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Long Term Care Insurance: How it Covers Homecare Costs and Improves Caregiver Wellbeing

Home Care Services and LTCi

At first, long-term care insurance was primarily intended to protect individuals from the expense of a lengthy stay in a nursing home. However, as the public need and preference for home care has grown, private long-term care insurance policies have expanded their coverage of in-home services.

Home care services cover a wide range of needs, including:

  • homemaking and companionship
  • meal preparation
  • medication reminders
  • Transportation to medical appointments

Often, skilled services that utilize the expertise of a nurse may also be grouped within the home care category. Services of these agencies include:

  • checking vital signs
  • coordinating with doctors and other healthcare professionals
  • performing comprehensive health evaluations. As a rule, skilled nursing services are provided by home health agencies.

Home care services are best when provided through an agency that employs, trains, bonds and insures, and background checks its caregivers. This allows to you have peace of mind knowing that you are bringing someone into your home that you can trust.

Some insurance carriers offer a discount to small agencies, and many do not require a caregiver to be employed by an agency to be eligible for insurance payment. This provision allows for non-skilled caregivers – or family members – to carry out certain activities of daily living.

Long-term care insurance will reimburse you for whatever home care you choose; just keep in mind the hidden costs of a private caregiver or an independent contractor, and remember the benefits of using a professional caregiver from an agency to keep you safe and independent in your home.

LTCi Affect on Caregivers

Studies have shown that long-term care insurance plays an important role in reducing workplace disruptions and social stresses. Caregivers who provide care for a disabled elder with LTCi are slightly less likely to experience severe stress. Research also shows caregivers devote more quality time to those who have LTCi. This may be significant for employers who are looking at corporate eldercare and policymakers who want to reduce the negative economic effects of caregiving.

Additional research is being conducted to discover other ways to support caregivers and improve the home healthcare industry.

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