Long Term Care Insurance? Don’t wait too long to use your benefits

Older adults can seek financial guidance from a range of well-known types of professionals, but when it comes to making long-term care decisions, it can be difficult to know who can help. The senior care services a person needs and can receive are greatly influenced by their health conditions, their health insurance coverage, community resources and programs, and the types of senior care services appropriate for them. It can be challenging to know how to navigate all these factors. Here, we explain three types of experts who can help seniors understand their options for long-term care, including State Health Insurance Assistance Program specialists, social workers, and senior living advisors. State Health Insurance Assistance Program (SHIP) specialistEvery state has a State Health Insurance Assistance Program (SHIP), a free and unbiased information resource that educates state residents aged 65 and over and their families and caregivers about Medicare, Medicaid, and other assistance programs. The Omnibus Budget Reconciliation Act of 1990 required the Centers for Medicare and Medicaid Services to create state-level advisory programs that help the public better understand these complex programs. Because every state runs its own Medicaid program and may have varying rules about other programs and insurance, each operates its own SHIP with volunteers to educate residents. SHIP specialists must provide unbiased information about health insurance programs. For example, they can help explain how to enroll in Medicare, but they cannot enroll someone in Medicare. SHIP specialists can help older adults by: Explaining Medicare enrollment, including penalties associated with late enrollments.Explaining the options for Medicare coverage.Describing services that Medicare does and doesnt cover.Defining Parts A, B, C, and D of Medicare, including supplemental plans.Explaining Medicare Savings Programs.Explaining the Low-Income Subsidy program.SHIP counselors can also refer seniors to the state Medicaid office or the Social Security Administration if they meet eligibility requirements for certain programs.Older adults with questions about insurance and other assistance programs can find their local SHIP counselor at shiphelp.org.Social workerA social worker is a highly trained professional with a masters degree who helps individuals cope with issues and access supportive programs. Social workers who work with older adults are often employed in hospitals, skilled nursing facilities, home health agencies, and geriatric doctors offices.These professionals often have knowledge of state programs like Medicaid and Medicare, PACE programs, and other programs that older adults may need to access. They have contact information for local and state offices that can help older adults with these programs as well. Because social workers have a holistic view of older adult medical conditions, long-term care needs, senior living facilities, and public programs, they are a great liaison for helping older adults access the help they need. Senior living advisorA senior living advisor is a professional with in-depth knowledge about the common care needs of older adults, long-term care options, and financial options to fund care services. A senior living advisor can also obtain the Certified Senior Advisor (CSA) designation, though it is not required. The CSA designation requires the individual to pass an exam and background check. The exam tests knowledge of the aging process, needs for care, financial matters related to retirement and long-term care, and other pertinent topics.A senior living advisor can be a great help to an older adult who needs care and assistance in deciding the best way to obtain that care. These professionals typically offer their services to older adults and get paid by the community or the provider where the older adult moves in or contracts services. Some of the services and assistance a senior living provider will offer to their senior clients and their families include:Educating the senior and family on long-term care options, including home care, so they can decide which option is best for them.Providing suggestions for senior living or long-term care facilities based on the senior clients care needs.Acting as the liaison between the community and the senior and family in scheduling the community tour.Accompanying the senior and family on each community tour.Connecting the senior and family with individuals who can assess financial ability and needs to pay for care services.The senior living advisor deals with many communities and home care providers in their area and can objectively discuss each, helping seniors and their families navigate selecting the right long-term care option. Because senior living options and prices vary depending on the location, working with a local senior living advisor is the best way to learn the most about long-term care options in a seniors area.Get help understanding your long-term care optionsWhen it comes to making a decision about long-term care services, many factors must be considered. While elder law attorneys, estate planners, accountants, and other financial professionals can help older adults assess their financial means to cover senior care costs, individuals like SHIP specialists, social workers, and senior living advisors can help seniors understand their options for care. Through the collaboration of financial professionals and long-term care experts, older adults can more easily access the long-term care services they need.

