Because of advertisements who promote living life to the fullest and in the moment, most people nowadays lose focus on planning for the future. Sadly a big chunk of the LGBTQ community are a part of this. But what happens when things don’t go as expected? Healthcare Insurance options should be considered on top of the long-term plan.
It’s common knowledge that we don’t retain all functionality as we age. Day to Day activities may pose as a challenge and that’s where nursing homes come in. They help take care of this while ensuring your medical condition is in check. Having a Long-Term Care Insurance (LCTI) provides peace of mind by covering financial coverage for medical and assisted living care. LCTI does not consider sexual orientation or preferences for being eligible for their plans.
LCTI plans come in different forms and may be triggered 30 to 180 days after accident or illness. Prior to it being triggered, patients are expected to pay off bills on their own. For someone who does not have any LCTI, they maximize their assets to pay off bills until they qualify for Medicaid.
The cost of LCTI falls nicely within the average of what most LGBTQ people can afford. Rather than warrant unwanted worry from people we love, why not plan ahead and think about it as early as now? As we grow older, it won’t be as easy then to quality for LCTI plans. Make it a conscious effort and ease the worry of your loved ones.
Here’s a Forbes article that has more information on this subject.