Long-Term Care Insurance Information
Long-Term Care Insurance steps in to help financially if you develop a health condition that requires you to receive care and supervision. The LTC insurance policy covers all or a part of the cost of help when you cannot perform two (2) of the six (6) “activities of daily living” (ADLs) without assistance or supervision. This can mean support with bathing, continence, dressing, eating, toileting or transference.
These care and supervision services are not medical services, so health insurance, Medicare and supplemental insurance will not cover them.
Long-Term Care Insurance Puts You in Control of How and Where You’d Receive Care
People without LTC Insurance still receive needed care and supervision if they experience a health condition and require help with the activities of daily living. The difference lies in “who pays” and “who makes the decisions.”
Without LTC Insurance someone needing long term care would pay for care and supervision services out of their savings, retirement income and assets. If care was still needed when these resources were depleted, Medicaid would step in and pay for care. From that point forward Medicaid makes the decisions on the type of care where it is offered.
People with Long-Term Care Insurance know specifically how they will pay for care, and maintain control of their care. LTC Insurance allows you to:
