Article published by : Georgina Thorne on Wednesday, July 04, 2012 - Viewed 788 times

Cumming.Live

Category : Insurance

Why The Need To Buy Nebraska Long Term Care Plans Early



The state of Nebraska may be one of the states with cheaper LTC costs but this does not mean that the residents do not need to own a Nebraska long term care insurance policy any longer. As a matter of fact, they need to consider getting one now before the prices get higher.

As projected, the elder population of Nebraska would increase by as much as 45% in the year 2030. This means that more and more local residents would need the help that they can get from nursing homes and other adult day care facilities in the area. However, there is a big probability that not all of them can have or get the right medical attention that they would need.

At the moment, the number of local residents who are uninsured still surpasses that of those who have already secured themselves of an LTC plan. This might bring big problems in the future because those who do not own one yet might turn to Medicaid to ask for assistance. And the government is not very sure if the Medicaid can still accommodate all those who need help due to lack of funds.

Every year, the Medicaid spends billions and billions of dollars just for the LTC-related expenses of its beneficiaries alone. And with the continuous increase in the monthly premiums, medical expenses, and LTC costs, and with the impending boom in the elder population in the country, it might not be able to support all the basic LTC needs of the public.

This is why the local government is eagerly pushing its residents to avail their Nebraska long term care insurance policy before it’s too late. They can take advantage of the more favorable rates and costs now than to wait for two to three years more because it would definitely be much more expensive by then.

Presently, a private room in a nursing home in Nebraska would cost at around $68,000 to $70,000 a year while the rent in a single occupancy bedroom in an assisted living facility would approximately be from $33,000 to $35,000 annually.

If you find these figures expensive, then just imagine how much you would have to pay when the time comes that you would need to use these facilities and avail of the services that your health condition would require. Given the annual increase of almost 10%, one might possibly exhaust and consume all his personal savings and other personal assets just to compensate for all his LTC requirements. And the sadder part of this is that all these might still not be enough for him to receive proper medical care and treatment.

Insurance providers nowadays have more lenient guidelines when it comes to LTC plan application so an individual who is interested in getting one is advised to plan as early as possible and to seek help and advice from those who are more familiar with LTC insurance policies.

Your future is at stake! Learn more about Nebraska long term care policies now and contact your insurance provider for more thorough explanation about everything that you have to know about it.

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Keywords: long term care quote, long term care insurance costs

By: Georgina Thorne

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