Long Term Care Insurance

To establish a voluntary group, a full census of all employees, whether being offered coverage or not, must be submitted to the insurance company with request form specific to each company.  Approval by the insurance company of a voluntary group is required to obtain a group discount.   

If the employer pays for coverage, there may be an opportunity to have fewer health questions.  

Policies pay for qualified long term care cost based on the contract.  The basis can be cost-Incurred Benefit/Reimbursement Plan or Indemnity Benefit or Cash Benefit

A cost incurred benefit reimburses actual expenses up to the stated daily or monthly benefit amount.

Find out what the cost of care is across the United States by reviewing Cost of Care Study.  You can see what the cost of care is in three different city/state combinations not only today but in the future.  It is important to know the cost of care today, but also in the future when you may need care.  The benefit level you select in designing a long term care should take into account the future cost of care.

One carrier has a minimum of 100 eligible members, other carriers have requirements for new applications on an annual basis.  For current available offerings contact Baygroup Insurance.

Requirements vary with insurance company, here is an example:

You can contact Baygroup Insurance.  We will educate you so that you can make an informed decision.  We will help you design a plan that meets your individual needs.  

Long term care insurance protects against the cost of care resulting from an injury, illness, accident, development of a chronic condition or the fraility that comes with aging.  Costs occur when either facility care (nursing home or assisted living) or care in the home or in the community (home health care or adult day care) when paid caregivers are needed. 

The cost varies with each person. It is based on state of residence, age, health and benefits selected. To obtain specific pricing, contact a long term care planning specialist with Baygroup Insurance.