Long Term Care Insurance
Long term care insurance covers expenses and services not covered by health insurance, Medicare, or Medicaid. Speak with one of our specialists about your options today.
What Is Long-Term Care?
Long-term care refers to services that help people with activities of daily living (ADLs) when they can no longer care for themselves independently.
These services may include help with:
- Bathing
- Dressing
- Eating
- Mobility
- Toileting
- Cognitive supervision
Long-term care may be provided in several settings, including:
- Your home
- Assisted living facilities
- Memory care communities
- Skilled nursing facilities
Learn more about long-term care services here:
https://longtermcare.acl.gov
Does Medicare Cover Skilled Nursing Care?
Medicare only provides limited coverage for skilled nursing care, and only under very specific circumstances.
Medicare may cover short-term skilled nursing care after a qualifying hospital stay, but coverage is limited and temporary.
For example:
- Medicare must determine the care is medically necessary
- You must first have a qualifying hospital stay of at least three days
- Coverage is limited to short-term rehabilitation, not long-term care
Medicare does not cover custodial care, which is the type of care most people eventually need.
Official Medicare explanation:
https://www.medicare.gov/coverage/skilled-nursing-facility-care
What Medicare Does NOT Cover
Medicare generally does not pay for long-term custodial care, including:
- Long-term nursing home care
- Ongoing assisted living care
- Help with daily activities such as bathing or dressing
- Long-term supervision for cognitive conditions such as dementia
Many people are surprised to learn that once rehabilitation ends, Medicare coverage stops.
You can learn more about Medicare coverage here:
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What Is Original Medicare?
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https://www.medicare.gov
Does Health Insurance Cover Long-Term Care?
Most traditional health insurance plans focus on medical treatment and hospitalization, not extended personal care.
Health insurance typically covers:
- Doctor visits
- Hospital care
- Prescription medications
- Preventive services
But long-term care services like extended nursing home stays or ongoing in-home assistance are generally not covered by standard health insurance policies.
Learn more about health insurance coverage here:
Why Many People Plan for Long-Term Care
Long-term care can be expensive. According to national estimates, the cost of extended care services can reach tens of thousands of dollars per year, depending on the level of care needed.
Without planning, many families must rely on:
- Personal savings
- Family caregivers
- Medicaid after assets are depleted
Planning ahead can help protect your retirement savings and provide more flexibility in choosing where and how you receive care.
You can learn more about long-term care costs here:
https://acl.gov/ltc/costs-and-who-pays
How Long-Term Care Insurance Works
Long-term care insurance helps provide financial support for care services if you can no longer perform certain daily activities independently.
Benefits may help cover:
- In-home care services
- Assisted living facilities
- Skilled nursing facilities
- Adult day care services
Policies typically pay a daily or monthly benefit to help cover the cost of care.
Planning Ahead Is Important
The best time to consider long-term care planning is before health conditions develop. Waiting until care is needed can limit your options.
Planning early can help:
- Protect retirement savings
- Provide more choices in care providers
- Reduce the financial burden on family members
You can also explore how long-term care planning fits into your overall retirement strategy.
👉 Retirement Planning
Get Help Understanding Your Options
Long-term care planning can feel complicated, but understanding your options today can help protect your future.
As an independent advisor, I help individuals and families explore different strategies for protecting their finances and preparing for potential long-term care needs.
Contact us to learn more about the right long term care insurance for you.
Get a quote for long-term care insurance