LONG AND SHORT TERM CARE INSURANCE
What is it?
Long-term care insurance covers care generally not covered by health insurance, Medicare, or Medicaid. LTC policies reimburse policyholders a daily amount for services to assist them with activities of daily living like bathing, dressing, or eating. Short-term care insurance provides similar protection, but typically provides benefits for 12 months or less
why do I need it?
Regular health insurance doesn’t cover long-term care, and Medicare isn’t enough either. Medicare only covers short nursing home stays or limited amounts of home health care. It doesn’t pay for custodial care, including help with day-to-day tasks. Planning for long-term care costs is an important part of your long-range financial plan, especially for those over 50. The median cost of care in a semi-private nursing home room now exceeds $80,000 a year, according to a recent industry survey.
all greek to you?
I get it, this stuff can be confusing. What do I need? How do I get started? Sometimes it's just easier to chat through everything. Send me your contact information below and we'll set up a time to chat!