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What Is Long Term Care Insurance And What Do I Need To Know About It?

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Senior Citizens Nursing Home Long Term Care Insurance Assisted Living Facility Gee Insurance Solutions Dallas Fort Worth Arlington Mansfield Texas TXDo you worry about what would happen to you if you needed help with activities of daily living, such as eating, bathing, dressing, toileting, walking, and continence? For many people, long term care insurance is the way to pay for assistance. But what is long term care insurance, and is long term care insurance for you?

What is Long Term Care Insurance?

Long term care (LTC) insurance is a type of health insurance designed to provide care for people with injury or chronic illness. LTC insurance is different than health insurance, because it provides benefits for both medical and non-medical assistance for someone in need of help with their daily care, whether that person is living in their own home or in a care facility such as a nursing home, assisted living facility, or a group home.

Why Might You Need Long Term Care Insurance?

Like life insurance, LTC insurance can be tough to talk about. People don’t want to imagine that they will not be able to care for themselves.

However, long term care insurance is a necessary security feature for you and your family.

Maybe you’ll never need it, but there is so much financial security that can be lost due to a disabling injury or illness if you don’t have LTC coverage.

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How Much Does Long Term Care Insurance Cost?

Knowing how much long term care insurance costs is tricky. There are a lot of variables that go into the pricing and underwriting of an LTC policy.

For instance, what level of care do you want? How long do you want your coverage to last? What is your medical history? All of this and more will go into determining the cost of an LTC insurance plan.

Long term care insurance can be expensive, but it doesn’t have to be. Contact us using our Long Term Care Information Request form, and we can get you the best rates and plans with just a 2 page application. We’ll even be able to tell you if LTC insurance isn’t the best fit for you.

Do I Need A Long Term Care Insurance Policy?

Considering the cost of insurance and the fact that no healthy person ever imagines getting sick, you may be wondering why get a long term care insurance policy?

Like all types of insurance, it is possible you may never have a claim against your LTC policy. However, you will appreciate the fact that you bought one if you end up with a chronic illness or injury that leaves you unable to independently care for your activities of daily living.

Over 10 million adults in America will need long term health care this year, and that number could grow to That number is expected to rise as high as 15 million by the year 2025. Think these people need to know what is long term care insurance?

Of adults over the age of 65, there is a 40% chance they will need to consider nursing home care. About 10% of the people who enter a nursing home will wind up staying there for five years or longer. By having long term care insurance, you don’t need to worry about whether your Medicare or primary health insurance will pay for care in the nursing home. Your long-term care insurance will cover these expenses.

How Does Medicare Work With Long Term Care Insurance?

Most seniors heavily rely on Medicare to pay for their heath care expenses. But, did you know that Medicare doesn’t pay for most LTC?

Medicare pays for skilled nursing if it’s medically necessary, and it will pay for it in facilities or home care. However, a Medicare recipient must meet eligibility requirements, and other types of long term care must be paid out of pocket, or by long term care insurance.

What Does Long Term Care Insurance Cover?

One thing to know is that not all long term care insurance is the same. For example, some policies will only pay for nursing home care, while other will cover a much broader range of services such as adult day care centers, assisted living facilities, and medical equipment.

When deciding on a LTC plan, it is good to consider the types of activities and functions you may need help with. When you’re healthy, it can be hard to know what you’ll need help with, but think about what you will want help doing if the day comes that you can’t do it for yourself. 

Obviously, the more robust a long term care insurance plan is, the more it will cost. However, if the day comes that you need help with things like cooking, housework, driving to appointment, finances, taking medicine, and more, you will be glad you have enough coverage and know what is long term care insurance.

How Important Is Long Term Care Insurance?

Long term care insurance shouldn’t be considered as an optional purchase. It should be considered as a serious addition to your regular health insurance.

Even if you have lived a healthy life, the day is coming when you may need help with daily living activities. Now is the time to begin planning for LTC insurance. In fact, if you are healthy now, this this is definitely the time to think about buying a policy.

Gee Insurance Solutions can help you get covered for your long term care needs. We have a simple 2 page form that we use to quickly and easily determine if a long term care insurance policy is right for you, and if it is, what plan is best. Contact Us Today to get the ball rolling on your long term care insurance.

Finding out what is long term care insurance is the first step to making sure your assets are protected if you need help with daily living activities. Contact Us to learn how to find the right plan.

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