Long Term Care Insurance (LTC)

The Need

According to the U.S Department of Health and Human Services statistics, nearly 70% of 65-year-old people will need long-term care services or support.

Medicare Coverage

Medicare covers short nursing home stays or limited amounts of home health care when you require skilled nursing or rehab only. It doesn’t pay for custodial care, which includes supervision and help with day-to-day tasks. You will have to rely on family or pay for the care yourself, if you don’t have insurance to cover long-term care. Help is possibly available through Medicaid, the federal and state health insurance program for those with low incomes, but first, you must prove you’ve exhausted almost all of your savings.

Unless you plan to have the help of a qualified and willing family member, LTC insurance should be considered.

For more detailed information about Long Term Care and how it works, please see this Guide.

Compare plans the easier way:

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