What Is Long Term Care Insurance?

Long term care insurance helps cover the cost of long term care services. If you meet the criteria for claiming benefits, it enables you to receive care at a facility or, if you prefer, to receive care at your home. Generally, long term care services are not covered by health insurance; health insurance may cover the cost of treatment for illnesses but not the cost of services considered custodial or that support the activities of daily living.

Why Choose Long Term Care Insurance over Medicare or Medicaid?

Medicare will only cover 100 days of treatment in a skilled nursing facility after a hospital stay of at least three days. Most long term care is not skilled care and does not follow a hospital stay.

Medicaid is available only to people with limited income, assets and resources. Even if you do qualify, your choices of where and how to receive care can be greatly restricted. In addition, Medicaid may not cover home health care or assisted living.