Who needs Long-Term Care Insurance in Huntington Beach?

According to the article in Aging in Place a survey carried out by the U.S. Department of Health and Human Services, there’s a 70% likelihood that the average 65-year-old will require some form of long-term care as they advance in age.

What is the cost of senior living and long-term care in Huntington Beach?

There are four levels of long-term care. The cost of Long Term Care in Huntington Beach in 2022 is shown below.

Home Care which will cost about $30 per hour minimum of 4 hours

“Assisted Living” which costs about $5,000 a month

Skilled Nursing” which costs about $8,000 a month

“Memory Care” which costs about $9,000 an up depending on the assistance needed.

How does Long-Term Care insurance in Huntington Beach work?

Long-Term-Care Insurance requires the beneficiary to not be able to perform two of the six daily activities which are:

Bathing. The ability to clean oneself and perform grooming activities like shaving and brushing teeth.

Dressing. The ability to get dressed by oneself without struggling with buttons and zippers.

Eating. The ability to feed oneself.

Transferring. Able to either walk or move oneself from a bed to a wheelchair and back again.

Toileting. The ability to get on and off the toilet. Continence. The ability to control one’s bladder and bowel functions.

What does Long-Term care insurance cost in Huntington Beach?

It depends on the type of long-term-care insurance policy you purchase and the benefits that you want in the policy. You can purchase a traditional long-term-care policy, which is typically the lowest cost.

There is a Hybrid life insurance policy with a long-term-care rider or an Annuity with a long-term-care rider.

What do Medicare and MediCal cover?

Medicare pays:

• In the first place you must be admitted to hospital, stay 3 nights, and then skilled nursing facility.
• In the second place you must require skilled care that is reasonable and necessary to prevent or slow further deterioration.

                        What Medicare Pays

• 1-20 days                    100 % for approved hospital and skilled nursing costs
• 21 – 100 days              You pay a co-pay per day.
• 100 plus days              You pay all expenses.

MediCal pays:

• Must ‘spend-down” assets to qualify
• Use your assets first.
• MediCal eligibility has limitations on income or assets of both.
• Safety-net for the poor.
• Generally MediCal will only pay for a skilled nursing facility.
• Approval would be unlikely if you are receiving a large pension.