LTC and Living at Home

I'm a complete noob in this area but recently I came across something that got me thinking. Does any LTC coverage include the elderly living with or near a caregiver?

Does that caregiver have to be licensed or can they simply become certified via Medicare?

What happens if they live independently but are in a "smart" home (meaning alarms to remind them to take meds, camera's, etc)?

Thanks for your input. :idea:
 
Originally posted by TampaHound

I'm a complete noob in this area but recently I came across something that got me thinking. Does any LTC coverage include the elderly living with or near a caregiver?

Does that caregiver have to be licensed or can they simply become certified via Medicare?

What happens if they live independently but are in a "smart" home (meaning alarms to remind them to take meds, camera's, etc)?

Thanks for your input.

LTC coverage will only pay for services if the policyholder requires assistance with either 2 of 6 Activities of Daily Living or requires assistance due to any severe cognitive impairment. That can be in a nursing home, assisted living facility or at the policyholder's own home.

Each policy is different and most require the home care provider to be licensed and/or certified. Some policies offer a partial "cash-benefit" that allows for a non-licensed or informal caregiver.

Chances are that if someone is living independently, they won't qualify for care.
 
Depending on the situation, that could possibly fall under an alternate plan of care benefit. Also, if you look at a chronic illness rider on a life contract, they are cash. I realize the trigger is slightly different than traditional LTC, but today we need to look outside the box at solutions.
 
Going to depend on the contract. Many allow for HHC and even family member providing care riders.

So the answer to your question is YES, NO and MAYBE...

Depends entirely on what you buy. Many of the things you're asking about I can either zero out or put a percentage of normal payout (compared to nursing home payout) with the quoting software I use. So it depends on what the insured wants and is willing to pay for.

LTC is like buying a car and choosing your options which effects the final price.
 
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