Long TermCare

Long Term Care is the type of care received either at home or in a facility, when someone needs assistance with activities of daily living, such as bathing and dressing due to an accident, an illness, or advancing age.

As people age or become ill, they sometimes need help doing daily tasks like getting dressed, bathing, and more. Long-term care provides people with those services—but it’s expensive. The likelihood is that you or a member of your family will need long-term assistance due to a prolonged illness, a disability, or general deterioration of your health and ability to perform routine daily activities.

Long-term care insurance covers the cost of care as a result of injury, ongoing illness, or disability. Although an estimated 70% of people will need long-term care in their lifetime, this insurance policy remains one of the most overlooked. The oversight often leaves those who find themselves in long-term care facilities unprepared. Rising life expectancy means that the potential need for “long-term care” grows with every passing year of your life.

Most long-term care expenses are not covered by Social Security or Medicare, Medicare Supplement (“Medigap”), or private health insurance. Medicaid pays for nearly half of all nursing home care, but you must meet federal poverty guidelines and may have to “spend down” most of your assets on health care. Do yourself and your loved ones the service of preparing for the unexpected by purchasing a long-term care policy. These policies protect your assets and are safeguarded against inflation, allowing you to ease your anxieties and focus on healing.