Long-term care insurance is designed to help pay for the medical services associated with long-term care that are not normally covered (or have limited coverage) under health insurance or Medicare.
Long-term care insurance is divided into three basic categories:
- Comprehensive — Coverage that offers you the broadest range of protection. You can be covered in both facilities and residences. Because it can provide the most flexibility, comprehensive long-term care insurance is usually the most expensive.
- Basic (Facility) — Coverage that helps provide protection in places like nursing homes and assisted living facilities. You can usually select options that add benefits for home health care coverage.
- Home Health Care — Coverage if you want to stay at home to receive care. Benefits can be paid to modify your home and for visits by nurses, home health aides and physical therapists.
While long-term care coverage can be difficult to understand, it is basically similar to health insurance — it helps provide insurance protection when you need care due to an extended illness or disability. It's usually the terminology that can be confusing. A licensed insurance agent trained in long-term care insurance should be able to explain everything. Or, you can contact your state for a long-term care planning kit.
Remember, the whole point of long-term care insurance is to enhance your overall insurance protection and help you protect your savings and family, as well as maintain your independence.
Additional Information
It’s always a good idea to learn as much as you can before making any decision. Remember, a licensed professional can be a great resource. Also talk to friends and family for their input.
For additional information, please visit our
Senior Resource Center.
Make sure to check out other important insurance topics, including:
This educational content is provided courtesy of Physicians Mutual®.
