Long-term care insurance is less common than life or homeowners' insurance, and the need for it and how it works is less commonly understood. Going over the history of long-term care insurance might help with this assessment of dementia coverage.
It's important to consider that long-term care insurance for dementia patients is a must to sort out during the early stages of the disease. Read on to assess further the need for long-term care insurance for those in your life who have dementia.
Does Long Term Care Insurance Cover Dementia?
Long-term care insurance provides coverage to those with loved ones suffering from dementia. It can also cover a variety of situations. However, it's crucial to know that not all insurance policies cover all types of dementia care.
Long-term care insurance typically covers:
- Care at home
- Assisted living facilities
- Daycare for adults
- Relief care
- Hospice treatment
- Nursing homes and skilled nursing facilities
- Care for Alzheimer's disease or dementia
Long-term care insurance can cover the following if home care coverage is purchased:
- Caregivers at home
- Private duty nurse
Medicare does not cover long-term care costs for dementia. However, it's important to note that short stays in skilled nursing facilities, hospice care, or home health care can be covered by Medicare if three conditions are met:
- You were in the hospital for three days or longer.
- A skilled nursing facility that is Medicare-certified admitted you within 30 days after your hospital stay.
- Your doctor has prescribed skilled nursing, physical therapy, or other therapeutic services for you.
If all of these requirements are met, Medicare will cover a portion of the expenditures for the first 100 days in a skilled nursing facility. You are fully responsible for those fees after 100 days.
Advanced Planning Is Key
Although it does cover care planning with a medical expert, long-term care is not covered by Medicare. Individuals newly diagnosed with cognitive impairment, such as Alzheimer's disease and other dementias, and their carers can learn about medical and non-medical treatments, clinical trials, and community resources with this coverage.
Individuals and their caregivers can use care planning to gain access to information and support to improve their quality of life and help them prepare for the future. Advanced preparation allows you to make decisions based on your financial status and available possibilities.
Read through our resources at Senior Strong to further understand what long-term care insurance for dementia has to offer and other dementia care facilities available to consider.
William Rivers is an editor with a master’s degree in Human Services Counseling at Maine State University. He has more than 20 years of experience working in the senior healthcare industry.