How to Apply for Long-Term Care Medicaid in ColoradoApplying for Medicaid can be a daunting task, especially when it comes to long-term care. However, with the right guidance and resources, the process can be much smoother. This guide is designed for seniors, caregivers, and Colorado residents to help them understand how to apply for long-term care Medicaid in Colorado. Understanding Long-Term Care MedicaidLong-term care Medicaid provides financial assistance to those who need help with daily living activities, such as bathing, dressing, and eating. It covers care provided in various settings including nursing homes, assisted living facilities, and even at home. Why You Shouldn't Apply AloneGiven the high volume of applications and the complexity of the process, we do not recommend submitting an application on your own. Mistakes can delay approval or result in denial. Should you choose to apply on your own, we will give you the information and tools you need during our free initial consultation with you. Schedule a free consultation here  - calendly.com/doinggoodforothers Steps to Apply for Long-Term Care Medicaid in ColoradoStep 1: Find The Applicants DHS OfficeThe first step in applying for Medicaid in Colorado is to find the applicants local Department of Human Services (DHS) office. This is where you will submit your financial application. Find the Applicants DHS office here - cdhs.colorado.gov/contact-your-county Step 2: Submit a Financial ApplicationOnce you have located your local DHS office, you will need to submit a financial application. This form will require detailed information about your income, assets, and expenses. Step 3: Determine Financial EligibilityBefore proceeding with the application, it's crucial to determine if you qualify financially for Medicaid or VA Aid & Attendance benefits. Strategies exist to access benefits while protecting your personal assets, and a Certified Medicaid Planner (CMP) can help you maximize your benefits. Find out if you qualify - doinggoodforothers.com/financialinformation Step 4: Schedule a Health AssessmentAfter qualifying financially, you will need to schedule a level of care assessment, also known as a health assessment, with the Applicants Single Entry Point. This evaluation will determine the level of care you require. Schedule a health assessment - hcfp.colorado.gov/case-management-agency-directory Step 5: Skip the Hassle of Applying Alone Schedule an AppointmentIf you find the application process overwhelming, you can skip figuring out how to apply on your own by scheduling an appointment with our experts.  Schedule an appointment with a Certified Medicaid Planner - calendly.com/doinggoodforothers Our 4-Step Process for Application AssuranceWe have developed a streamlined 4-step process to help you feel relief about your loved ones care and save money. 1. Schedule a Free Initial ConsultationLearn more about what we can do to preserve your assets by scheduling a free initial consultation. 2. Make a PlanThrough an assessment of your financial circumstances, we will create a roadmap of the best options for you. 3. Pick an OptionWe explore legitimate opportunities to preserve your assets. 4. Gain BenefitsSelect the best option, and we will complete a successful application for gained benefits. Applying for long-term care Medicaid in Colorado doesn't have to be stressful. By following these steps and seeking professional guidance, you can ensure a smoother application process and maximize your benefits.For personalized assistance, schedule a free consultation with one of our Certified Medicaid Planners (CMP) today. Learn more and schedule now! - calendly.com/doinggoodforothers

There comes a time in our lives when we need to begin thinking about planning for our golden years and its never too early to start. Research conducted by the Office of the Assistant Secretary for Planning and Evaluation shows that most Americans over the age of 65 will need long term care at some point. In fact, most of the time the care needed isnt necessarily medical, its to assist with activities of daily living (ADLs). Many people prefer to stay at home where they feel most comfortable for as long as possible, and some simply dont have the financial capacity for a long-term care community. Whatever the case, a long-term care insurance (LTCI) policy, also known as senior care insurance, is a great option to help you offset the costs of home care. It is important to understand the policy and exactly what it does and does not cover so you know how to maximize long term care insurance for home care.What is Long Term Health InsuranceLTCI is a type of insurance policy that is intended to cover the costs of long-term care for older adults such as home care. This policy works similar to home or car insurance where you pay premiums for as long as the policy is in effect and make claims if you need to use the covered services. LTCI policies typically cover some activities of daily living (ADLs) such as meal preparation, dressing, bathing, toileting and or transferring. This is usually the same type of care that would be provided in an assisted living community.Keep in mind that private health insurance, Medicare, or Medicare supplement may pay for short-term services at home like physical therapy or wound care but does not pay for daily support like meal preparation, appointment transportation, light housekeeping, dressing and bathing support. This is where having additional long term care insurance will come in to help pay for these services and help protect your retirement savings.Do Your ResearchJust like vehicle or home insurance, different plans have different coverage, so make sure you know what your plan will and will not cover. Long Term Care Insurance will reimburse you for your home care expenses and typically have maximum daily benefits, elimination periods (waiting period from when you or your loved one become injured or ill and the time the insurance begins paying out the benefit) and policy maximums.To help you manage your budget, make sure that you know what that daily cap is and how much the policy will pay during your lifetime. Typically, under most policies you are eligible for benefits when you cant do at least two of the six activities of daily living on your own or if you have a cognitive impairment such as Alzheimers or dementia. Some insurance companies will even offer optional riders to add to your policy. Each company offers different benefits so make sure to weigh your options to see what works best for your situation and inquire about any discounts the company has available. Some companies will offer a couples discount or a discount if you are in good health.Plan EarlyFor those families planning on utilizing LTCI to help pay for home care, make sure to plan early. Policies have a varied waiting period before reimbursements kick in. Its best to plan ahead and know how long it will be before the insurance becomes active as well as the method and frequency of reimbursement. Its important to know if they have an online portal that you can digitally submit documents or if you will need to fax documents in as this will affect how quickly you get reimbursed.The earlier you start planning the better prepared you will be when the time comes to find a home care provider to assist you or your loved one. Once you are ready to find a home care provider, be sure to ask what insurance carriers they accept as not every provider will work with every insurance carrier. For example, Rhythms Home Care accepts Transamerica, Mutual of Omaha and Genworth Long Term Care Insurance policies.Considering Home CareRhythms Home Care believes in successful aging and provides quality senior in-home services. We are dedicated to supporting you or your loved one with enhancing your personal freedom, quality of life, and focusing on what is important to you and your family. Key home support services include medical and non-medical services as well as designing care plans around you or your loved ones unique needs. Our care partners are also available 24/7 and all team members are carefully screened, bonded, and insured.If its time to start considering home care, you are probably wondering how to choose the right home care provider for you or your loved one. Rhythms is here to help you navigate this next step in lifes journey. Contact us at any time, we are happy to answer any questions you may have and learn more about how we can support you and your family.