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If you have a Long Term Care Policy and are not sure what it covers, St. Charles can help. Seniors with a chronic illness or disability can often benefit from Long-Term Insurance. This type of care ranges from help with simple activities like bathing or getting dressed to skilled nursing care provided by nurses and therapists. Long-term care can be expensive, but insurance can help cover those costs. The experts at St. Charles Community, a senior living community that provides help to Seniors in Northern KY, offer the following information regarding long-term care insurance policies:

  • Age And Health: The least expensive policies are offered to those who are younger and in good health. Older candidates or those with serious heath challenges may have to pay a lot more, and in some cases, they may not be able to get coverage.
  • Premiums: Premiums for long-term care tend to increase over time. Ask yourself if your income will allow you to afford a policy if you face a rate increase in the future. If you let your insurance lapse due to non-payment, you'll lose all the money you've previously invested in the policy.
  • Taxes: With a long-term care policy, benefits typically aren't taxable. Also, if you itemize deductions and have nursing care or other medical costs that surpass 7.5% of your adjusted gross income, you'll be able to deduct the value of your premiums from your federal income taxes.

Serving Covington and the Greater Cincinnati area for over 50 years, St. Charles Community offers a wide range of services that provide help for Seniors. This non-profit, faith-based organization is sponsored by the Sisters of Notre Dame and offers independent living apartments and cottages, as well as nursing care, home care, and rehabilitation. Learn more by calling (859) 331-3224, or visit St. Charles Community online

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