What is Long Term Care (LTC)?

Long Term Care can be broadly defined as care provided by another party for the benefit of those who are unable to care for themselves. Generally, long term care refers to the personal care and other related services provided on an extended basis to people who need help with certain Activities of Daily Living (ADL’s, Bathing, Dressing, Transferring, Feeding, etc.) or who need supervision due to severe cognitive impairment such as Alzheimer’s Disease, Dementia or physical impairment. Care can be provided at home, in the community, in an assisted care facility or in a nursing home.

The need for long term care can happen in an instant or gradually as a person’s health declines. Some of the reasons for receiving long term care include: chronic disease, prolonged illness, injuries sustained as a result of an accident, disability, or cognitive impairment such as Alzheimer’s Disease that limits a person’s ability to think or reason.

Who pays for it?
An unplanned Long Term Care event can financially destroy a family. The cost for Home Care and/or Nursing Home care, depending where you live, can be extremely expensive with annual costs as high a $75,000 per year or more depending on the level of care required.

Call us anytime at +1-866-420-4683 to confidentially discuss your planning options in detail.

Since the passage of the Health Insurance Portability and Accountability Act (HIPAA) in 1996, it is now clear who is primarily responsible for paying for long term care: YOU!

Long term care services aren’t adequately covered by most types of insurance, or governmental programs including Medicare and Medicaid.

Most private medical and major medical insurance plans do not cover long term care.

Medicare generally covers some nursing home care, but only for a limited time.

Disability insurance only replaces lost income.

Medicaid pays only for nursing home care after you have spent most of your assets.

That’s why many Americans are looking at Long Term Care Insurance (LTCI) to offset the expense of caring for a Spouse or a Family Member for a long period of time.