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Long Term Care
What is long-term care?
Long-term care is a variety of services designed to meet a person's health or personal care needs during a short or long period of time. These services help people live as independently and safely as possible when they can no longer perform everyday activities on their own.
Who needs long-term care?
Anyone can need long-term care at any age. However, the risk increases as one gets older. Others who might require LTC include those with chronic illnesses, disabilities, or conditions like dementia or Alzheimer’s disease.
How can you get Long Term Care?
Traditional
Long Term Care
Paying your premiums gives you access to a predetermined pool of funds or a certain amount of reimbursement for costs of your care.
There can be tax benefits and different discounts available to help with costs.
Hybrid Life
Long Term Care
Paying your premiums gives you the ability to utilize your predetermined death benefit for your care should you need it . If you do not use the death benefit for your care, your beneficiaries receive that amount at your passing. Two policies in one.
Hybrid Annuity
Long Term Care
One time lump sum payment that when claimed on almost doubles your deposit and becomes 100% liquid (usable) for your care.
Frequently Asked Questions
What are the types of long-term care services?
They include:
Home-based care: Personal care, nursing, and therapy services at home.
Adult day health care: Daytime programs outside the home.
Assisted living: Residential communities offering personal care services.
Nursing homes: Institutions providing 24-hour nursing and personal care. Hospice care: Services for terminally ill individuals.
How is long-term care paid for?
Long-term care can be expensive. Payment sources include personal savings, long-term care insurance, Medicaid (for those who qualify).
What's the difference between Medicare and Medicaid in terms of long-term care?
Medicare is primarily health insurance for seniors and some disabled individuals, and it typically does not pay for long-term custodial care. Medicaid is a state and federal program for low-income individuals, and it may pay for long-term care if one qualifies.
How do I plan for long-term care needs?
Planning is crucial since there's a good chance one might need long-term care. Start by assessing personal risk, understanding different services, researching LTC insurance options, and considering your financial position and any government benefits you might be eligible for.
Can I receive long-term care at home?
Yes, many people prefer to get LTC in their own homes. This can be through home health agencies, personal care aides, or even family caregivers. Some insurance plans also cover home-based LTC.
What are the advantages of long-term care insurance?
LTC insurance can help cover the costs of care, protect assets from being depleted, ensure more choices for care types, and may provide peace of mind for both the individual and their family.
How do I choose the right long-term care facility or service?
Start by assessing your needs or those of your loved one. Visit multiple facilities or providers, ask questions, review inspection reports, and consider feedback from residents and families.
What factors impact the cost of long-term care?
Costs can vary based on the type and duration of care you need, location (urban vs. rural, which country or state), the provider, and the level of luxury or specialization of the facility or service.
What is "Activities of Daily Living" (ADLs)?
ADLs refer to basic self-care tasks, including bathing, dressing, transferring (moving to and from a bed or chair), toileting, continence, and eating. Assessing someone's ability to perform ADLs helps determine the level of care needed.
Can family members get paid for providing long-term care at home?
In some regions or under certain programs (like Medicaid), family caregivers can be compensated for providing care. Each situation is unique, so it's essential to check with local agencies or professionals.
What are the signs that a loved one might need long-term care?
Signs include a decline in physical health, inability to manage ADLs, worsening chronic health conditions, cognitive impairment, frequent falls, and increased hospital visits.
How frequently should I review my long-term care insurance policy?
It's advisable to review your policy annually or after any significant life change, like a health diagnosis, marriage, or retirement.
Are there alternatives to traditional long-term care insurance?
Yes. Some life insurance policies or annuities offer long-term care riders. There are also hybrid policies combining life insurance with long-term care benefits.
What should I consider when hiring a home care provider?
Verify their qualifications, training, and experience. Check references and conduct a background check. Ensure they can cater to your specific needs, be it medical care, ADL assistance, or companionship.
Many people believe that Medicare generally covers nursing homestays. Unfortunately, there are many costs associated with nursing home stays that are not covered. This makes it important to review what coverage options are available and which one might be right for you and your family.
This becomes more and more important as people continue to live longer. Recent statistics show that a private nursing home stay can cost more than $80,000. The government says the average length of stay is more than 800 days. The Wall Street Journal reported that of those who turn 65, more than 70% will eventually need Long-Term Care.
Long Term Care may not be an option for everyone, which is why we also have Short Term Care plans available. This is affordable protection against unanticipated events that can create serious financial damage. It deserves thought and discussion. Additionally, if possible, most people would prefer to stay in their homes. Home Health Care coverage may be just the thing that prevents a nursing homestay.
Your Options
Traditional Long Term Care
Paying your premiums gives you access to a predetermined pool of funds or a certain amount of reimbursement for costs of your care.
There can be tax benefits and different discounts available to help with costs.
Hybrid Life Long Term Care
Paying your premiums gives you the ability to utilize your predetermined death benefit for your care should you need it . If you do not use the death benefit for your care, your beneficiaries receive that amount at your passing. Two policies in one.
Hybrid Annuity Life Long Term Care
One time lump sum payment that when claimed on almost doubles your deposit and becomes 100% liquid (usable) for your care.
Let us help you live a healthy, happy,
stress-free retirement.
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(253) 244-5520
(425) 678-1251
Send us a Message
About Us
Our company has been serving clients for 8+ years. We not only love what we do but we love who we serve. Whether you are looking for Medicare plans, Life insurance or Financial services, etc. The Medicare Exchange is the go-to company for all of your retirement needs.
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Client Testimonials
(12/5/2024) Thank you, Medicare Exchange! Shane Hansen came to our rescue today and clarified a confusing situation with our medical insurance. As well, he made sure we're all set up with the right company and the right plan. He is dedicated and knowledgeable to the max! And we are grateful. ...now we have an insurance agent and a friend for life. He is patient and trustworthy and knows the business. Thank you, Shane, you're the best!
