fbpx

Long-Term & Short-Term Care Insurance

Long-Term Care is extremely expensive and many people do not want to rely on family to take care of them as they get older, That’s were Long-Term Care Insurance comes in. These plans are customized to your expected needs.  

Short-Term Care is typically for less than 360 days. Most people will need some type of Long or Short Term care and for many Short-term care is the  best option based on need and budget.

Long-Term & Short-Term Care Insurance

Long-Term Care is extremely expensive and many people do not want to rely on family to take care of them as they get older, That’s were Long-Term Care Insurance comes in. These plans are customized to your expected needs.  

Short-Term Care is typically for less than 360 days. Most people will need some type of Long or Short Term care and for many Short-term care is the  best option based on need and budget.

“70% of people turning age 65 can expect to use some form of long-term care”

HHS.GOV

What is Long Term Care

Unlike traditional health insurancelong-term care insurance is designed to cover long-term services and supports, including personal and custodial care in a variety of settings such as your home, a community organization, or other facility.

Long-term care insurance policies reimburse policyholders a daily amount (up to a pre-selected limit) for services to assist them with activities of daily living such as bathing, dressing, or eating.  You can select a range of care options and benefits that allow you to get the services you need, where you need them

What is Short Term Care

Short Term care Insurance pays for your care for up to 360 days, Plans can be customize to fit your needs from waiting periods, type of facilities that are covered and if home health care is included. For most people Short term care is a great option because it cost far less than long term care plans and most people typically do not need more that 360 days. There are less health questions and the acceptance rate is much higher. let us design a plan that fits your need and budget.

How Much Care Will You Need?

The duration and level of long-term care will vary from person to person and often change over time. Here are some statistics (all are “on average”) you should consider:

  • Someone turning age 65 today has almost a 70% chance of needing some type of long-term care services and supports in their remaining years
  • Women need care longer (3.7 years) than men (2.2 years)
  • One-third of today’s 65 year-olds may never need long-term care support, but 20 percent will need it for longer than 5 years

The table below shows that, overall, more people use long-term care services at home (and for longer) than in facilities.

Contact us for a Free Quote

Coverage Options

12 + 14 =

How much care will you need?
The duration and level of long-term care will vary from person to person and often change over time. Here are some statistics (all are “on average”) you should consider:
  • Someone turning age 65 today has almost a 70% chance of needing some type of long-term care services and supports in their remaining years
  • Women need care longer (3.7 years) than men (2.2 years)
  • One-third of today’s 65 year-olds may never need long-term care support, but 20 percent will need it for longer than 5 years

The table below shows that, overall, more people use long-term care services at home (and for longer) than in facilities.

Who will provide your care?

Long-term care services and support typically come from:

  • An unpaid caregiver who may be a family member or friend
  • A nurse, home health or home care aide, and/or therapist who comes to the home
  • Adult day services in the area
  • variety of long-term care facilities

A caregiver can be your family member, partner, friend or neighbor who helps care for you while you live at home. About 80 percent of care at home is provided by unpaid caregivers and may include an array of emotional, financial, nursing, social, homemaking, and other services. On average, caregivers spend 20 hours a week giving care. More than half (58 percent) have intensive caregiving responsibilities that may include assisting with a personal care activity, such as bathing or feeding.

Information on caregivers show that:
  • About 65.7 million people in the US (one in four adults)were unpaid family caregivers to an adult or child in 2009
  • About two-thirds are women
  • Fourteen percent who care for older adults are themselves age 65 or more
  • Most people can live at home for many years with help from unpaid family and friends, and from other paid community support
Where can you receive care?
Most long-term care is provided at home. Other kinds of long-term care services and supports are provided by community service organizations and in long-term care facilities.

Examples of home care services include:

  • An unpaid caregiver who may be a family member or friend
  • A nurse, home health or home care aide, and/or therapist who comes to the home

Community support services include:

  • Adult day care service centers
  • Transportation services
  • Home care agencies that provide services on a daily basis or as needed

Often these services supplement the care you receive at home or provide time off for your family caregivers.

Outside the home, a variety of facility-based programs offer more options:

  • Nursing homes provide the most comprehensive range of services, including nursing care and 24-hour supervision
  • Other facility-based choices include assisted living, board and care homes, and continuing care retirement communities. With these providers, the level of choice over who delivers your care varies by the type of facility.  You may not get to choose who will deliver services, and you may have limited say in when they arrive.
Who Pays for Long-Term Care?

The facts may surprise you.

Consumer surveys reveal common misunderstandings about which public programs pay for long-term care services. It is important to clearly understand what is and isn’t covered.

Medicare:

  • Only pays for long-term care if you require skilled services or rehabilitative care:
    • In a nursing home for a maximum of 100 days, however, the average Medicare covered stay is much shorter (22 days).
    • At home if you are also receiving skilled home health or other skilled in-home services. Generally, long-term care services are provided only for a short period of time.
  • Does not pay for non-skilled assistance with Activities of Daily Living (ADL), which make up the majority of long-term care services
  • You will have to pay for long-term care services that are not covered by a public or private insurance program

Medicaid:

  • Does pay for the largest share of long-term care services, but to qualify, your income must be below a certain level and you must meet minimum state eligibility requirements
  • Such requirements are based on the amount of assistance you need with ADL
  • Other federal programs such as the Older Americans Act and the Department of Veterans Affairs pay for long-term care services, but only for specific populations and in certain circumstances

Health Insurance:

  • Most employer-sponsored or private health insurance, including health insurance plans, cover only the same kinds of limited services as Medicare
  • If they do cover long-term care, it is typically only for skilled, short-term, medically necessary care

There are an increasing number of private payment options including:

  • Long-term care insurance
  • Reverse mortgages
  • Life insurance options
  • Annuities