Long term Care Insurance

wilkins57

I’m looking for info on long term care insurance. Will I be able to purchase it for my husband if he has been diagnosed with dementia? How much does Medicare cover for in home assistance? How much does it cover if he needs to be in a memory care facility at some point? Is this kind of insurance worth the expense? Thanks for any advice you can provide!

towhee

I am sorry, but you cannot get long term care insurance when you have a diagnosis of dementia.

Medicare covers very little when it comes to in home care assistance, and that is usually very short term after a hospitalization. Medicare does not cover any type of facility stay with the exception of short term rehab in a skilled nursing facility. The program that does cover care assistance and facilities is Medicaid, and to qualify for that you need to be under certain income and asset levels. Each state has different requirements. You can get a general picture of Medicaid for your state by looking at Medicaidplanningassistance.org It is generally recommended that you consult an elder care lawyer to make sure you do not do something that would make your LO ineligible for Medicaid.

If you are thinking about long term care insurance for yourself whether it is worth it depends on your health and financial situation. The older you are the more expensive it is, and the premiums will go up at some point as you get older.

wilkins57

https://alzconnected.org/discussion/comment/265140#Comment_265140

Thanks for this information. I’m hoping to care for him at home for the majority if not the entirety of his illness. We would not be eligible for Medicaid. I was hoping that at least some at home respite care would be covered by Medicare; this is quite disappointing. My husband was diagnosed this summer so we are still learning. His neuropsychologist suggested a neurologist may be able to prescribe infusion medication that some have found helpful in delaying progression. Are these generally covered by Medicare drug prescription plans? Any info on this would be appreciated. Thank you

towhee

There is a relatively new Medicare program called Guide. It can provide up to 75 hours of respite care a year, and is starting to be available in more areas. I do not know much about it, use the search box here to find discussions on it.

I think the infusions are generally covered, there are several discussions on benefit vs risk.

persevere

Here's a couple of other pieces of info. If/when your husband qualifies for hospice that is covered 100% by medicare. Also there are medicade trusts that can be formed. You'd have to get a lawyer that specializes in these.

wilkins57

https://alzconnected.org/discussion/comment/265304#Comment_265304

Thank you! I’ll do some research on that! We don’t need that right now, but will likely be helpful in the future.