Long Term Care Insurance Policies
Long term care insurance (LTCI) policies are a little different than other types of health insurance. Health insurance usually covers medical services in case a covered person is sick or injured. LTCI, on the other hand, helps provide nursing care in case a person cannot perform the “activities of daily living” or other qualifications, as specified in a particular policy.
LTCI is meant to provide nursing care. That could be in a nursing home, assisted living facility, or home health care. Some even help with the costs of care that are provided by a family member. You need to look at the specific policy that you are considering to see what it covers. Some may only cover nursing homes, for example, while others allow more flexibility in determining how that care will be taken. You could learn more about the need for long term care insurance.
Tax Qualified vs Non-Tax Qualifed LTCI
If you are shopping for LTCI, you probably want to be aware that some long term care insurance policies are tax qualified. That means that the premiums could be deducted from your federal (and possibly state) income reporting when you prepare tax returns. [...]
Plan for Retirement Dental and Vision Care
The US Medicare health insurance system provides basic health benefits for most American seniors, and also for disabled people. While this health insurance helps seniors afford health care, it provides few benefits for vision and dental care. Some seniors may have dental benefits through a Medicare Advantage plan, while others could be covered through job retirement benefits. But many have no coverage. For more information, refer to: Does Medicare cover Dental and Vision?
Planning For Retiremennt Dental and Vision Costs
But of course, proper care of teeth and eyes is very important for the long term health and happiness of older people. If you have been to a dentist or eye doctor lately, you also know that it can get expensive.
Dental Insurance – I have seen some plans that are even specifically marketed to seniors. In return for a premium, people can buy private dental insurance. Keep in mind that not everything may be covered, and there will still be out of pocket expenses like copays and deductibles. In addition, many dental insurance policies specify a yearly maxium that they will pay out. Before purchasing a plan, make sure you understand how it works.
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