Medicare, Medicaid & Disability

  There is often a great deal of confusion between the roles
of Long-Term Care Insurance, Long-Term Disability, Medicare
and Medicaid. It is important to understand the differences.

LTC Insurance v Long Term Disability.

  In order to ensure you are getting the proper protection for your
long-term needs, you need to be able to distinguish the differences between these two forms of insurance.

  Long-Term Disability protects your future earnings in the event
you are in a situation where you become disabled. This may include becoming paralyzed, broken limbs or an amputation. It tends to cover a percentage of your income (usually 60%) from your job.

  Long-Term Care Insurance is not mean't to supplement your income. Instead, it provides coverage of your expenses when you are in a nursing home, home-care program or assisted living facility.

LTCi - covers long-term care expenses

                        LT Disablity - protects your income

Medicare and Medicaid.

Medicare specifically excludes intermediate and custodial care
which are the most needed types of long term care.
Medicare only pays if you have been in the hospital for at least 3 days first and then only provides skilled care ("medically necessary care") in a facility or at home for 20 days.
If you are chronically sick or permanently incapacitated Medicare
fails to cover long-term care.

Medicaid is that part of the welfare system that pays for an
impoverished person's health care when they have lost or
spent-down all of their assets.
This federal health care program will pay for long term care.
But to qualify in most states, a senior must have less than
$2000.00 in assets. You would have to surrender any income
such as pension benefits or Social Security to keep it.

  .... for more information see page 5 "Shopper's Guide To Long Term Care Insurance"