3 Tips for Navigating Long-Term Care Insurance and VA Benefits

With all the rules and conditions that must be met in order to qualify, medical and long-term care insurance programs can be complex and utterly confusing for many people, especially seniors.   When planning for your golden years, it’s important to make sure you are prepared financially for whatever comes your way.   Many elderly folks require long-term care as they age, but most are not prepared to pay for it out of pocket.   Here are 3 tips for navigating long-term care insurance and VA benefits to help pay for long-term care:

1.   If you or your spouse is a veteran, you may qualify for VA Aid and Attendance benefits.   Clarendale of Algonquin, a wonderful facility that offers independent living, assisted living, and memory care, works with the Elder Veterans Legal Aid Group to assist veterans and their spouses who qualify for benefits.   A quick phone call to Clarendale of Algonquin will get you on the right track to determine if you qualify.

2.   When shopping for long-term care insurance, make sure you familiarize yourself with what each insurance option covers (and doesn’t cover).   Compare prices, but understand what your out-of-pocket costs will be, including for medications.   These can differ between plans, so the cheaper option may not be the best.   You should check to see whether you’ll be covered for skilled care in a nursing home, hospital stays, and any necessary medical tests.   Read the small print in your policy so you understand any exclusions and whether there are out-of-network benefits.   You will want to select an insurance plan that lets you choose your own nursing facility, should it become necessary.

3.   Select an insurance agent that you trust.   Ask family members, friends, and even staff at your preferred facility to see if they have any recommendations.   Keep asking questions until you’re satisfied you’ve decided on the right plan for you.

For more information, please contact:

Clarendale of Algonquin

2001 W. Algonquin Rd.

Algonquin, IL 60102

Phone:   847-458-6800

clarendaleofalgonquin.com