Long Term Care problems Solved
Ask the expert, Dennis H. Lentin

I don't want to go to an institution if I need skilled care. Can I receive the same services in my home if I buy Long Term Care insurance?

This is a very difficult question to answer. Everyone, or almost everyone wants to be cared for at home as opposed to being cared for in a nursing home. We need to look at the level of care available in the home. Long Term Care insurance policies will pay for all care up to the daily dollar maximum as indicated in the policy. Today's policies are written with a maximum payment of three hundred fifty dollars per day (The purchase of inflation protection will increase this amount automatically.)

When purchasing Long Term Care insurance you should purchase the amount that is needed and then add inflation protection depending upon current age. The daily benefit suggested for today's costs is one hundred twenty five dollars per day in the South Florida area. Home Health Care costs in this area are from eighty dollars to one hundred thirty dollars per day, for custodial care, provided by an agency or an independent caregiver.

Some policies permit Agency only care. Skilled Nursing Care, if required around the clock could cost as much as four to five hundred dollars per day. Most residences are not equipped to handle twenty-four hour skilled care needs. Nursing homes are. The average cost of a semi-private room in South Florida is one hundred twenty five dollars per day. Therefore the answer to your question is no.

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Dennis H. Lentin
DL Financial Consultants
3852 Black Forest Circle,
Boynton Beach, Florida 33436