Reply to Eligibility Determination for Federal Long Term Care Policy

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[quote=Anonymous][quote=Anonymous]My parents have a federal long term care policy under John Hancock (the long term policy under FLTCP). They are soon going to be ready for needing to use this policy. However, I am not certain how to determine when they are eligible exactly. Should I ask the insurance company for eligibilty determination? Or should I hire someone (like a geriatric care manager) for an outside assessment? To qualify, they have to be unable to carry out two activities of daily living. I am worried about personal care (nails long, uncut) and that they may not be taking their medications. Eating is also an issue for one but the other is providing that service.

Thoughts/advice on the use of long term care insurance?[/quote]

My suggestion would be this:

- Find a place that lets you come in at some level as self-pay, then transition to Medicaid after a certain period.

- If at all possible, set enough insurance benefits aside to pay for care for one parent during that transition period.

- Use the rest of the funds to pay for homemaker services.

- Use home equity (maybe by simply selling the home) to pay for home care and facility care for the healthier parent. If the sick and parent dies without needing to touch the facility care money, and the parent can use the leftover benefits, then the second parent can use that money, too.

- If some of the benefits go unused, that’s wonderful. That means one or both parents stayed reasonably able-bodied till the end. The last thing people should want is need their long-term care benefits. [/quote]

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