Typical employer-based health coverage doesn't pay for daily care services, and Medicare will only cover a short stay in a nursing home or a limited amount of at-home care. And so, long-term care insurance was born.
Policies offer many different coverage options to help you pay for the care you need, whether living at home, in an assisted-living facility or in a nursing home. Long-term insurance may pay expenses for adult day care, as well as help pay costs associated with modifying your home so that you can keep living in it safely.
Factors that affect coverage:
What long-term care policies are out there?
Be on the lookout for coverage exclusions — most states have outlawed companies from requiring that you be in a hospital or nursing home for a specific number of days before you can qualify for benefits. Some states, however, do permit this exclusion, so check your plan for this and other "fine print" issues.
This is just a basic introduction to a complicated topic. As always, feel free to contact our office for help in determining if long-term care insurance is right for you, and if so, what options are best.
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