Thanks for the help!
Don & Sheila Joan W.
Being partially blind I was looking for help in trying to understand what was needed to apply for medicaid medical assistance .
I contacted the Medicaid Exchange. They put me in touch with Dale. Dale helped me through the process of enrolling in Medicaid and set up a Medicare Advantage Policy. He answered all my questions and suggested others I hadn't thought of.
The result, with Dales help, I now have medical insurance.
I wouldn't have been able to get this done without Dale's expert support .
Thanks for the help!
Jim D.
Duke was absolutely Superb! He helped find a way for me to pas on a legacy gift to my daughters, when I didn't think I could. Very satisfied with his service !
Anne S.
Nicole is a very nice caring person. She is interested in you as a person. She truly cares, and loves to help you reach your goals. She spends time with you till all your questions are answered. She doesn’t just sign you up for a plan. She comes back to see if you like the plan your on.
Becky S.
Tony bent over backwards for me and went above and beyond.
Robert A.
Amber was SPECTACULAR! She listened and was patient and explained things to so I could understand. She is so sweet!
Lori W.
Nicole is a very knowledgeable lady. She was able to help my wife get a health plan that was perfect for our needs. She followed up exactly as she said she would. I don't know how my wife and I would have done it without her. I highly recommend her services. Thank you Nicole!
Dale B.
Nicole Pedersen is a very educated broker on health benefits. She has helped me very much and has always been so nice and pleasant to work with. I can always depend on her whenever I need her.
Claudette S.
Hats off to Medicare Exchange! Why, because Dale Eller is the ‘complete package’ wanted to leave message about Dale because he has gone ‘above and beyond’ to not only meet up with me but was patient enough to allow me to meet on my time. This is a rare commodity today. He is cordial, comfortable and easy to talk to with exhibiting a high level of professionalism. His knowledge, background and years of expertise allowed him to meet my needs and get to a solutions quickly. This stuff is complicated and I was going die. The wrong path until Dale and I met. He has steered me in the most optimal direction tailored to fit my needs Feel very fortunate that Dale reached out to me and know I will be in good hands now and later as I needed his support going into my future plans. Please give Dale the opportunity to talk with you, he will guide and tailor your next steps to meet your personal needs! Thanks again Dale, looking forward to our next step! Ask for Dale Eller he's your man!
Julie B.
Shane has been amazing to work with. His true dedication to finding the best options for us is to be commended. We always appreciate Shane's willingness to go above and beyond in assisting us. We not only consider Shane to be our agent, but we consider him to be a true friend. How Blessed we are to have Shane in our life
Dave & Lynne M.
Tony and Audra helped me pick a plan that will work with my doctors and not cost me a lot to see my specialist. They answer my calls and questions. They are good, caring people.
Barbara M.
Nicole was very helpful. She was able to find the best plan for me. Thank you Nicole.
Edgar D.
Susan is an AMAZING Medicare Advisor/Navigator ! She is truly interested in each of her clients getting the best plan for them and will review the various choices with you, while making the best recommendation and explaining why it is her recommendation in easy-to-understand language. She makes sure to ask pertinent questions regarding your health and life situation to assure this. It is clear this is important to her, to deliver what I’d call ‘Concierge Service’ … at least that’s what you feel like you’re getting! Each year in the Enrollment Period, she makes an in-person appointment with you to answer any questions, and tell you any changes in your plan or coverage she recommends. It is very, very clear that she knows each plan and each nuance and all the updates perfectly. She is extremely professional and her clear knowledge instills confidence that you’re getting the best plan for you. My own experience is that I’ve had slight changes in my plan each year, and each year it’s worked out I had the best coverage I could get with the changes that were made, both in services and cost. I could not be more happy and satisfied with Susan’s service. She’s prompt, smart, after your best interests, enthusiastic, available/responsive to calls … I couldn’t recommend anyone that would do a better job. Like I said at beginning- SUSAN IS TRULY AMAZING… And I wonder if there’s a way of making this testimonial stronger?!
Cheryl M. P.
Audra and Albert have been outstanding representatives. They have answered all my questions. I appreciate the follow up they have given me since I signed up with them. I will be referring them to one of my friends in the near future because they have been so helpful and professional with me
Paula A.
I just today saw the article on your website about the wonderful party Tacoma had for my 86th birthday on July 17, 2023. I didn't realize when I set an appointment with Amber for that day that It was going to be a party! Thank all of you for that, and Amber for baking the biggest, roundest, most chocolatie, most decadent, most perfect birthday cake I've ever seen or eaten! And she very sweetly added just enough candles but not enough to cause a fire ..... Thank all of you, also, for being there for me and other seniors like myself - Amber and Alejandra have helped me throughout my entire health insurance problem, answering every question instantly and with total knowledge. I am recommending ya'll to everyone I know, including the Coordinator at my apartment complex. Thanks again!
Darlyne J.
About Us
Our company has been serving clients for 9+ years. We not only love what we do but we love who we serve. Whether you are looking for Medicare plans, Life insurance or Financial services, etc. The Medicare Exchange is the go-to company for all of your retirement needs.
Opening Hours
Monday - 08:00-5:00
Tuesday - 08:00-5:00
Wednesday - 08:00-5:00
Thursday - 08:00-5:00
Friday - 08:00-5:00
Saturday & Sunday - BY APPOINTMET ONLY
The Medicare Exchange is not affiliated or endorsed by the federal Medicare program. Calling our phone number will connect you to a licensed broker who is trained and certified to help you review the plan options available in your area. We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all your options
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