Home: Long Term Care Insurance

Long Term Care Insurance

Definition: Long term care can be broadly defined as care provided by another party for the benefit of someone who is unable to care for him or herself due to a prolonged illness or disability.

The need for Long Term care is not always permanent, nor does the term only refer to institutional care. It is said that “the chances of ending your life in a nursing home are minimal, but you most likely will need long-term care.” Long term care is not only a need for the elderly, the likelihood of needing long term care before the age of 65 is greater than you think.

There are two different levels of care:

Skilled Care: generally delivered in an institutional setting such as a hospital or nursing home.

Non-skilled Care: also known as Custodial Care. Non-skilled care is generally provided in the home or other non-institutional setting. This care is provided to people who need help in performing at least two activities of daily living (ADLs) or people requiring supervision to protect themselves from threat to health and safety due to severe cognitive impairment.

Activities of Daily Living (ADL)s:

  • Eating
  • Bathing
  • Dressing
  • Toileting
  • Continence
  • Transferring from bed to chair, etc.

Paying for this type of care:

Medicare currently does not pay for long term care. Most families cope by trying to provide care themselves. A Long Term Care Insurance Policy will cover the costs of care and reduce the stress on surrounding family members.

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