Long Term Care Insurance

What is Long Term Care ?
什麼是長期療養 ?

The assistance someone needs when they cannot take care of
their own basic personal need.
長期療養是幫助某人的需要當他們不能照顧自己的日常基本需要.

What about Medicare & Others ?
老人退休福利或其他政府福利會支付長期療養嗎 ?

Medicaid
救濟金

Required depletion (spend down); typically $2,000 assets*(plus home)
$30/m income
要把財產用盡

Medicare
老人退休金

Pay only in small percentage of cases; designed for acute care
大部分情況下不會支付

Medigap
老人退休的自付私人保險

Supplements pick up for Medicare on acute care; does not cover
Long Term Care
不付長期療養

Most Health Insurance plans do not pay for Long Term Care !
大部分醫療保險不會支付長期療養費用 !

Who pay for Long Term Care ?
誰支付長期療養費用 ?

Medicaid 救濟金.....45%
Medicare 老人退休金.....5%
Self & Family 自我或家人.....46%
Other 其他.....4%

Emergence of the Disability Model
長期療養理想的模範

Medical Model

Reimburse for specific services
付錢以指定服務範圍為準

Care must be provided in a licensed facility
必需在有執照的療養院照顧才付錢

Qualifying for benefits varies by user
福利不畫一

Risk attached to reimbursement for medical services
付錢是按照醫療服務為準

Complex benefit payment process
復雜性的付錢方法

Disability Model

Indemnity-based-pays fixed benefit amount
付錢是確定的

Allows payment for nursing home or at-home care
允許在療養院或在家療養也付錢

Activities of Daily Living (ADL) benefit trigger-based on loss of set ADLs
-Predictable Insurance risk
指定行動受阻便付錢

Risk attached to disability incidence
-more stable
付錢是按照行動受阻為準

Simple benefit payment process
簡單的付錢方法

How is Eligibility for Benefits Determined ?
怎樣有資格拿得福利 ?

Loss of ability to perform 2 or more ADLs without stand-by assistance
OR Cognitive impairment
損失能力操縱至少兩樣日常照顧自己工能,需要他人幫助或缺乏認識能力

1. Activities of Daily Living(ADLs)

Bathing
Dressing
Toileting
Transferring
Continence
Eating/Feeding
OR (AND not acceptable)

2. Cognitive impairment

1.每天行動受阻礙
洗澡
穿衣服
自己使用廁所
運作
缺乏管制大小便能力
吃/飼
或 (和是不能接受的

2. 缺乏認識能力

Should I give (gift) away everything to receive Medicaid (welfare) ?
我是否應該把財產送給他人,向政府申請救濟福利 ?

Do you want to live with strangers in a crowded room during your final years ?
你是否想要在晚年時過非人生活 ?

Do you know the NEW 5 years look back rule on gifting - you can go
to jail for breaking the law !
你是否知道新的救濟福利法令, 犯法者要監禁 !

How do I protect myself, my assets and to live comfortably during my final years?
怎麼樣保護我,我的財產和舒服地安享晚年?

Give us a call and we will show you how. There is always no obligations on your part.
請打電話給我, 讓我們提供你經濟和可行的辦法.

Johnson W. K. Choi 蔡永強敬

johnsonchoi@johnsonchoi.com