Long-Term Care Insurance

Long Term Care Insurance (LTC) covers care that is generally not covered by health insurance, Medicare, or Medicaid. You may need long term care services if you have an illness or injury and you're not able to perform one or more activities of daily living: dressing, transferring, bathing, eating, toileting, personal hygiene.  LTC insurance helps pay for the care you need when you can no longer care for yourself – either in your own home (home care) or in a facility (asst living or nursing home).

Many people are under the incorrect impression that  Medicare, Medicaid, or their health insurance pays their long term care costs. Medicare has eligibility requirements for skilled nursing care only and benefits are limited. You must have been hospitalized for 3 days and entered a skilled nursing facility within 30 days of leaving the hospital to even qualify. Then, Medicare pays 100% of skilled nursing care for 20 days and all but $141.50 per day for the next 80 days. You pay ALL costs after that.

A 2011 Genworth Financial Cost of Care survey finds that the average cost for a nursing home on Long Island is currently $400 per DAY, and that is expected to soar to $650 per day in 10 years.

A LTC Insurance policy can help pay for Home and/or Skilled Nursing costs. They are affordable and should be incorporated into your overall financial plan. Let us show you how affordable these important coverages can be.