Hours 6

AL-Long-Term Care and Elder Care

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With the advent of the baby boom generation and the cost of health care services on the rise, the issue of long-term care is of major importance to both citizens and policy makers. While some individuals will be able to rely on friends and family to assist them in the event they need extended care and help with the activities of daily living, many others do not or will not have such a support system. These individuals must determine how they will meet the potential need for long-term care and how they will fund costly and extended home health services, assisted living, or a potential stay in a nursing facility. They may also need the assistance of a professional elder care service provider. Often, the agent is consulted in these matters and must have a working knowledge of community services in order to service the claim.

Lessons

AL-Long-Term Care and Elder Care – Chapter 4

Improvements in the Delivery of Long-Term Care Services and Providers Historically, there has always been a need for health care specific to the elderly and other vulnerable populations. In tenth…

AL-Long-Term Care and Elder Care – Chapter 5

Public Financing for Long-Term Care Estimations of present and future costs of long-term care vary. Regardless of the assumptions, only a limited number of sources exist to fund this care.…

AL-Long-Term Care and Elder Care – Chapter 6

Medicaid’s Financial Requirements Eligibility for payment by Medicaid for long-term care requires that a recipient have a low income and very few assets. In most states, LTC Medicaid recipients are…

AL-Long-Term Care and Elder Care – Chapter 7

Private Funding for Long-Term Care In the last unit, we examined the major sources of public funding for long-term care. The most significant government programs—Medicare and Medicaid—are, at best, very…

AL-Long-Term Care and Elder Care – Chapter 8

Individual and Group Policies In the long-term care market, coverage is available on both an individual and group basis. Though individual policies dominate, some employers offer this coverage to their…

AL-Long-Term Care and Elder Care – Chapter 10

The Basics of a Partnership Program The basic concept behind an LTC partnership program is easy to understand. A partnership program joins a state’s Medicaid program with ownership of private…

AL-Long-Term Care and Elder Care – Chapter 11

Requirements for LTC Partnership Policies Federal law authorizes state insurance commissioners, upon implementing a qualified state long-term care insurance partnership program, to certify that its associated policies meet certain standards…

AL-Long-Term Care and Elder Care – Chapter 12

Minimum Standards for Group LTC Insurance Policies Though individual policies dominate the LTC market, coverage is also available on a group basis. Group policies may be partnership-qualifying. With group policies,…

AL-Long-Term Care and Elder Care – Chapter 13

Long-Term Care Ethics The concept of ethics and ethical sales practices applies to any insurance product, but it is especially important when the issue is long-term care. Ethical practices can…