The Dayton Daily News has posted an article on the growth of home health care companies in Ohio.
“I think there’s been a real renewed interest in home care,” Thompson said. “I think people are looking for alternatives for care and again to remain in their homes I think [because of] the cost of moving into a facility, and they have to give up a lot to do that. I think independence is important to that population.”
Many life insurance plans at no extra upfront cost come with an accelerated benefit rider for chronic care. Being unable to perform 2 out of 6 activities of daily living, like dressing or bathing, or cognitive impairment allows the policyholder to accelerate portions of their life insurance benefit for long term care. The better plans allow an accelerated cash benefit.
These hybrid life and chronic care plans offer fixed premium, guaranteed for life. They can be structured to build cash value and have an increasing benefit. Once certified by a doctor as needing chronic care and a plan was devised that home health care was a suitable option, the accelerated benefit could pay for home health care services. Any benefits not needed would pass on as a life insurance death benefit.
This kind of coverage is affordable and a very good solution for the associated costs of home health care.