One sure-fire way to minimize stress in a stressful process is to be fully prepared and informed. And even though retirement is a phase that brings relief and joy in doing everything you didn’t have time for when you were working, it’s a real transition. And all transitions can give rise to some kind of concern or stress
When it comes to long- and short-term care insurance, there are, indeed a couple of absolutes. Special everyday care – whether inside your own home or outside – can be very expensive. And while it’s been a staple of the insurance picture for a long time, there are many cases in which you won’t actually need long-term care. Short-term care insurance, also known as Home Health Care insurance, covers that need.
Short-term care policies typically provide coverage for a period such as six months or one year. These new policies are helpful for a variety of reasons. They generally cost less per premium than long-term policies and short-termers are usually easier to qualify for the coverage.
Let’s take a fairly common circumstance. A 70-year old woman breaks her hip. She goes to the hospital, has an operation and gets fixed up. But she has no family nearby that can help her handle the everyday tasks of living at home for several months like cooking, shopping for groceries and standing for long periods to prepare food. A short-term care policy would cover those professional help needs until she is back on her feet, back at lifting weights everyday.
Regardless of which path you take on your road to retirement, your association is here to provide advice, social opportunities and the wisdom of experience, plus support from partners like AMBA and its friendly experts to help with your insurance needs. Learn more on the association’s website and www.myambabenefits.info
Eleanor Laise, Short-Term-Care Insurance Policies on the Rise, Kiplinger’s, retrieved from:
Donna Rosato, 5 Key Things To Know About Short-Term Health Insurance, Consumer Reports, retrieved from: https://www.consumerreports.org/health-insurance/short-term-health-insurance/