How New Hampshire Long-Term Care Insurance Works
A New Hampshire Long Term Care Insurance policy is designed to help you pay for the long-term care services you need by providing benefits to cover a portion of the cost. Whether it’s your family, your home or your retirement nest egg, a long-term care insurance policy may be the solution to keeping connections strong by providing benefits to help you pay for long-term care services. Long-term care insurance policies cover services provided in a variety of settings. Since many people prefer to get the care they need at home, most policies are designed to help you remain there for as long as possible.
New Hampshire Long Term Care Insurance Covered services include:
• Personal care services to assist you with everyday activities
• Homemaker services to help with grocery shopping, meal preparation and housekeeping
• Professional services of a registered nurse, home health aide or therapist Should you need more care, our policies also provide benefits for assisted living, nursing home and hospice care. Eligibility to Receive Benefits You’re eligible to receive policy benefits when a licensed health-care practitioner submits a plan of care that certifies you are chronically ill. That means you need help with at least two of the six activities of daily living for at least 90 consecutive days. These activities include bathing, dressing, eating, transferring, toileting and continence. You also are eligible for benefits if a health-care practitioner certifies you need continual supervision due to a severe cognitive impairment.
How New Hampshire Long Term Care Insurance Benefits are Paid
You can choose to receive policy benefits one of two ways – cash or reimbursement.
• If you elect cash, you receive a percentage of the policy’s home health care benefit, up to a specified amount each month. There’s no elimination period to satisfy. Cash is available beginning on the first day of qualified need and can be used to pay any cost associated with your long-term care expenses
• If you elect reimbursement, benefits will begin after you satisfy the policy’s elimination period. You will be reimbursed for actual covered long-term care expenses you incur each month, up to the maximum monthly benefit of the policy As long as you remain eligible for benefits, your policy will continue to pay until your current policy limit is reached.
How to Develop a New Hampshire Long Term Care InsurancePolicy that’s Right for You
A New Hampshire Long Term Care Insurance policy can be tailored to meet your specific situation. A Safeguard Insurance producer will help you evaluate your needs and recommend a policy that’s right for you. Assessing Your Needs In order to make an appropriate recommendation, your agent will ask you about your family, your lifestyle, your health, your assets, and your plans for the future.
Making Basic Decisions
There are several decisions to make when purchasing a New Hampshire Long Term Care Insurance policy. First, you should consider how much you will be able to share in the cost of your care. Then, your producer will help you understand policy options and select those that are appropriate for you, including:
• Policy limit – the maximum dollar amount available in benefits during the life of the policy
• Maximum monthly benefit – the highest dollar amount payable in a month for all covered services • Elimination period – the initial number of calendar days you must be chronically ill before benefits begin. The elimination period begins on the first day you are chronically ill and receive a covered long-term care service
• Inflation protection – a percentage by which your benefit amounts will increase each year to help keep pace with inflation Adding Optional Benefits Your agent/producer will explain the many optional benefits that can be added to your policy at an additional cost. Saving on Premium Your Safeguard Insurance producer also will make sure you get all the allowances you’re eligible to receive to help keep your premium as low as possible. You may qualify for one or more premium allowances.
How to Select the Right Company for your New Hampshire Long Term Care Insurance?
When you’re considering a long-term care insurance policy, it’s important to select a company that is strong, stable and financially secure. Connecting You to What Matters is the commitment that Germain Insurance gives to all of our customers. We will find the best Company and policy to fit your unique situation.