Long Term Health Care insurance?

Question

My 22 yr old daughter is scheduled for her 2nd set of MRI's (neck & spine) on May 11th.  Brain MRI showed MS lesions. It was suggested to me by a cousin who's wife has MS and has been in a nursing home for the last 4 years, that I should consider getting LTHC insurance before we get a diagnosis.  Thus, avoiding having a pre-existing condition.  

This is another totally new area for me.  Is this something I should look into?  It would probably be many years before she would need it - if ever - but would be worth it if the situation arose.  If she never needs it, well, then I'll be happy enough that the money spent won't bother me at all!

You've all been so helpful already, and I appreciate any input you have on this...

Sumanadevii · Answer

Yep, on nursing care facilities you have to show you have zero assets...or something close to that...to receive Medicare in a facility.  I misunderstood your question.

Siddy1 · Answer

Yes I am on Medicare but it does not provide for "custodial" care.  Custodial care (NON-SKILLED  care) is care that helps you with activities of daily living which is what long-term care provides for i.e. dressing, bathing etc.

Medicare pays only for medically necessary SKILLED nursing facility or home health care. However, you must meet certain conditions for Medicare to pay for these types of care.

mARCIE

Sumanadevii · Answer

Are you on Medicare too?  Home health care is covered with it.

Just a thought.

Siddy1 · Answer

My husband and I have had LTHC for 9 years. When we bought it we were both in good health.  We had no hint of what was to come.  Three years later I had my first mild symptoms of MS.

Now my husband is a diabetic and I have an advanced stage of SPMS, and am in a wheelchair. I am beginning to need help dressing and bathing which is getting too much for my husband so I will be relying on  LTHC to help us out.  I'm not sure how to go about it but I will probably need a doctor's note.

We pay approx $2,500 a year for both policies.


Marcie

It is difficult to say when you should buy LTHC insurance.

lilbit1986 · Answer

If you're able to get it for her, the best time would be to get it now. Because she is so young, her rate should be relatively cheap. Once she receives a dx it will be next to impossible to get it. I messed around & let the opportunity slip and now am not qualified. I would definetly check into it.

HVAC · Answer

If she has had an abnormal MRI or any health record looking for MS it may be too late to get a good rate. Whatever you do be completely honest on Insurance forms.They have investigators who will find out. You still might be able to get it at a good rate depending on the company. They are playing on actuarials or statistics. Our local NMSS chapter has an insurance expert to help people with such things.

I know all this stuff is scary and overwhelming. At her age and with good treatment she may not need LTHC any sooner than a healthy person. She may be able to get it through work if she is denied now. Like group health insurance.

Hang in there and remember to breath you have a lot on your plate.

Alex

essdipity · Answer

Yes, try for it. I was denied it, quite a few years ago because on my form I had to report an abnormal brain MRI. Maybe your forms won't be that specific, or if they are, find another source.

I wasn't diagnosed with MS till many years later.

ess

Lulu54 · Answer

What an excellent question.  The odds are if it is MS she won't need LTHC for many, many years or if all. That said, the only way she is probably going to get it , or at least at an affordable price, is if it is purchased now.  

If I could go back to my 20's and purchase LTHC, I would definitely do it.  It might not be MS that stops me and requires care - it could be any number of diseases and unfortunately, now that I have MS I can't afford  to even think about LTHC.  

I would look into it, and do it now.