What is Long-Term Care Insurance?

Long term care refers to a wide range of medical, personal, and social services. This kind of care usually involves assistance with activities of daily living (ADLs). Examples include not being able to dress oneself, not being able to move from one room to another, and the inability to bath or shower. Long term care covers rehabilitation in a skilled nursing facility and services in a nursing home. Most long-term care recipients are older because chronic physical conditions or the progression of Parkinson’s and Alzheimer’s. But those of younger age may need it due to complications arising from accidents.

Medicare does not cover needs arising from long term care. For example, Medicare won’t cover care in a traditional nursing home. Medicare Advantage plans may help with ADLs and IADL’s (meal preparation, light housework, pet care). However, allocated hours to assist with these tasks may not be enough. Generally speaking, Medicare addresses acute care medical needs not chronic disability.

The number of Americans, ages 65 and older, is estimated to nearly double from 2018 to 2060 (52 to 98 million). * This will necessitate additional medical and social resources for long term care as well as financial resources from families to fund it. Medicaid is the current primary payer for nursing home care.

Long term care benefits are available with some life insurance policies. This said, they won’t provide the depth of coverage you’ll receive from a long-term care policy. The younger you are the more affordable the premiums. Getting long term care insurance is an important step. If you want more information on these policies, call me at 702-525-6847, email ken@deserthealthandlife.com or fill out our contact form. For general information on long term care, visit www.longtermcare.gov.

*”Fact Sheet: Aging in the United States,” Mike Mather, Paola Scommegna, Lillian Kilduff, July 15, 2019.