Medicaid and Long Term Care Plans

Since the federal government imposed state Medicaid funding cutback, individuals who have been receiving care in nursing homes via Medicaid have been moved back to their homes or to community-based long term care (LTC) facilities in order to preserve whatever is left in the Medicaid coffers.

So, if Medicaid is in your list of long term care plans you’ll be doing yourself a big favor if you would cross it out. What’s the point in settling for free LTC coverage if it doesn’t meet your exact health care requirements?

If you’re in your 40s or 50s, it’s worth looking at long term care insurance for you can definitely clinch a policy with excellent coverage and low annual premium. If you wait till you’re over 65 before buying, your health might be in the state of deterioration by the time and you won’t get any insurance company’s approval anymore.

Your age and health will determine the price of your policy that is why LTCI specialists keep reminding everybody to secure an LTCI policy while he is young and healthy.

Do you prefer to pay $3,500 annually or $680 annually? If you want the latter, straighten out your long term care plans early.