New Jersey residents who decide to purchase a long-term care (LTC) insurance policy are helping to ensure that in the event of advanced age or infirmity, their family members have access to help when they need it most. As you get older, you may need to have assistance from a senior living facility or from medical assistants visiting your home. Long-term care insurance policies help make sure that the financial resources are available in the event you need home health aides or an assisted living facility or nursing home. This coverage is designed to lessen the burden on your family and to assure that you get the care you need, whether it is because of catastrophic injury or illness, or just advanced age. Given the increasing life expectancy which we have experienced as a result of medical advancements, more and more people live longer and longer lives, which in turn requires greater and greater financial resources to maintain your care in those advanced years.

Tips to know before filing a claim

Before you attempt to file a long-term care claim, there are a few things that you need to know. First of all, you need to go through the insurance policy to figure out the coverage limits and the instructions for filing a claim with your particular insurance company. Before you decide to file a claim, it’s important to understand the type of care you’re going to need. Some people may need in-home care, whereas others may need to move to a senior living facility.

Understand how the benefits work

Some long-term care insurance pays out on a daily basis, and others pay out a preset dollar amount. You’ll need to read through the insurance policy to determine whether it offers daily benefits and in what amount. If the policy uses the indemnity method, you’ll need to determine the preset dollar amount that will be paid out.

Documents that you’ll need to file a claim

To successfully fill out a claim, you’ll need to have a few key documents. These include a policyholder statement, an attending physician statement, a nursing assessment and plan of care, a provider statement, and an authorization to release information form. It’s best to get these all prepared before you start filling out the claim.

Filing for a long-term care insurance claim can be a bit overwhelming at first. By following the tips presented above and preparing these documents, you can set yourself up to make the process as easy as possible. Given the amount of money at stake in these situations, it makes absolute sense to consult an attorney who is familiar with LTC insurance coverage, and can help navigate the process to a successful outcome.