FLORIDA LONG TERM INSURANCE
Whereas the rules and regulations governing long term care insurance can be complex, in most states, there are some standard guidelines which must be adhered to. Florida is no exception and policies are issued under strict rules and policies.
In Florida, a long term care policy must cover at least two years of nursing home coverage. A policy must also provide coverage for what is known as a lower level of care, such as adult day care or home health care. The three basic levels of care are known as skilled, intermediate and custodial.
LONG TERM INSURANCE IN FLORIDA
Long term care policies sold and issued in Florida cannot exclude coverage for named medical conditions or such conditions as dementia or Alzheimer's. A long term care policy will typically not include coverage for such things as nervous disorders, drug addiction or attempted suicide.
Under Florida law, you have certain other regulations that your insurance company must follow when you take out a long term policy. The insurance company cannot cancel your policy unless you simply don't pay your premiums or you do not disclose required information. State law in Florida also requires companies to offer protection against inflation on long term care policies.
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And Florida may soon have the strictest guidelines in the United States covering long term care insurance. A bill passed in early 2006 aims to protect current policy holders from huge rate increases as well as making long term care insurance affordable for all Floridians.
Long-term care insurance (LTC or LTCI), an insurance product sold in the United States and United Kingdom, helps provide for the cost of long-term care beyond a predetermined period. Long-term care insurance covers care generally not covered by health insurance, Medicare, or Medicaid.
Individuals who require long-term care are generally not sick in the traditional sense, but instead, are unable to perform the basic activities of daily living (ADLs) such as dressing, bathing, eating, toileting, continence, transferring (getting in and out of a bed or chair), and walking.
In the United States, Medicaid generally does not cover long-term care provided in a home setting or for assisted living. However, Medicaid does provide medically necessary services for people with low income or limited resources who "need nursing home care but can stay at home with special community care services."
People who need long-term care traditionally prefer care in the home or in a private room in an assisted living facility.
Long-term care insurance generally covers home care, assisted living, adult daycare, respite care, hospice care, nursing home and Alzheimer's facilities. If home care coverage is purchased, long-term care insurance can pay for home care, often from the first day it is needed. It will pay for a visiting or live-in caregiver, companion, housekeeper, therapist or private duty nurse up to 7 days a week, 24 hours a day (up to the policy benefit maximum).
About: Florida Long Term Insurance | LTI FLorida | Long Term Insurance in Florida
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