Home Health Care Insurance
Not to be confused with short-term health insurance, short-term care insurance is protection for your income and savings if you become ill or are injured to the point of needing someone to care for you over a short period—generally about one year—either at home or in a care facility.
This type of care can be expensive and drain a family’s financial reserves very quickly when you consider a health aide or personal care assistant can charge upwards of $20 per hour—and a nursing home can cost more than $6,800 per month.
Learn more about short-term care insurance and how it can save your family money while ensuring you have the care you need.
What Does Home Health Care Insurance Cover?
Short-term care insurance provides assistance if you need services typically offered in a care facility. Also called recovery care, short-term care isn’t only for older people who might have trouble with daily activities like eating, getting dressed, or getting out of bed. You may have been in an accident or had surgery and are at home recovering and need help.
Short-term care insurance covers the costs of paying for assistance with the activities of daily living, which can be very high. The assistance is usually provided by a nurse or skilled practitioner trained in the specific care needed.
Short-term care insurance pays for up to 360 days of care, after which it transitions to long-term care.
How To Get Short-Term Care Insurance
Unlike healthcare insurance, you can’t find short-term care insurance on the healthcare marketplace. It is possible that your employer’s health plan or your individual plan includes it, but if it doesn’t, you should consider purchasing it from an insurance agent. Even if your employer’s plan includes short-term care, it is worth considering buying a policy to help you cover any costs your health care plan may not cover.
Some conditions must be met to qualify for short-term care coverage. Depending on the policy, you’ll need to be between 40 and 89 years old to apply. You might also be asked to provide the policy issuer with a certification from your doctor stating that you cannot perform a specific amount of the activities of daily living.
I am an agent that provide access to short-term care insurance. I can help you to shop around and find the one with the most coverage and the most affordable prices.
Short-Term Care Insurance Costs
How much you will pay for short-term care depends on your health and where you live. However, average costs vary on your age, health, and location. In Illinois, the costs and benefits for short-term care insurance for a 65-year-old (home care only) are:
- Premium: $63 per month
- Benefit: $1,050 per week for 52 weeks
For a 75-year-old (home care only), costs are:
- Premium: $135 per month
- Benefit: $1,050 per week for 52 weeks
For home care and nursing home, a 65-year-old:
- Premium: $125 per month
- Benefit: $200 per day for 365 days with a 100-day elimination period
For home care and nursing home, a 75-year-old:
- Premium: $280 per month
Benefit: $200 per day for 365 days with a 100-day elimination period
Do I Need Short-Term Care Insurance?
You might need short-term care insurance if you cannot otherwise afford home care or one year or less in an assisted living facility or nursing home. You may also want to consider purchasing short-term care insurance if you feel you are reaching a point in life where you might need some assistance.
Many people purchase short-term care insurance because they do not qualify for a long-term care policy or want a less expensive option. Additionally, if you wait too long to buy long-term care, it can become much more expensive because rates increase the longer you wait.
Lastly, short-term care might be a more affordable and appealing option for you if you only want home care coverage instead of home and nursing facility coverage.
Get In Touch to Learn More About Your Insurance Options
As a licensed independent health insurance agent, I have helped many people in various stages of life with their short-term care policies. I am licensed in 47 states and can help you find the best short-term care policy that fits your budget and needs. I live in Waipahu, Hawaii, and I will help anyone who needs assistance obtaining short-term care insurance. You don’t have to navigate the confusing waters of insurance alone—I can help you get started. I offer local help in Hawaii and can provide assistance over the phone and over the internet. If you have questions about short-term care or any other type of insurance, contact me today!