Should I Depend on Medicare for Help on Long Term Care?
Many American residents depend on their long term care insurance policies to cover and compensate for the LTC services that they will receive in the coming years. Some also depends mainly on their Medicare policies but some of them do not really know if they can take the risk with their policies and still have questions such as “Will Medicare pay for long term care?” and “How can one easily avail and pay his LTC insurance policy?”
This has been one of the major concerns of those who have Medicare policies. They are hoping that their LTC needs will be covered by Medicare and that there are no more extra charges that they have to pay. Unfortunately, the coverage of Medicare for such services and costs is just limited.
One cannot fully depend on his Medicare plan simply because it does not guarantee that it can cover all of the services and facilities that an insured person has used during the duration of his benefit period. There is just a portion or certain percentage of the total costs that Medicare will cover. Aside from the allowed percentage, no more financial aid will be given to the policy owner.
Usually, LTC insurance plans purchased from private insurance companies cover most, if not all, of the services and facilities that the policy owner might need during his stay in a nursing home or adult day care facilities. It lessens the worries and inhibitions of the insured individuals regarding their health and welfare while they are getting their policy benefits.
Will Medicare pay for long term care? It depends. Medicare usually covers and pays certain and specific number of days that the insured individual has spent during his hospitalization. They are also strict when it comes to their requirements in order to be given reimbursements or payments.
A person has to be hospitalized for at least three days and three nights before he can claim his Medicare benefits. However, if the policy owner received services from those that are considered under custodial care, like what most nursing homes are, the stay and services are not covered.
Some of the services that Medicare covers include home health visits by medical workers who are assigned to supervise and monitor the condition of the policyholder. The sad part is, after 100 days of paying for the LTC services of the individual, Medicare will stop covering his needs. It is now up to the insured individual to handle or look for other possible ways of how he can pay and compensate the services and facilities that he will use.
Most people turn to Medicaid assistance once their Medicare policies expire. But a person must meet the standards and requirements set by Medicaid before he can be qualified and eligible for Medicaid benefits.
So to sum it up, will Medicare pay for long term care? Yes, but the coverage is just limited and have restrictions that are strictly implemented. An individual must still have other alternatives in case he still needs assistance in paying for his LTC needs
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