Long-term care refers to assistance with the very basic, everyday activities that most of us can do for ourselves. We call them Activities of Daily Living, or ADL’s. As a result of illness, injury or advanced age, many people need assistance in order to eat, dress or bathe. The need for long-term care may also result because a person has cognitive impairment. Some people need supervision or reminders to accomplish every day activities, such as using the toilet, eating, bathing, dressing and so forth.

Long-term care is provided to people who are unable to perform the basic task of everyday living on their own for an extended period due to chronic medical, physical or cognitive conditions, or disability injuries. Long-Term Care Insurance covers long-term care services provided in a nursing home, at home, in an assisted living facility or in other community-based settings. Medicare, Medicare supplemental insurance (Medigap) and traditional health and disability insurance plans typically do not cover long-term care services.

Today, the average cost of staying in a nursing home can be very expensive, often over $70,000 a year. Home care can be very expensive as well. Few people can afford this cost without using their life savings. Long-Term Care Insurance allows you to protect your assets in the event you need long-term care some time in the future, just like you protect yourself with homeowner and auto insurance.

Plans vary greatly based on your age, health and state. To give a general idea, the average buyer is in their late 50’s and they are spending $175 per month.

The premiums charged for tax-qualified Long-Term Care Insurance policies are treated as medical expenses under Federal tax law, which may qualify you for a more favorable outcome on your tax return.

A Long-Term Care Resources Specialist will be able to develop specific quotes based on our desired options. And you should check with the insurance carrier to determine if your plan is tax-qualified and consult with an attorney, accountant or tax advisor regarding the tax implications of purchasing a tax-qualified policy.

About half of all long-term care expense is paid by state Medicaid programs. About one-third is paid out-of-pocket by individuals and their families. Medicare only provides for some skilled care in some limited situations. Neither Medicare supplemental insurance nor major medical coverage provided by most companies pays for long-term care. This leaves approximately one-sixth of the total cost to be covered by other government programs and private insurance.

While many people think the federal government pays for long-term care expenses, nationally, over 25 percent of all nursing home expenses are paid out-of-pocket by individuals and their families. Neither Medicare, Medicare Supplement Insurance nor the major medical health insurance provided by employers is designed to pay for long-term care expenses.

Yes, but in very limited situations. Medicaid will generally apply only to those with very low incomes and very few assets. Even then, there is only limited choice of what and where benefits will be provided. For example, there might be limited choice of physician and facility, no control over the number of people sharing a room or no ability for the family to pay for any extras.

Although medical insurance has some aspects of long-term care, they are not the same thing. For example, some medical plans may pay for the services of a nurse while you are recovering from an illness or an injury that requires the maximum benefit for nursing services, this benefit would cease to be available. Medical insurance is not designed to cover activities of daily living. Long-term care is designed to cover activities of daily living.

John Hancock, Mutual/United Of Omaha and Genworth.

The average policy written is for a person in their mid to late 50’s, but our carriers underwrite policies for ages 18-84.

Coverage is available at the discounted rate for both you and your spouse; coverage can also be purchased for your parent’s, parent’s in-law and adult children.

Generally speaking yes, there are different levels of health within the underwriting process as well as heath conditions that are unfortunately uninsurable such as:

• Currently in a care facility or receiving home heath care
• Pending surgery (you may be able to apply after recovery)
• Parkinson’s disease
• Multiple Sclerosis
• Alzheimer’s disease (or Dementia)
• Muscular Dystrophy
• Organ transplants (except for cataracts)
• Active cancer
• On oxygen
• Use of a quad cane
• Diabetes with neuropathy
• Recent stroke or multiple TIAs

When you call 1-800-588-7421, you are reaching the Customer Service Center for Long-Term Care Resources, the authorized Long-Term Care insurance plan administrator for our Long-Term Care Insurance Program.

That is not a problem. If you would provide us with your email address, we will send you the informational planning kit to look over. There is a toll-free number provided in the planning kit if you would like to speak to a Long-Term Care Specialist.

No, it’s not necessary to have someone come into your home; the process can be completed through the mail, over the phone or by fax.