the insurance carrier you select meets all you’re criteria: financially sound, offers the benefits you need, is committed to LTC insurance, and has a benefit payment method that suits your particular financial needs,” advises Darras.
“Ask for advice, if you have questions, before you sink your hard-earned money into a policy. Your diligence came make the difference in your family’s financial security. Bottom line, do your homework and get top insurance advice from an insurance bad faith attorney before you choose,” says Darras.
Tags: Bad Faith Claims Handling, Bad Faith Damages, Bad Faith Health Insurance
Bad Faith Claims Handling Bad Faith Damages Bad Faith Health Insurance
