When you purchase a traditional health insurance policy you pay a premium fee each month. It is a fee-for-service type of insurance plan that covers health care plan costs. Sometimes you need to pay an additional cost for certain services, often referred to as a copayment. These copayments are typically required for doctor visits and certain medications. When seeking options for health care insurance in NYC and beyond, trust Margolis and Associates.

Long-term care insurance is dissimilar to a traditional health insurance policy in that it is created for coverage of long-term support and services. These services include both custodial and personal care in various settings. Long-term care insurance may be applied to care received at home, in a nursing facility, or in another community-type setting.  

Traditional Health Insurance Examples

These types of health insurance plans are also referred to as fee-for-service (FFS) or indemnity plans. A health insurance plan considered “traditional” provides the insured person with standard coverage limits. Coverage includes visits to the doctor, surgeries, hospital stays, and other expenses relating to medical needs. In addition, health insurance plans can cover severe illness and injury, as well as offer coverage for major medical expenses. These policies will pay the larger medical bills when standard coverage is exhausted.

What is Long-Term Care Insurance?

Adults between the ages of 40 and 65 or older that require specialized care often purchase long-term care insurance. Also referred to as LTC insurance, it provides coverage for people requiring home health or care in a nursing facility. In addition, persons who are over 65 years of age with a disabling or chronic condition also purchase LTC insurance.

The purchase of a long-term care insurance policy allows policyholders a daily reimbursement of up to an amount that is pre-selected. Individuals in need of certain healthcare services can purchase LTC insurance. Long-term care policies offer individuals in need assistance with daily activities like eating, bathing, and dressing. There is a wide variety of options regarding benefits and care to choose from when you select an LTC policy.

Contact Us for All Your Health and Long-Term Care Insurance Needs

When you are in need of health insurance or long-term care insurance in Queens and other New York areas, contact us. Margolis & Associates is an insurance brokerage firm that has heart, making us number one in NYC and its surrounding areas.

For all your health and long-term care insurance needs, contact Margolis & Associates by visiting 118 East 28th St. Suite 704, New York, NY. Or you can call our office at 212-684-0711, or fax an inquiry to 212-889-0965. We are open Monday through Friday from 9:00 am until 5:00 pm. Closed weekends. Reach out to us today for a quote on an insurance policy.