For some people—many of which are seniors—the daily tasks that most of us take for granted are impossible without help. These individuals can no longer safely live at home on their own without assistance. While in-home care is available, the cost is often more than most families can afford.
Long-term care insurance can cover these costs. Making a plan that includes this type of coverage can be life-changing for the beneficiary as well as their family. Let a dedicated attorney advise you on long term care benefits in Virginia Beach.
What is Covered?
Long-term care policies are comprehensive. They generally allow a person to spend their daily benefits on a variety of needs. The purpose of these benefits is to assist with a person’s daily needs, including bathing, preparing food, or other personal care issues.
In addition to assistance with personal care, a beneficiary could receive help from a nurse for their medical needs. This includes anything from monitoring conditions to assisting with medication. Often, these benefits provide the bulk of a person’s medical attention.
In some cases, the benefits can be used for forms of therapy. This could include helping a patient rehab an injury, receive occupational therapy, or even work with a speech therapist to regain the ability to speak.
Benefits can cover costs associated with remaining in the beneficiary’s private residence. They can also cover expenses at adult day care centers or residential care facilities. Even hospice care could be covered.
These costs can be extensive, especially for individuals who require care for many years. While long-term care policies make a major difference in affordability, many families need to make a plan to cover the cost of that insurance coverage. An attorney in Virginia Beach can assist with an estate plan that takes into account all of a person’s needs, including their long-term care.
Do These Policies Cover Everything?
Most of the time, long-term care insurance policies are comprehensive. That means they take care of every aspect of the beneficiary’s needs, from in-home care to the cost of an assisted living facility. There are some limitations to be aware of, but the law broadly protects consumers who purchase these policies.
For example, insurance companies cannot exclude coverage applicants based on certain medical issues. The law prohibits exclusions or policy limits based on conditions like dementia, Alzheimer’s disease, or similar diagnoses. The law does allow exclusions based on pre-existing conditions, however. A condition is considered pre-existing if the diagnosis was made before the insurance coverage was purchased.
There is also a waiting period to be aware of. If a Virginia Beach beneficiary is diagnosed with a condition during the waiting period, benefits related to that medical issue and its long-term care will not be covered. The law limits this period of time to six months following the issuance of the policy.
Talk to an Attorney in Virginia Beach About Long-Term Care Benefits
A lot of stress and worry often goes into determining how best to provide for a disabled loved one’s day-to-day needs. While insurance benefits can make a tremendous difference, it is often necessary to make a plan for how to pay for these policies in the future.
If you are considering long-term care benefits in Virginia Beach, an attorney can guide you. Reach out today to learn more from the attorneys at Parks Zeigler, PLLC.
