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December 23, 2021
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Family Resources

Long Term Care Insurance in California | Golden Age Companions

Long term care insurance is a great way to provide for your future needs. But before you invest, there’s so much information out on the market right now! The options have changed dramatically since long term care insurance was first created decades ago.

If you’re concerned about your aging parent’s safety and well being, it can be difficult to understand what steps are right for them. You might need long term care someday too. This means they could rely on help at home with basic daily activities like bathing or dressing. Similarly, they might need help with eating as well!

Since Golden Age Companions is a licensed home health care company, we are partnered with almost all LTC that clients have. Let’s learn more about long term care insurance, planning, costs, and other factors you should be looking for before buying one!

Planning for Long Term Care Insurance

People are living longer and staying healthier, but they need help as they age. The vast majority of Americans who reach 65 years old require some form of long term care insurance. Even if their family members provide assistance or take on the responsibility themselves!

It is not always possible to fully support an older relative at home with daily tasks like cooking meals, grocery shopping, and house cleaning. This may need taking time off work every day just to provide care and manage the household.

That is why long term care insurance is so important. It can help pay for caregiving services, adult daycare, assisted living, nursing home, and hospice care.

Care can be costly. It all depends on the person needing it and where they live in terms of cost, but there’s also a lot that goes into pricing these services!

Medicaid is the largest single funding source for state healthcare programs. More than 60% of Americans are covered by this joint federal and state program. To be eligible you must meet certain low income requirements that vary from state to state. But this will include exhausting all your savings accounts plus other assets beyond just personal property such as cars and houses before applying.

Cost of Long Term Care Insurance

Long term care insurance can be expensive. The older you are, the higher your premium will be. A 65 year old consumer would pay a different amount per year for a policy compared to 70 years old. Similarly, the cost of medical insurance will be different for 80 years old consumers! Costs also rise again in the 90s. Similarly, factors like how much coverage, Alzheimer’s disease, severe cognitive impairment, and health problems will also affect long term care insurance.

However, consumers should remember that while premiums may be high now, it doesn’t mean they will be forever. They actually drop for people who have reached 80 years old!

The average woman lives seven years longer than the average man, and they have greater chances of making long term care insurance claims.

The cost of long term care insurance may vary depending on the marital status and amount you need to cover. Premiums are lower for married people than for those who are single. But prices will still be different among insurers.

It is important not just look at what they offer in terms of coverage amounts (which can differ greatly). But also how much each company charges per month or year when choosing your plan type.

Long term care insurance is very important if you or your parents are getting older. There are many options to choose from, so work with an expert to help you find the best one for your needs. That’s where Golden Age Companions helps. We have experienced home health care professionals and love helping the elderly with their needs in all aspects.

Early on, it is important to find a good long term care insurance company. The cost will vary depending on your age and health when applying for coverage.

Therefore, it is highly important to compare prices before buying anything! Preparing a list of insurance companies and important questions to ask insurance agents is crucial to selecting the best life insurance. It will improve daily living, in home care, health conditions, and health history.

Long term care improves daily living and covers the medical expense.

Best Time for Long Term Care Insurance

The right time to start thinking about long term care insurance is when you are between ages 52 and 64. This age range has been found by many people as being a good guideline.

However, each person’s situation will dictate what works best for them specifically. Planning for long term care is something many people start thinking about as soon as they are diagnosed with a chronic condition. When applying, most insurers ask they are in relatively good health? Therefore, starting this plan early will give your future self peace of mind!

Starting at age 40 the average person will require 4.3 years of long term care and as we age that number increases significantly! Statistically, someone who is 65 will need care for an average of 7 years.

As you can see by those numbers, taking action early is a much better option than waiting until later in life to start thinking about long term care.

One of the best things you can do is consult with an insurance agent and discuss your options. They will be able to help you find a policy that fits your needs and budget.

When you buy health insurance, the process is simple. You enroll in a plan and it starts to cover your medical expenses right away but not always. The waiting period ranges anywhere between just days or up one year at a time. Tax qualified policies and long term care policies should be checked.

Paying for Long Term Care

Payments for long term care can be difficult if not thoroughly investigated. There are many options, and the price varies depending on what type of home care you need. The length of homecare, where it comes from, or who will provide this service (e.g. medical professional) will also determine the cost.

Some people turn to their personal savings account. Others get help paying through Medicaid/Medicare programs which offer cash assistance instead. These programs often come with certain conditions as well. There are also life insurance policies or annuities that may cover some expenses. There’s always Long Term Care Insurance


If you are in a nursing home, the Medicare program can pay for skilled care provided by nurses and therapists. This only lasts up until 100 days. After that, the patient is responsible for the cost of care.


Medicaid will continue to pay for nursing home care as long as the person meets the program’s eligibility requirements. These include low income and being a U.S. citizen or legal resident. Medicaid also pays for some home health care services.

Personal Funds and Resources

If you don’t have Medicare or Medicaid, you will have to pay for home care yourself. This is not something for you to decide lightly. You need expert advice about your situation, and home care providers who can deliver the right services at the right price.

That’s where Golden Age Companions come in. You can visit Golden Age Companions office in Irvine, California to discuss everything in detail. You can also use form or call us any time to get an appointment.

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