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Policy Features: What is Hospice Care?

Hospice is derived from Latin and means “to host a guest”.

Hospice is compassionate and skillful end of life care by an interdisciplinary group of dedicated caregivers who build a community around the patient and their family. This is accomplished with a comprehensive, medically directed, team oriented program that treats and comforts terminally ill patients in their home or other settings. Goals include pain management and symptom control, while recognizing that psychological, social and spiritual pain, are every bit as significant as physical pain.

Don, Deb’s step-dad, at Village House Hospice with a therapy dog

Don, Deb’s step-dad, at Village House Hospice with a therapy dog

 

“My step-dad, Don, lived in a hospice setting from the day of my mother’s funeral and stayed there for 7 months. His doctor made the decision to no longer take curative actions but to allow Don to have a dignified, peaceful, and pain-free life through his final days. What is remarkable is that he actually got better for a time and indeed lived those 7 months to the fullest…and yes, his long term care policy paid for the care!” *      

             ~ Deb Newman, Founder & President, Newman Long Term Care

 

 

*Policy language can vary by carrier. Contact us to help you determine a policy’s hospice benefit!

Policy Feature: What is Care Coordination?

Help in developing a plan of care and finding the appropriate resources

When someone needs long term care, it’s easy to get overwhelmed with all of the available care options. Depending on the plan of care, services can be received at home, in the community, in an assisted living facility or in a nursing home. Care coordination is a service in which a licensed health care professional may arrange, monitor or coordinate needed services. Care coordination benefits are included in most policies, and usually do not reduce the maximum benefit available under your insurance plan*.

A story from Deb Newman:

“A son told us this was one of the most valuable benefits when his mom needed care. He was the adult child that lived nearest to her, yet his sisters wanted to manage all of the decisions. He said, “the Care Coordinator acted as a ‘go between’ and was an objective third party who helped us agree on what was best for our Mom and our family. It was really a blessing to help us stay cohesive as a family.”

*Policy language can vary by carrier. Contact us to help you determine a policy’s care coordination benefit!

 

FAQ: What is the best age to buy long term care insurance?

There is no perfect age for buying insurance. That being said, long term care insurance premiums are based on health and age. The younger and healthier you are, the lower your premiums. Waiting too long to buy could result in a health issue that would make you uninsurable. We suggest that people look into coverage at whatever age they begin to seriously begin planning for their retirement, as an LTC plan should be part of your retirement plan.

FAQ: Can’t I self insure this risk?

The reality is that unless you have insurance, you are already self-insuring this risk by default. Self-insuring takes great discipline to set aside (and not touch) funds meant to cover a long term care event. Insurance provides a more cost-effective way to pay for care than relying on personal savings. A recent study found that to pay for the same amount of services covered by insurance costing $188 a month, a 60 year old would have to put aside $1,666 a month over 22 years!

FAQ: Isn’t this just nursing home insurance?

Long term care can be received in a variety of settings, including home care, assisted living, nursing home, adult day care and hospice care.  In fact, today most people choose to receive care in the comfort of their own home.  Home care currently accounts for 51% of all long term care insurance claims, and assisted living counts for another 18.5%. Having insurance can help you retain control and choice in where you receive care.

Have a question about Longterm Care Insurance? Ask Deb!