It is not something anyone wants to imagine that they will one day be an invalid, or need assistance dressing or bathing or preparing or eating their food. However, according to the U.S. Census Bureau statistics about half of Nevada’s 65-year-old residents will need long term care. It is therefore important to start looking for the best long-term care insurance rates in Nevada right away.
A wide range of long-term care options are available. These include 24-hour care in a private nursing facility, as well as having a personal health care worker visit your home once a week to assist with shopping and cleaning. You may need long term care for many years or for a shorter time, such as after an accident.
Don’t trust Medicare for your long-term health care. There are virtually no long-term health care provisions in Medicare. Although there are some long-term health care provisions in Nevada’s Medicaid program, they can be difficult to access and expensive to pay for. What is certain is that you must not be able to make any decisions or control over your care.
Your only real solution is to purchase your own long-term health insurance. Although such insurance is expensive, there are ways to keep your monthly premiums affordable.
Get your long-term care insurance policy as soon as possible. Your premiums will drop the younger you are, even if you’re as young as 40.
It’s time to stop smoking. Non-smokers pay more premiums than smokers.
If you’re overweight, this should be your reason to lose weight. A weight-management program can help lower your premiums. And losing weight can make a big difference.
You can decide what dollar limit you would like on your coverage. Some policies have a lifetime limit on the amount of benefits that they will pay, while others may have weekly, monthly, or annual caps. The total value of the insurance you have on your line will affect how much your premiums are adjusted.
The Elimination Period is a clause in long-term care insurance policies. This is insurance-speak for your policy’s deductible. Your monthly premium can be adjusted depending on how much you’re willing to spend on long-term care yourself before the insurance company pays anything. Your premium will drop if you spend more than you can afford (longer Elimination Period).
Also, keep in mind that your policy benefits won’t be used for a while so it might be a good idea to get a policy that has an inflation adjustor built in. This will ensure that your benefits are still in line with current care prices when you need them.
Finally, you can go online and compare long-term care prices and packages with different insurance companies until you find the best long-term care insurance rates in Nevada.