What kind of care is covered by long term care policies?
ANSWER:
Covered expenses can vary from policy to policy. In a comprehensive policy, benefits are paid for services delivered in nursing facilities, assisted living facilities, adult day care centers, or at home. A non-comprehensive policy restricts the benefits to services that are provided in nursing facilities. Care is further subdivided into skilled care and custodial care. Skilled care is generally ordered by a physician under a plan of treatment, and is provided 24 hours a day. It is usually provided in a nursing home. Personal care or custodial care helps a person perform ADLs (activities of daily living) -- assistance that can be provided in almost any setting.
Long-Term Care
Health Savings Accounts
You can use this account to pay for your qualified health expenses, including expenses that the plan ordinarily doesn’t cover, such as eyeglasses and hearing aids.
Expenses paid out of the HSA that are eligible expenses under your high-deductible health plan will count toward the plan’s deductible.
