“A common and understandable misconception by younger working adults is that they are healthy today and will continue to be tomorrow. They will work and build up their savings so that they may retire well and continue to care for themselves in the future. Unfortunately, this isn’t always true. The fact is that 40% of all long-term health care benefits are provided to people who are between the ages of 18 and 64,” said Reilly O’Neal, founder and president of QuoteRetriever.com.
Long-term health care policies are typically available to anyone who is currently in good health. As with all insurance plans, each provider stipulates its own eligibility requirements. A knowledgeable company, such as QuoteRetriever.com, can help younger professionals compare long-term care plans from trusted providers that suit their background and potential future needs.
The long-term care policies are used by people who are no longer able to take care of their day to day functions, such as dressing or cooking on their own. Because long-term care coverage benefits are not standardized, the details of each policy vary from one insurance company and state to the next. Generally, however, the policies provide the insured with an allowance of money to cover their care expenses by the day or by the hour. For example, the insured may receive $20/hour to cover in-home care or $200/day to cover assisted living costs.
“It is scary for someone who is 34 to think of themselves in a position where they are no longer able to do the buttons on their shirt or visit the restroom whenever they need to, but it happens all too often. When these younger professionals are forced to leave the workforce, they find themselves unprepared to handle the costs associated with having someone come to their home to assist with their care or residing in an assisted living facility. Can you imagine what it would feel like to be dealing with all of the related emotional issues of this situation and then to also be worrying about how you will pay for your care? That’s why I always tell people that it’s simply better to be prepared now: even if you don’t use your coverage today, it can always be available to you as you approach the over-65 age group where the percentage of people who need this type of care increases even more dramatically. This means, little risk today and lots of peace of mind forever,” shares O’Neal.
Locating appropriate policies can be confusing, but with the new online comparison capabilities of QuoteRetriever.com and the team of licensed specialists who support the website, younger professionals can compare quotes and sign up for the best policy quickly. They simply complete a 5-minute questionnaire online at QuoteRetriever.com and an expert delivers their personalized quotes to their inbox within 24 hours.
Don’t wait until an emergency presents itself. Be prepared by visiting QuoteRetriever.com where you will learn more about long-term care coverage and find the best policy for yourself.
Kaiser Commission. “Medicaid and Long-term Care Services.” July2006: 1. The Henry J. Kaiser Family Foundation. Menlo Park, CA. 20 June 2008 < http://www.kff.org/
