What is Long-Term Care?
Long-term care is a variety of services that includes medical and non-medical care to people who have a chronic illness or disability. Long-term care helps meet health or personal needs. Most long-term care is to assist people with support services such as activities of daily living like dressing, bathing, and using the bathroom. Long-term care can be provided at home, in the community, in assisted living or in nursing homes. It is important to remember that you may need long-term care at any age.
A myth that most people think about long term care is that it's all covered by Medicare. That's not the case. Custodial care (non-skilled care) is care that helps you with activities of daily living. It may also include care that most people do for themselves, for example, diabetes monitoring. That is not covered by Medicare.
Without a long term care policy, these costs could eat up retirement savings very quickly. Most people think long term care policies are too expensive but the reality is that they are only a fraction of the costs of nursing home and custodial services if you were to pay those out of pocket. If you have aging parents you are worried about then this is something they may want to consider.
Like life insurance you get the best rates when you are younger and healthy. If you want until you are older or have a chronic illness you may be paying the highest rates or uninsurable. Another cost savings is that couples can generally get a 20% discount if they get policies at the same time.
Email or call us for a quote. We offer many carriers to choose from.