888-765-5400LTC Premiums on the Rise – A Home Health Care Policy Could be the Answer
The NC health insurance market is changing, causing consumers to look for new ways to make sure their health care needs are met at a price they can afford. For instance, there has been a marked decrease in the public’s interest in long-term care insurance over the last few years and there are many reasons for the decline. Due to more and also more expensive claims, as well as the waning economy over the last few years and the impact that has had on insurance companies, the premiums for long-term care policies have spiked, making them unaffordable for many consumers. In fact, according to the American Association for Long-Term Care Insurance the average cost of LTC insurance premiums can be as high as $3500 annually and for people living on a fixed income, that becomes difficult, if not impossible, to afford.
For this reason, only about 8 million Americans have long-term care insurance, despite the fact that there are around 45 million Americans who are age 65 and older. Because people are living well into their 80’s and 90’s, the possibility of needing a long-term care policy is greatly increasing; however, affordability has become a huge problem. Many people are looking for other options.
One inexpensive alternative to long-term care is a Home Health Care policy. Issued by Standard Life, a Home Health Care policy pays benefits for at home care up to $300 daily, plus a prescription drug benefit, with premiums starting as low as $12.15 a month. Although not designed to completely replace a Long-Term Care policy, Home Health Care policies are a viable option for people who simply cannot afford LTC insurance. The benefits of a Home Health Care policy allow you the freedom to recover at home and can help you afford certain necessities that come with convalescence. The benefits are paid directly to you and in addition to any other health insurance you may have.
As we age, it becomes increasingly important to make sure we are covered in case of an unexpected accident or chronic illness. If you or a loved one has ever required at home care for physical therapy, chemotherapy or other medical services, you know that having the resources you need to recuperate in the comfort of your own home is priceless. A Home Health Care policy is an inexpensive alternative to traditional long-term care insurance and may be just the solution you are looking for.
For more information on North Carolina insurance coverage, please visit our website at www.nchealthplans.com or call our toll free number 888-765-5400 and speak with one of our experienced and professional agents.