Types of Care

Long-term care insurance pays for a wide range of services and procedures that typically aren’t covered by medical insurance. The types of care fall into three categories: skilled, intermediate and custodial.

 

Skilled

If you have a serious illness or injury that you can recover from, you will probably receive skilled care from nurses or professional therapists. Skilled care is provided daily, usually ordered by a physician, and involves a treatment plan. In short, skilled care helps get you better.

Intermediate Care

This type of care is similar to skilled care, but not provided on a daily basis. For instance, if you injured your leg and need to visit a physical therapist five times a week to help you heal, that would be considered intermediate care.

Custodial Care

Unlike skilled and intermediate care, which is used to improve your health, custodial care isn’t intended to heal you. Instead, custodial care includes assistance with daily activities like bathing, eating, dressing, toileting (getting on and off the toilet and other tasks associated with personal hygiene), continence and transferring (getting in and out of bed and chairs). Catheter or colostomy maintenance is also included. Custodial care can range from in-home care provided two or three days a week, to 24-hour nursing home care.

 Why might an independent R.I.A. be a good choice for an investor?

  • Independent RIA’s generally have affiliations with a variety of firms that assist with tax planning, estate planning, money management and more. These affiliations allow them to help their clients with complex financial needs.
  • They generally have affiliations that are free from the conflicts of interest you often see at retail brokers, independent broker dealers, or captive insurance agents.
  • The compensation of some independent registered investment advisors is directly related to growing the assets of their clients, which can benefit the advisor and client alike.

 

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