Long Term Care Insurance
With Baby Boomers reaching retirement and Americans living longer than ever, Long Term Care Insurance (LTC) policies should be on the minds of many people, in particular those close to retiring and those who will need to take care of loved ones over a long period of time. Long Term Health Care Insurance protects you, as well as those you love, in the event that extended health care is needed in your lifetime.
Long Term Care Insurance Helps to Cover:
• Daily activities such as bathing, eating, dressing
• Skilled nursing care or rehabilitation training either in a nursing facility or at home
• Cognitive impairment such as Alzheimer's and deals with care-oriented conditions, not cure oriented
Who Pays For Long Term Care (LTC)?
Many people are under the impression that Medicare, Medicaid or their health insurance will pay their Long Term Care costs.
• Medicare has eligibility requirements for skilled nursing care only and is for a limited time period.
• Medicaid is a welfare program. It will NOT cover long term health care costs for the average American.
• Health insurance and medical supplements DO NOT cover nursing home care.
• Individuals and families through their savings, assets, and cash pay most of the Long Term Care costs.